Pfingsten Partners has made a majority investment in Allied Reliability Group, a provider of industrial reliability and maintenance services. The founding shareholders of Allied retain a significant ownership stake in the company. This is the thirteenth platform investment for the Pfingsten’s $525 Million Fund IV.
“Allied has a unique value proposition and is well positioned in the growing condition based monitoring and asset reliability market,” said John Underwood, Senior Managing Director at Pfingsten. “The Allied management team built a great business and we are excited to partner with them to assist with further growth.”
Allied Reliability Group provides reliability and maintenance services that help industrial companies and government agencies reduce maintenance costs and increase equipment uptime and throughput. Services include condition based monitoring, reliability and operational consulting, training, staffing and integrated software solutions. The company was founded in 1997 and is based in Charleston, SC (www.alliedreliabilitygroup.com).
“The future is bright for Allied,” said Allied Partner and Co-Founder, John Schultz, “with Pfingsten’s operational expertise, global capabilities and financial support we will have the resources to embark on our next stage of growth by investing in a broader service offering and expanding our reach internationally.”
Pfingsten Partners invests in middle market manufacturing, distribution and business services companies. Since completing its first investment in 1991, Pfingsten Partners has acquired 91 manufacturing, distribution, and business service companies and has over $1 billion of capital under management. The firm is based in Chicago and has offices in New Delhi and ChangAn, China (www.pfingsten.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-26-13