Pinewell Capital has acquired Fogco Systems, a manufacturer of high pressure mist and fog systems.
Fogco Systems is one of the original pioneers of high pressure fog systems and has developed numerous proprietary products for the industry. The company’s products are sold to the industrial, commercial, and residential markets and include a range of products from entry-level mist systems to custom products that are used for outdoor cooling, industrial humidification, dust suppression, odor control, and special effects. Products include direct drive mist pumps; complex computer controlled pumps; directionally adjustable nozzles; cooling and humidification fans; air injection systems; and automated control systems. Fogco was founded in 1989 and is based in Chandler, AZ (www.fogco.com).
“At Pinewell, we seek to partner with and support companies that lead in their respected fields and share our core values stressing people, integrity and continual improvement,” said Yuta Matsui, Partner at Pinewell Capital. “In Fogco, we found a promising company with a great team; from its president, Gary Wintering, to all its managers and employees.”
Pinewell Capital invests in companies with enterprise values between $2 million and $50 million or that have EBITDAs of $500,000 to $10 million. Companies of interest include niche manufacturers, unique product-based or service-based companies and companies in the healthcare sector. Pinewell is based in Scottsdale, AZ (www.pinewellcapital.com).
“Fogco has been growing rapidly, and together with a shared vision and resources, we strongly believe we can accelerate this growth and enhance our capabilities to deliver solutions to our customers’ evolving needs,” added Ziv Bendor, Partner at Pinewell Capital.
“We are eager to leverage our 29 years of industry experience combined with the committed resources and support of Pinewell Capital,” said Gary Wintering, President and CEO of Fogco. “Pinewell’s extensive business knowledge and experience will help to further bolster our already fast-growing capabilities and to maintain our company’s primary objective of being the best company in our space.”
Investment bank Generational Equity (www.genequityco.com) was the financial advisor to Fogco Systems.
© 2017 Private Equity Professional | May 4, 2017
