industrial controls

Pfingsten Adds-on to Electro-Hydraulic Systems Platform

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Bailey International, a portfolio company of Pfingsten Partners, has acquired Sure Grip Controls, a maker of mobile hydraulic equipment controls.  This is Bailey’s first add-on acquisition since Pfingsten became the majority shareholder in April 2012.

Sure Grip is a designer and manufacturer of joysticks, control grips and controllers for use on forestry, construction and other mobile hydraulic equipment. The company has more than 1,200 SKUs and sells its products to original equipment manufacturers and distributors. Sure Grip was founded in 1996 and is based south of Vancouver in Saanichton, BC (www.suregripcontrols.com).

“The acquisition of Sure Grip adds strength in the controller and human interface elements of electro-hydraulic systems and strongly supports our strategy for full systems designs for our customers,” said Kevin Bailey, Chief Executive Officer of Bailey.

Bailey International is a manufacturer and distributor of fluid power components including hydraulic cylinders, power units, pumps, valves, motors, hoses and fittings, bearings and bushings used primarily in mobile equipment applications. The company was founded in 1976 and is headquartered in Knoxville, TN (www.baileynet.com).

“Sure Grip is an outstanding business with a leading brand name in mobile hydraulics. They combine innovative design, quality products and high levels of service to deliver a total customer solution,” said Ken Baker, Chief Operating Officer of Bailey.

Pfingsten Partners invests in middle market manufacturing, distribution and business services companies.  Since its founding in 1989, Pfingsten has raised four investment funds with total commitments of approximately $1 billion.  The firm is based in Chicago with additional offices in India and China (www.pfingsten.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 2-11-15

Falfurrias Acquires Advanced Control Systems

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Falfurrias Capital Partners has acquired Advanced Control Systems, a supplier of utility automation systems worldwide.

Advanced Control Systems manufactures products and systems that control key functions relating to the transmission and distribution of power, including supervisory control and data acquisition (SCADA) systems, energy management systems, distribution management systems, outage management systems, and feeder automation solutions. The company was founded in 1975 and is headquartered in Norcross, GA (www.efacec-acs.com).

“Falfurrias Capital Partners is pleased to have the opportunity to work with the ACS team. ACS’ technology solutions and deep relationships in the utility industry complement those of ITEC and enable NATDG to offer additional capabilities to its utility customers,” said Ed McMahan, partner with Falfurrias Capital. “As we support the growth objectives of ITEC and ACS, we continue to pursue additional opportunities presented by the need for significant ongoing investment in our nation’s electrical grid.”

Advanced Control Systems (ACS), will be merged with Instrument Transformer Equipment Corporation (ITEC) as part of North American Transmission & Distribution Group (NATDG) – a platform formed by Falfurrias in March 2013 to acquire and grow US-based companies that support mission-critical elements of the electric utility grid. ITEC was acquired by Falfurrias in March 2013 as the first acquisition for NATDG. ITEC is an original equipment manufacturer of instrument transformer products used by electric utilities and industrial customers. ITEC was founded in 1993 and is based in Charlotte, NC (www.itec-ctvt.com).

Falfurrias Capital Partners makes equity investments of at least $3 million in companies with revenues in excess of $10 million and EBITDAs in excess of $2 million. Industries of interest include financial services; consumer products; health care; building products; diversified manufacturing; business services; education, training, and information services; and infrastructure services. Falfurrias was founded by former Bank of America Chairman and CEO Hugh McColl Jr. and former Bank of America CFO Marc Oken. The firm is based in Charlotte, NC (www.falfurriascapital.com).

“The addition of Advanced Control Systems, like our initial investment in ITEC last year, is a significant step toward our goal of making NATDG a leading supplier of the technology needed to help utilities maintain a modern, safe, and reliable electric power infrastructure,” said Dave Pacyna, chief executive of NATDG. “Advanced Control Systems is well positioned to capitalize on the increasing adoption of grid automation solutions, and we look forward to working with the company’s outstanding management team to leverage this and other growth opportunities.”

© 2014 PEPD • Private Equity’s Leading News Magazine • 3-25-14

High Road Acquires Canadian Process & Control

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Celco Controls, a portfolio company of High Road Capital Partners, has completed the acquisition of Canadian Process & Control. The transaction closed on January 29, 2014.

Canadian Process & Control designs, manufactures, and installs customized process control systems for the resource, refining, chemical, wastewater treatment, and manufacturing industries. The company was founded in 1963 and is headquartered near Vancouver in Port Coquitlam, BC (www.cpc.ca).

“Canadian Process & Control is a market-leading provider of automation solutions to process-based industries,” said Jeff Goodrich, High Road Partner. “This acquisition solidifies Celco Controls’ position as a leader in the automation marketplace in Western Canada by increasing its service offering and expanding its geographical reach.”

Celco Controls engineers, programs, and assembles customized automation control systems for a variety of end-markets, including resource, refining, chemical, wastewater treatment and manufacturing industries. The company was founded in 1979 and acquired by High Road in March 2010. Celco Controls is headquartered in Winnipeg, MB (www.celcocontrols.com).

High Road Capital Partners invests in manufacturing, service, or value-added distribution businesses with revenues of $10 million to $100 million and EBITDAs of $3 million to $10 million. The firm was formed in 2007 and currently manages over $470 million of committed capital. High Road has completed 30 transactions, comprising 28 acquisitions – 12 platform investments, 16 add-on acquisitions – and two exits since its founding in 2007. High Road is based in New York (www.highroadcap.com).

Jeff Goodrich, Partner, led the transaction for High Road. Also working on the transaction from High Road were Jerry Anderson, Partner, and Paul Langley, Senior Associate.

© 2014 PEPD • Private Equity’s Leading News Magazine • 2-14-14