Platte River Equity has acquired The WellMark Company, a manufacturer of liquid and pneumatic flow controls and valves. “WellMark has built a great reputation for high quality products, outstanding customer service and loyal employees,” said Platte River Managing Director Peter Calamari. “We are looking forward to working with the team at WellMark to help grow the business from the strong foundation that has been built over the last thirty years.”
“The significant development of unconventional resources in North America has driven the need for continued build-out of production and pipeline infrastructure. We believe that the acquisition of WellMark provides an opportunity to capitalize on these growing demand trends and establishes a solid platform for future investments in the flow control industry,” said Platte River Principal Mark Brown.
WellMark produces a full line of liquid and pneumatic flow controls and valves to the oil and gas and petrochemical industries. Products include diaphragm operated valves, pneumatic and electrical level controls, safety relief valves, chemical pumps, liquid level indicators, switches, point level electronic controls, and various accessory products. The company’s brands include WellMark, Cemco and Major. WellMark was founded in 1981 and is headquartered in Oklahoma City, OK (www.wellmarkco.com).
“We are pleased about WellMark’s new partnership with Platte River Equity,” said Dick Pfieffer, co-founder of the company. “The additional capital along with the significant operating and financial experience of the Platte River team creates exciting opportunities for WellMark as we remain focused on building quality products and maintaining the highest level of service for our customers.”
St. Charles Capital served as buy-side advisor to Platte River. Madison Capital Funding provided senior debt financing for the transaction.
Platte River Equity is a private equity firm focused on investments in lower middle market operating companies with enterprise values generally between $20 million and $250 million. The firm focuses on investing in the aerospace and transportation; energy and industrial services; and chemicals, metals and industrial minerals sectors. Platte River Equity manages funds with committed capital of approximately $700 million. The firm is based in Denver, CO (www.platteriverequity.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-27-12