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.
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 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.
CapitalWorks, LLC and Little Mountain Industries, Inc. are pleased to announce the acquisition of the assets of Premium Molding Inc., and the formation of Premium Plastic Solutions LLC, a blow molding company headquartered in Latrobe, PA.
The Cleveland-based firm that has acquired a division of Franklin Electric is just seven years old but has invested in a range of businesses from parking lot management companies to a magazine.
CapitalWorks LLC, founded in 1999, announced last week that it was acquiring the Engineered Motor Products division of Bluffton-based Franklin Electric but intends to keep the manufacturing operations in the Wells County community. [Read more…]
Franklin Electric Co., Inc. (NASDAQ: FELE), the world’s largest manufacturer of submersible electric motors and a global supplier of water pumping systems and fuel pumping systems announced today the sale of its Engineered Motor Products Division (“EMPD”) located in Bluffton, Indiana to CapitalWorks, LLC (“CapitalWorks”) an equity firm based in Cleveland, Ohio. Evarts Capital, LLC advised Franklin Electric on the transaction. Terms of the asset sale were not disclosed.
EMPD manufactures and sells fractional horsepower electric motors primarily to original equipment manufacturers (“OEMs”) for specialty applications such as ice cream dispensers, electric hoists, paint mixing machines and food processing applications. EMPD’s revenue represents less than 10% of Franklin Electric’s consolidated sales. [Read more…]