Compass Group Equity Partners has formed EPIC Systems Group LLC to acquire EPIC Systems Inc.
EPIC Systems is a design, procure and build engineering firm with a focus on modular processes, pilot plants, distillation systems, packaging and assembly lines, industrial automation, and machine vision systems. Customers include, among others, Anheuser Busch, Procter & Gamble, Monsanto, Boeing and Nestle.
EPIC was founded in 1995 by John Schott and Matt Quinn as Electrical, Process, Instrumentation and Control (EPIC) Systems. The company is headquartered in St. Louis (www.epicsysinc.com).
Mr. Schott will continue in his role as president of the company and he has retained an equity ownership position. Additionally, all employees and members of EPIC’s senior management team will remain with the company. “The most valuable and important asset of a company is its people and John Schott has assembled a great organization and a great group. People are what we are interested in investing in,” said Bill Morgan, Compass Group Operating Partner.
“We look forward to joining Compass Group, which will expand our capabilities and industry footprint,” said Mr. Schott. “Our team provides practical design/ build solutions, built on years of plant and project management experience. Adding Compass Group will allow us to add talent and infrastructure, to grow more quickly and continue to be the market leader in the process engineering space. We will be able to stay on the forefront of industry advancements and practical engineered systems.”
Compass Group Equity Partners invests from $2 million to $15 million of equity in companies that have enterprise values of $10 million to $50 million and EBITDA of $1 million to $10 million. Sectors of interest include manufacturing, value-added distribution, and business services. Compass Group was founded in 2014 and is headquartered in St. Louis (www.cgep.com).
© 2018 Private Equity Professional | August 2, 2018