DFW Capital Partners has made an investment in Superior Controls, a provider of systems integration and automation services to companies in the biotechnology industry. DFW’s investment in Superior Controls will be the seventh platform company in its current fund, DFW Capital Partners IV, LP.
Superior Controls’ services include system integration, testing and validation, and ongoing maintenance of automated manufacturing systems. Many of the company’s engineers are located on-site ensuring that customers remain in compliance at all times with manufacturing standards specified by the FDA and other regulatory organizations. The company averages 90% repeat business year-over-year and has performed work in 24 states and 12 countries.
Superior has a 24,000 sq. ft. facility in Seabrook, NH (about 40 miles north of Boston) that provides office space, documentation storage, equipment staging, calibration and testing operations. The company was founded in 1993 and employs more than 40 automation professionals (www.superiorcontrols.com).
Superior’s two founders, Rick Pierro and Mark LaRoche, remain shareholders in the company and will continue in their current management roles under DFW ownership. “We founded Superior on the simple principle that taking good care of our employees and partners would lead to growth and success with our customers,” said Mr. Pierro. “We are very pleased to be partnering with DFW Capital and look forward to their support, vision and guidance in helping Superior Controls continue its growth and success.”
DFW Capital Partners invests in lower middle-market service companies, with an emphasis on healthcare and outsourced business and industrial support services. The firm is headquartered in Teaneck, NJ, and maintains an office in Chevy Chase, MD (www.dfwcapital.com).
“We are delighted to partner with Rick, Mark and the entire Superior Controls team in helping them continue their history of growth and industry leadership,” said Doug Gilbert, a DFW partner. “We are excited to help expand Superior Controls’ capabilities and geographic footprint through strategic investments in the business.”
Boston-based investment bank C.W. Downer (www.cwdowner.com) was the financial advisor to Superior Controls. The C.W. Downer team included Wade Aust, managing director and partner; Greg Fanikos, director; and analysts Jon Tetirick and Mike Fernandes.
“The founders of Superior Controls have built a rapidly growing company with an innovative service model and exceptional profitability,” said Mr. Aust. “These attributes resulted in strong interest from both strategic investors and financial sponsors and allowed us to maximize value for our client.”
Alcentra Capital (www.alcentracapital.com) provided debt financing and made an equity co-investment alongside DFW and management.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 3-31-16