JZ CAPITAL PARTNERS ACQUIRES MIDWEST VALVE PARTS
~ New acquisition expands JZCP's Industrial Services Solutions segment ~
24 April 2015
JZ Capital Partners Limited (LSE:JZCP.L or "JZCP"), the London listed private
equity fund that invests in high quality US and European microcap companies and
US real estate, has acquired Midwest Valve Parts ("MVP") alongside its long-term
investment partner The Edgewater Funds.
The acquisition of MVP is an add-on to Industrial Services Solutions' ("ISS")
existing Specialty Products Group ("SPG"), and marks the third acquisition made
into SPG (joining Worthington Compressors and Parts Service International). Led
by Jim Rogers, a GE veteran who has extensive industry experience, ISS is
generating annual sales and EBITDA in excess of US$260 million and US$45
million, respectively.
MVP is an independent supplier of replacement parts for valves, actuators, and
related equipment to valve remanufacturers, as well as direct to end users in a
variety of markets, including: oilfield services, power generation, mining, and
process industries such as refineries, chemical plants and pharmaceutical
companies.
The acquisition of MVP was funded with US$3.8 million in third party debt and a
US$0.5 million subordinated seller note. JZCP owns approximately 34% of the
combined entity.
David Zalaznick, JZCP's Founder and Investment Adviser, commented: "MVP is an
excellent addition to our Industrial Services platform. Together with the
management team, we look forward to integrating MVPinto our Specialty Products
Group and helping to further grow this already strong asset."
Ends
For further information:
Ed Berry / Kit Dunford +44 (0) 20 3727 1143
FTI Consulting
David Zalaznick +1 212 4859410
Jordan/Zalaznick Advisers, Inc.
Andrew Maiden +44 (0) 1481 745368
JZ Capital Partners
About JZCP
JZCP is a London listed private equity fund which invests in high quality
microcap companies, real estate and other debt and equity opportunities
globally but with a particular focus on opportunities in the US and Europe. Its
corporate objective is to create a portfolio of investments providing a
superior overall return comprised of a current yield and significant capital
appreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers,
Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They have worked
together for 30 years and are supported by teams of investment professionals in
New York, Chicago, London and Madrid. JZAI's experts work with the existing
management of microcap companies to help build better businesses, create value
and deliver strong returns for investors. JZCP, with the advice of JZAI,
targets predominantly private investments, seeking to back exceptional
management teams to deliver on attractive investment propositions. For more
information please visit www.jzcp.com.
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