Gen Cap America has sold Myco Trailers to Propst Development. Gen Cap acquired Myco in March 2007.
Myco is a provider of custom designed boat trailers that are used in the high-performance boating industry and to the US Coast Guard, US Customs, Naval Special Warfare and Navy Seals. The company, led by CEO Tim Moran, was founded in 1974 and is headquartered in Bradenton, FL (www.mycotrailers.com).
“We have valued highly our partnership with Gen Cap and believe their support has been a strong contributor to Myco’s success,” said Mr. Moran.
“The team at Myco was a key factor in Gen Cap’s investment ten years ago, and we believe they will continue their track record of success going forward,” said Chris Godwin, Managing Director at Gen Cap America.
Gen Cap America invests in companies with revenues between $5 million and $100 million that are active in the manufacturing, distribution or service sectors. The firm is currently investing through Southwest Fund VII, a $250 million fund which had a final close at its hard cap in January 2017. Gen Cap was founded in 1985 and is based in Nashville (www.gencapamerica.com).
Propst Development is a family office based in Huntsville, AL. In 1983, William Propst, Sr. founded Qualitest Pharmaceuticals, a distributor and manufacturer of generic pharmaceuticals. The company was sold in September 2007 to Apax Partners in a transaction that was valued at more than $1 billion.
© 2018 Private Equity Professional | February 21, 2018
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