Investment bank BlackArch Partners was the exclusive financial adviser to ZS Fund on the recent sale of its portfolio company, Industrial Air Tool, to Pipeline Supply & Service, a portfolio company of Broad Street Energy Partners, an investment affiliate of Goldman Sachs. ZS Fund acquired Industrial Air Tool in August 2008.
Industrial Air Tool is a distributor of winches and hoists; industrial tools; MRO and safety supplies; and spare parts to the upstream and downstream energy, and industrial end markets. The company was founded in 1966 and is headquartered in Pasadena, TX (www.industrialairtool.com).
“We have chosen to work with BlackArch on multiple occasions due to their balanced approach of not only maximizing shareholder value but also addressing the various objectives of management teams as well as buyers,” said Bob Horne, a Partner of ZS Fund. “As a result, we have developed enormous trust in the BlackArch team to get all parties focused on agreeing to the key terms necessary to get a transaction closed. We value the personal connection we have developed with their team and look forward to working with them again.”
BlackArch Partners is a middle-market investment bank that offers advisory services to financial sponsors, private companies and corporations. The firm has 12 industry-focused practices as follows: aerospace, defense & government services; technology & digital media; automotive aftermarket; business & professional services; consumer & retail; distribution & supply chain management; energy; food, beverage & agribusiness; healthcare; manufacturing; infrastructure & construction; and transportation & logistics.
BlackArch was founded in early 2010 by Kelly Katterhagen, Matt Salisbury, Drew Quartapella, and Bram Hall. The firm is headquartered in Charlotte, NC, with an additional office in Houston (www.blackarchpartners.com).
ZS Fund invests in public and private companies that have annual operating profits from $4 million to $30 million. Through its current and prior private equity funds, ZS has invested in more than forty companies with an aggregate value of approximately $2 billion. ZS was founded in 1985 and is headquartered in New York (www.zsfundlp.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-30-14