Waples Manufacturing, a portfolio company of Southlake Equity Group, has been acquired by Banyan Investment Partners. Quarton Partners acted as the exclusive financial advisor to Waples and Southlake in this transaction.
Waples Manufacturing is a full-service provider of precision machined solutions for the oil and gas market. Waples manufactures highly engineered products that are used in a number of severe-duty applications, including hydraulic fracturing pump and tank equipment, cementing, oilfield tooling, plunger lift systems, mining drill rig equipment and aviation communications equipment. Throughout its 50-year history, Waples has developed a sterling reputation among its customer base by manufacturing products under short lead times for both low and high volume applications.
Banyan Investment Partners is a private equity firm based in Miami, Florida that provides private equity and mezzanine capital. Banyan currently has over $400 million of committed capital under management.