Transaction
Quarton International is pleased to announce that Allied Reliability Group (“Allied”), a portfolio company of Pfingsten Partners, has merged with T.F. Hudgins, a portfolio company of The CapStreet Group. Quarton International acted as the exclusive financial advisor to Pfingsten and Allied in connection with the merger.
John Schultz, CEO and Founding Partner of Allied said, “It is exciting to be joining forces with an organization that has the same level of commitment to reliability. At Allied, we have built our business on listening to and understanding our customers’ needs, and delivering superior technical capabilities – with the combination of our two companies, we will be in an even better position to drive innovation and deliver exceptional value to the global reliability community.”
Jay Burnette, CEO of T.F. Hudgins, who will lead the combined company as CEO commented, “We are extremely excited to bring our two companies together for the benefit of our collective customers, employees and stakeholders. This combination will accelerate our growth in the expanding equipment reliability space, particularly with a much broader condition-based monitoring and advanced diagnostics offering. We believe this will create significant value for our customers.”
Unternehmen
Pfingsten Partners, headquartered in Chicago, Illinois, is an operationally focused private equity firm formed in 1989. The firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 114 manufacturing, distribution and business services companies. Pfingsten has also established representative offices in ChangAn, China, Chennai, India and New Delhi, India.
Buyer
The CapStreet Group, headquartered in Houston, Texas, is a private equity firm that invests in owner managed, lower middle market companies headquartered in Texas and surrounding states, with a particular emphasis on companies headquartered in the greater Houston area. CapStreet was founded in 1990 and targets companies operating in the industrial distribution, industrial manufacturing and business service sectors and partners with management to accelerate growth and improve profitability.
Allied Reliability Group, headquartered in Charleston, South Carolina, is a leading, global provider of maintenance and reliability services to commercial and industrial companies. Allied’s products and services help customers reduce maintenance costs while increasing equipment uptime, improving employee safety and strengthening regulatory compliance.
T.F. Hudgins, headquartered in Houston, Texas, provides highly engineered products and services that improve the reliability of high-value equipment. Primary end-markets include midstream oil & gas, petrochemical, refining and other industrial process industries.
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