(Cleveland, Ohio) Midwestern private equity firm CapitalWorks, LLC, has acquired Capewell Systems, Ripley Tools and MH Rhodes Cramer from the Capewell Components Holding Company owned by New York City private investment firm Meriwether Capital. Terms were not disclosed.
Capewell Systems (capewell.com) designs and manufactures highly advanced aerial delivery systems, parachute hardware and emergency descent devices. Capewell aerial delivery systems are used in military transport aircraft across the world. The company is also the exclusive manufacturer and supplier of the Emergency Descent Device (EDD), a safe method for rapidly descending up to seventy feet in an emergency.
“Capewell has provided leading edge life support and aerial logistics technology to the military for more than 130 years,” said Todd Martin, partner at CapitalWorks. “We will support the continued advancement of Capewell’s technology as well as its longstanding commitment to excellence.”
Ripley Tools is the leading designer and manufacturer of high-end hand tools for the cable TV, telecom, fiber optic and electrical utility markets. The company’s products and solutions serve industry leading OEM’s and distributors in North America, Europe and Asia. Ripley (ripley-tools.com) markets products under the trade names Ripley®, Miller®, Cablematic™, Utility Tool® and Abeco.
“Ripley is the leading name in telecom and utility hand tools,” said Rob McCreary, managing partner of CapitalWorks, “and an excellent fit with our focus on investing in quality lower middle-market companies that make industrial products. We look forward to continuing its leadership in product innovation and commitment to total customer service and quality.”
MH Rhodes Cramer (mhrhodes.com) produces rugged electrical and mechanical timers used in applications ranging from commercial food service and energy management to military applications as well as fractional horsepower hysteresis motors for the HVAC industry.
Capewell President and CEO Rick Wheeler said, “Capewell, Rhodes Cramer and Ripley will benefit greatly from the outstanding aerospace, electronics, fractional motor and telecom experience resident in the CapitalWorks network as well as its strategic mindset. We’re enthusiastic about partnering with CapitalWorks.” Capewell, Rhodes Cramer and Ripley are based in Connecticut.
This is the second acquisition for CapitalWorks latest fund. In December, the firm acquired Avtron Aerospace, a leading designer and manufacturer of electrical, electronic, and hydraulic aircraft component test solutions for the global commercial and military aerospace markets. Founded in 1953, Avtron is located in Independence, Ohio with sales offices in Beijing, China.
CapitalWorks is a family-focused private equity investor that encourages its knowledgeable and experienced entrepreneurial and executive investors to participate in finding, vetting and owning companies. McCreary said the firm, “acquires lower middle-market companies and provides them the capital, support and freedom to grow, including the knowledge of our investor-partners.”
About CapitalWorks
CapitalWorks (capitalworks.net) is a Midwestern and family-focused private equity firm that encourages knowledgeable investors to partner with us in finding, vetting and owning companies. The firm acquires lower middle-market companies in the Greater Midwest and invests with a bias toward value and preservation of capital. Founded by Rob McCreary in 1999, the company is now managing its fourth fund. Offices are in the eastern suburbs of Cleveland, Ohio.
CapitalWorks Media Contact
Todd Martin, 216-472-5545; tmartin@capitalworks.net