BB&T Capital Partners Exits Cline
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BB&T Capital Partners Exits Cline

BB&T Capital Partners has sold its investment in Cline Acquisition Corp., a provider of aftermarket power transmission parts and services, to Rexnord Corporation.

Cline is a provider of aftermarket power transmission parts and services to the pulp and paper, steel and other end markets. Cline’s aftermarket capabilities include inspection and repair, rebuild, predictive and preventative maintenance and other on-site technical field services. Cline is based in Taylors, SC (www.theclineco.com).

BB&T Capital Partners manages over $725 million in committed capital across three funds which are all focused on the middle market. The firm makes direct equity investments in control transactions of privately-held companies; provides subordinated debt or mezzanine capital in support of transactions led by financial sponsors and others; and invests in other private equity funds. BB&T is an investment arm of BB&T Corporation and principally targets companies in business, government, healthcare and industrial services, niche manufacturing, value-added distribution and education.  The firm was founded in 1998 and is based in Winston-Salem, NC (www.bbtcp.com).

Rexnord is a global industrial manufacturer comprised of two strategic platforms, Process & Motion Control and Water Management.  The Process & Motion Control platform designs, manufactures, markets and services specified, highly-engineered mechanical components used within complex systems. The Water Management platform designs, procures, manufactures and markets products that provide and enhance water quality, safety, flow control and conservation. Rexnord has approximately 7,300 employees worldwide and is headquartered in Milwaukee (www.rexnord.com).

Quarton Partners acted as the exclusive financial advisor to Cline in this transaction.  “Quarton Partners ran a high quality process under a demanding timeline. With Quarton Partners’ knowledge of the power transmission sector they were able to deliver several strategic buyers to the table which ultimately allowed us to choose a strategic partner that shares our vision for growing the business and dedication to world-class customer service,” said Bob Buchanan, President and CEO of Cline.

Quarton Partners is a specialty investment banking firm serving privately held and publicly traded companies as well as private equity firms.  Quarton assists its clients with mergers and acquisitions, private capital raising, restructurings, valuations, and other financial advisory services.  The firm is headquartered in Birmingham, MI (www.quartonpartners.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 2-13-13

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