Alpha was an equity investor in a group led by Maierhofer Capital who acted in a merchant banking capacity with the acquisition. The investor group partnered with Culligan operating executive, Randy Easton, who has been involved in 75 acquisitions of similar businesses over his career.
The dealer acquisitions were completed in three rounds beginning with the acquisition of Culligan’s Chicago hub consisting of three dealers in July 2011. More recently, Alpha provided further financing to support the acquisition of Culligan’s Washington DC and Baltimore hub in December 2011 and again in June 2012 to fund the acquisition of Culligan’s Las Vegas location.
The acquired dealers will continue to operate independently under the Culligan brand as units of a platform company called USW Holding Co. Going forward, USW aims to grow both organically and via further acquisitions.
Alpha Capital makes control or minority investments of $500,000 to $5 million in manufacturing and value-added distribution businesses with $15 million to $100 million in revenue. Other sectors of interest include consumer products, retailers and restaurant chains where Alpha Capital has particular industry experience. The firm was founded in 1984 and is based in Chicago, IL (www.alphacapital.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-10-12