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Terry Townsend has joined CapitalWorks’ portfolio company Magna-Tech Manufacturing as chief financial officer from his position as senior project finance manager with the Global Workplace Solutions division of Johnson Controls.

Mr. Townsend was with Johnson Controls for four years before coming to Magna-Tech. Prior to that, he served as a controller, corporate accounting director and senior financial analyst during nine years at diesel engine manufacturer Cummins, Inc. Early in his career, he worked for Caterpillar Financial, Duke Realty, Xerox Credit and Peat Marwick.

[Read more…] about Magna-Tech Adds New CFO

Scott Bettigole has joined CapitalWorks’ portfolio company Capewell Components as chief financial officer. His responsibilities include finance, accounting, human resources, information technology and facilities management.

Mr. Bettigole joins the company from Exelis Power Solutions in West Springfield, Massachusetts, where he served as vice president and controller from 1999-2013.

Prior to Exelis, he held a number of financial positions at Gerber Scientific, becoming controller and chief financial officer for its subsidiary Gerber Coburn Optical. He was previously a senior auditor for the Coopers & Lybrand accounting firm.

[Read more…] about Bettigole Becomes Capewell CFO

(Cleveland, Ohio) Midwestern private equity firm CapitalWorks, LLC, has acquired Avtron Aerospace, Inc., from Morgenthaler Private Equity, the Cleveland and Boston-based private equity team focused on lower middle market buyouts. Terms of the transaction were not disclosed.

Avtron Aerospace is a leading designer and manufacturer of electrical, electronic, and hydraulic aircraft component test solutions for the global commercial and military aerospace markets. The company’s products and solutions serve blue chip customers across the entire aerospace supply chain including aircraft manufacturers, and aircraft component OEMs, commercial airlines, independent MRO providers and foreign and US military forces.

“Avtron Aerospace enjoys market leadership and a reputation for quality and reliability in the hydraulic and generator test equipment markets,” said Dick Hollington, managing partner of CapitalWorks. “It is positioned to capture an increasing share of the growing global aircraft market. We look forward to supporting their long-term vision.” [Read more…] about CapitalWorks Brings Avtron Aerospace into its Family of Companies

CapitalWorks portfolio company Bluffton Motor Works has acquired RAE Corporation, a manufacturer of fractional horsepower permanent magnet motors, gears and controls for pumps, medical equipment, door and gate operators, office machines, food processing and many other industrial and commercial applications.

The acquisition was made through Bluffton affiliate DC Products Group. RAE was founded in 1946 in Wisconsin and is now based in McHenry, Illinois.

“We are excited to have the RAE team in the Bluffton family,” said David Nussear, Bluffton Motors president. “RAE provides excellent engineering, quality and customer service and is a good fit with Bluffton. This enables our customers to benefit from a wide selection of value-added products from a single source.”

In addition to its motor and controller products RAE develops custom designs and offers application engineering support.

[Read more…] about Bluffton Motor Works Acquires Fractional Motor and Gear Maker

HERMITAGE, PA and SOLON OH, – October 15, 2013 – F.N.B. Corporation (NYSE: FNB), parent company of First National Bank of Pennsylvania, today announced that on October 12, 2013, it completed its merger with PVF Capital Corp. (PVFC), parent company of Park View Federal Savings Bank. As a result of the merger, First National Bank will operate a total of 29 banking offices in Ohio, including 18 in the greater Cleveland area. Prior to completing the merger, FNB obtained all required legal and regulatory approvals, and PVFC shareholders approved the transaction. Shares of PVF Capital Corp. will no longer be traded on the NASDAQ stock exchange. [Read more…] about F.N.B. Corporation Finalizes Cleveland Expansion

Sports media company STACK Media has partnered with a new social network startup focused on sports called Sport Street.

The partnership is modeled along the lines of a content syndication deal and allows Sport Street users to collect and share STACK content across the network.

“We use Brightcove as our OVP and we’re supplying a few dedicated players to Sport Street for integration into specific pages of their site for their users to consume STACK’s original videos online and eventually through their mobile app,” says Chad Zimmerman, STACK’s co-founder, president and COO. [Read more…] about STACK Media Forms Content Partnership with Sports-Themed Social Network

HERMITAGE, PA and SOLON, OH, Feb. 19, 2013 — F.N.B. Corporation (NYSE: FNB) and PVF Capital Corp. (NASDAQ: PVFC) jointly announce the signing of a definitive merger agreement pursuant to which F.N.B. Corporation will acquire PVF Capital Corp., the Solon-based holding company and parent of Park View Federal Savings Bank, in an all stock transaction valued at approximately $3.98 per share, or $106.4 million in the aggregate using the 20-day trailing stock price of F.N.B. Corporation as of Friday, February 15, 2013. [Read more…] about PVF Capital to be Acquired by FNB

• Net income of $2.7 million for the quarter, boosted by strong mortgage banking results and improved mix of earning assets
• Momentum building in commercial loan growth
• Core operating results continue to improve and reflect the impact of the ongoing business transformation
• Capital ratios remain strong
• Fiscal 2012 and First Quarter Fiscal 2013 results revised for correction deemed immaterial

Solon, OH – PVF Capital Corp. (Nasdaq: PVFC), the parent company of Park View Federal Savings Bank, announced net income of $2.7 million, or $0.10 basic and diluted earnings per share, for the fiscal 2013 second quarter ended December 31, 2012. These results compare favorably with a net loss of $1.9 million, or $0.07 basic and diluted loss per share, for the prior-year quarter and net income of $1.4 million, or $0.05 basic and diluted earnings per share, for the fiscal 2013 first quarter ended September 30, 2012.

Robert J. King, Jr., President and Chief Executive Officer, commented, “We are pleased with our continued progress in all areas, including mortgage originations and refinancing, commercial lending, and relationship banking. As a result of our strategic transformation, we are generating solid revenue growth and strengthening our balance sheet, which has led to strong momentum and improved operating performance for Park View.” [Read more…] about PVF Capital Corp. Announces Increased Earnings for Fiscal 2013 Second Quarter

David Dolan, CEO, announced that Christopher Hafke has joined KKSP Precision Machining as vice president of operations. Chris comes to KKSP with over 22 years of manufacturing operations accomplishment including over 14 years of successful profit and loss responsibility. Chris brings experience as president, COO, and director/vice president of operations with a multi-national Fortune 500 Corporation. He recently severed as group plant manager for a major manufacturing and distribution corporation with operations in the U.S. and Mexico. Lean Certification, Baldrige Examiner, Six Sigma and High Volume Continuous Improvement are included in Chris’ expertise.

Solon, OH – PVF Capital Corp. (Nasdaq: PVFC), the parent company of Park View Federal Savings Bank, announced today that the Office of the Comptroller of the Currency (OCC) has lifted the regulatory order that has been in effect with respect to the Bank since October 2009. The Bank has met the targets established by the regulatory order, including tier one capital, risk-based capital and classified and criticized assets ratios, as well as achieving profitability.

Robert J. King, Jr., President and Chief Executive Officer, commented, “The OCC’s removal of the regulatory order is a significant milestone and a major step forward for Park View. We continue to strengthen our position for long-term growth and profitability, and we have seen steady improvement in earnings and asset quality. We have broadened our product offerings, added resources to our commercial banking and small-business lending teams, and will continue to focus on our transformation strategy to deliver sustained profitability as a strong community bank.” [Read more…] about PVF Capital Corp. Announces Termination of October 2009 Regulatory Order

David Dolan, CEO, announced that Mark Murray has joined KKSP Precision Machining as vice president and CFO. Mark came from Doumak where he was a controller for a multi-plant manufacturer. He established key performance indicators and rigorous controls in a rapid new product and sales growth environment. Prior to joining Doumak, Mark was a controller for IMS Olson, formerly Olson International, where he was responsible for financial and management accounting and reporting, budgeting, cash flow and asset management, product costing, risk management and strategic planning as a member of the executive management team.

• Net income for the fiscal 2012 fourth quarter of $0.8 million, fueled by strong mortgage banking revenue
• Company achieves its 11th consecutive quarterly improvement in key regulatory asset quality ratios and meets asset quality targets established by the regulatory order
• Nonperforming assets decline $5.5 million or 16.5%
• Capital ratios remain strong and exceed prescribed regulatory levels

Solon, OH – PVF Capital Corp. (Nasdaq: PVFC), the parent company of Park View Federal Savings Bank, announced net income of $0.8 million, or $0.03 basic and diluted earnings per share, for the quarter ended June 30, 2012. These results compare with a net loss of $2.6 million, or $0.10 basic and diluted loss per share, for the prior-year quarter, and net income of $0.4 million, or $0.02 basic and diluted earnings per share, for the quarter ended March 31, 2012. For the full-year fiscal 2012, the Company reported a net loss of $1.3 million, or $0.05 basic and diluted loss per share, compared with a net loss for the prior year of $9.7 million, or $0.38 basic and diluted loss per share. [Read more…] about PVF Capital Corp. Announces Fiscal 2012 Fourth-Quarter Earnings and Full-Year Financial Results

The Fort Wayne Journal Gazette covered the acquisition of Toledo Gear Motor by CapitalWorks’ portfolio company Bluffton Motor Works. In the article, Bluffton President David Nussear briefly discusses the strategic significance of the purchase. Read the article here.

CapitalWorks, LLC and its affiliate fund, Short Vincent Partners II, are pleased to announce the acquisition of Magna-Tech Manufacturing.  Magna-Tech  is the largest independent provider of vacuum impregnation sealing solutions in North America for both cast metal and electronic components.  The Company also offers metal machining, leak testing, chromating, cleaning, shot blasting, sub assembly, thermal deburring and sorting services.  Its customers primarily produce components for the automotive, railcar, pleasure boat, electric motor, electronic module and wire/cable industries.  Magna-Tech is headquartered in Muncie, Indiana.

CapitalWorks, LLC and its affiliate fund, Short Vincent Partners II, are pleased to announce the acquisition of KKSP Precision Machining based in Glendale Heights, Illinois.  KKSP is a leading North American manufacturer of high-volume, precision metal components.  The Company produces brass, steel, aluminum, and bronze parts, often on a sole-source basis, for multinational, blue chip original equipment manufacturers (“OEMs”) in the automotive, fire protection, appliance, commercial construction electronics, and farm equipment markets.

NEW YORK, NY — (Marketwire) — 01/05/12 — On the heels of launching STACK 4W, STACK Varsity and STACK Gamer, STACK Media, Inc. is unveiling STACK Basic Training (basictraining.stack.com), a website delivering quality information and advice on workouts and training, leadership skills and problem solving — straight from some of the highest ranking soldiers in the United States military.

Providing the latest news and information from all branches of the Armed Forces — Army, Navy, Air Force, Marines, Coast Guard and Army National Guard — STACK Basic Training is the ultimate destination for athletes checking out military options, seeking college scholarship assistance and exploring career choices — and for anyone looking to develop leadership skills and mental toughness to enhance their athletic résumés. [Read more…] about STACK Media Launches Educational Military Site: STACK Basic Training

STACK Media Launches Vertical Content Site for Gaming and Entertainment

New STACK Gamer Site Leverages the Company’s Relationships With Professional Athletes, Top Video Game Sites and Video Game Publishers

NEW YORK, NY–(Marketwire – Dec 7, 2011) – STACK Media, Inc. is unveiling STACK Gamer (www.stackgamer.com), a vertical content site providing entertainment content and how-to information for video gamers — with a focus on improving performance in virtual competitions. An extension of STACK.com, the nation’s leading multimedia platform for active sports participants, STACK Gamer will address the off-the-field needs and interests of athletes and connect with “virtual athletes” — catering to the athletic lifestyle, which is closely tied to gaming and entertainment. [Read more…] about STACK Media Launches Vertical Content Site for Gaming and Entertainment

The New Platform Leverages the Company’s Relationships With 12,000 U.S. High Schools, Allowing Teams, Athletes and Coaches to Create Online Content and Get Published via STACK’s Various Media Properties

NEW YORK, NY–(Marketwire -11/02/11)- STACK Media, Inc., the nation’s leading multimedia company serving active sports participants, today announced the launch of STACK Varsity (www.stackvarsity.com), a social content platform that allows high school teams, athletes and coaches to create content and earn opportunities to be published in STACK Magazine and on the Company’s various digital properties. In addition, STACK announced a strategic alliance with Varsity Networks, Inc., a high school sports and Internet services company.

Growth of High School Sports

In 2010-11, participation in high school sports increased for the 22nd consecutive year, according to the annual High School Athletics Participation Survey conducted by the National Federation of State High School Associations (NFHS). Based on figures from the 50 state high school athletic associations and the District of Columbia (all members of NFHS), sports participation during the 2010-11 school year set another new record, totaling 7,667,955 student-athletes. The survey reported that 55.5 percent of students enrolled in U.S. high schools participate in sports. Further, according to NFHS, more fans attended high school basketball and football games than attended college and professional games combined. During the 2009-10 school year, attendance at high school sporting events — for the 16 sports with the highest participation rates — reached approximately 510 million: 468 million for regular season events and 42 million for state playoff contests. [Read more…] about STACK Media Launches Social Content Platform for High School Sports

NEW YORK, NY–(Marketwire -10/26/11)- STACK Media, the nation’s leading provider of sports performance information and services for athletes, is pleased to announce the creation of STACK for Women (www.stack4w.com), launching on October 26, 2011.

STACK 4W will be the ultimate destination for female athletes looking to reach the next level — another STACK platform with authoritative and actionable “how-to” content and guidance on training, fitness, nutrition, sports skills, gear, and lifestyle. [Read more…] about STACK Media Launches Women’s Site: STACK 4W