CLEVELAND, Ohio – Cleveland based private equity firm CapitalWorks has successfully completed dividend recapitalizations for portfolio companies Bluffton Motor Works and KKSP Precision Machining. Strong operating and financial performance of the businesses over the past two years and a favorable credit market made the recapitalizations possible. Proceeds were distributed to shareholders.
Bluffton Motor Works manufactures custom fractional horsepower motors for a wide array of industries. KKSP Precision Machining is the largest independent operator of cam operated multi spindle screw machines in the United States. Both companies have benefited from the improved economy while also improving their market penetration and operating performance.
“We can’t say enough about the performance of these two talented management teams,” said CapitalWorks Managing Partner Dick Hollington. “Their focus and dedication has driven solid growth and profitability and has put them in position to take advantage of the favorable credit environment, enabling us to distribute funds to our shareholders.”
Founded in 1999, CapitalWorks seeks control investments in smaller middle market companies across the United States and Canada. CapitalWorks is currently investing from its 4th fund. Total firm assets are approximately $100 million.
CapitalWorks focuses on transactions in manufacturing, value-added distribution, business services, financial services and other markets where we and our partners have domain expertise and the ability to add strategic value. Our limited partners include high net worth entrepreneurs and business executives who assist the firm with due diligence, strategic planning, business development and corporate governance.
Dick Hollington (firstname.lastname@example.org)
Phone (216) 781-3233