Fulham & Co. has acquired Alkota Cleaning Systems, a portfolio company of Bradford Equities. Bradford Equities acquired Alkota Cleaning Systems in March 2006 from Spell Capital which in turn had acquired the company in 1999.
Alkota Cleaning Systems manufactures and markets pressure washers and cleaning equipment. Products include industrial hot pressure washers, cold pressure washers, steam cleaners, waste water treatment systems, power parts washers, space heaters, and water heaters. The company also provides detergents that are used in cleaning applications in the transportation specialties, institutional, and food preparation sectors. Alkota was founded in 1964 and is based 50 miles south of Sioux Falls in Alcester, SD (www.alkota.com).
Fulham & Co. invests in manufacturing companies that sell highly engineered commercial products that are leaders in their niche and have $2 million to $6 million of EBITDA. The firm was founded in 1984 and has $280 million of capital under management. Fulham & Co. is based in Wellesley, MA (www.fulhamco.com).
Bradford Equities invests in middle-market companies with $15 million to $75 million in annual revenues across a range of industries. Sectors of specific interest include low-technology manufacturing and specialty distribution. The firm was founded in 1974 and is based in White Plains, NY (www.bradfordequities.com).
Philadelphia-based investment bank Janney Montgomery Scott (www.janney.com) was the exclusive financial advisor to Bradford and Alkota. Janney worked with the management team and shareholders throughout the sale process and provided advisory services and managed the preparatory, marketing, negotiation and due diligence phases of the transaction.
2015 PEPD • Private Equity’s Leading News Magazine • 5-5-15