September 21, 2018
CLEVELAND, OHIO– CapitalWorks, LLC has acquired Cleveland-based Ohio Blow Pipe Company and its subsidiary Advanced Air Systems, Inc. (“OBP”).
Founded over 85 years ago, OBP is a recognized leader in the design, fabrication and installation of pneumatic material handling and dust & oil mist collection systems for a variety of industries including corrugated paper, folding box, and food & beverage can manufacturing among others.
Earlier this year, CapitalWorks developed a Material Handling platform strategy and acquired C&M Conveyor, who also serves the corrugated and folding box industries, as an initial step in that platform. The two companies will work together to expand their markets and strengthen their relationships among common customers.
“Ohio Blow Pipe’s long history, quality product offering, and multi-industry customer base makes it a key addition to CapitalWorks material handling platform,” said Todd Martin, CapitalWorks Managing Director.
Ohio Blow Pipe’s President & CEO Ed Fakeris and Vice President of Engineering Bill Roberts will remain with the Company to help execute both C&M and Ohio Blow Pipe’s strategy. “CapitalWorks is an excellent partner who will help Ohio Blowpipe execute its growth strategy and build on an already strong foundation. Over the last several decades we have taken great pride in the quality and caliber of our products and the dedication of our employees. We will continue on that path with CapitalWorks,” noted Ed Fakeris.
William Centa, former President of capital equipment maker Mayfran International, will join his former Mayfran partner J.D. Sullivan, Jr. on the advisory board.
The acquisition was completed as a part of CapitalWorks’ fourth private equity fund, CapitalWorks Fund IV, L.P. Terms of the deal were not disclosed.
About CapitalWorks
CapitalWorks LLC (capitalworks.net) is a Midwestern and family-focused private equity firm that encourages knowledgeable investors to partner with it in finding, vetting and owning companies. Based in Cleveland, Ohio, CapitalWorks acquires lower middle-market companies in the niche manufacturing, value-added distribution, and business services industries and gives them the capital, support and freedom to grow. Recent acquisitions include C&M Conveyor, GEMCITY Engineering and Manufacturing, Paradigm Windows and Chemtron Corporation. Founded in 1999, CapitalWorks’ investors are primarily successful entrepreneurs and executives who contribute to the evaluation and investment process.
| Dick Hollington
Managing Director, CEO CapitalWorks, LLC |
Todd Martin
Managing Director CapitalWorks, LLC |
Mike Harding
Managing Director, CFO CapitalWorks, LLC |