Clearview Capital has sold its portfolio company Air Cooled Exchangers, a manufacturer of air-cooled heat exchangers used in the energy industry, to Alfa Laval. Lincoln International acted as the exclusive financial advisor to Air Cooled Exchangers and Clearview.
Air Cooled Exchangers (ACE) is a manufacturer of air-cooled heat exchangers used to cool air, natural gas, oil and water for the energy industry. ACE’s products are used in a variety of industrial applications, including natural gas compression systems, which increase and control the flow of gas wherever it is produced, transported, processed, stored and delivered. The company is based in Tulsa, OK (www.ace-coolers.net).
Lincoln International acted as the exclusive financial advisor to ACE and Clearview on this transaction and worked closely with the management team and shareholders throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.
“Lincoln did an outstanding job in understanding ACE’s unique business model and in creating a customized marketing approach that generated significant interest from strategic acquirers worldwide,” said James Andersen, Founding Partner at Clearview. “The result was a very competitive auction process that provided attractive alternatives and an excellent outcome for ACE and its shareholders.”
Lincoln International specializes in merger and acquisition advisory services, debt advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With thirteen offices in the Americas, Asia and Europe, Lincoln International has strong local knowledge and contacts in key global economies. The firm provides clients with senior-level attention, in-depth industry expertise and integrated resources. Lincoln International is based in Chicago (www.lincolninternational.com).
“Through a global marketing effort and clear understanding of ACE’s industry dynamics, Lincoln achieved a superior outcome for the shareholders,” said Matt Rumilly, Principal at Clearview.
Clearview Capital invests in mid-sized manufacturing and service companies that have cash flow between $4 million and $20 million. Clearview has in excess of $250 million under management and is currently making investments through its committed fund, Clearview Capital Fund II, LP. The firm is located in Old Greenwich, CT (www.ClearviewCap.com).
The buyer of ACE, Alfa Laval, is a producer of specialized products used to heat, cool, separate and transport such products as oil, water, chemicals, beverages, foodstuffs, starch and pharmaceuticals. The company has revenues of approximately SEK 29 billion. Alfa Laval was founded in 1883 and is based in Lund, Sweden (www.alfalaval.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-16-13
