Private Equity Deal News CapitalWorks

Ripley Tools Acquires Optical Design Manufacturing Inc.

CLEVELAND, OHIO – Ripley Tools, a portfolio investment of Cleveland-based private equity firm CapitalWorks, LLC, announced today the acquisition of Optical Design Manufacturing Inc. (“ODM”), a designer and manufacturer of quality fiber optic testing equipment.  ODM’s electronics expertise will expand Ripley’s current product offering and provide additional solutions to

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CapitalWorks Exits Investment in Premium Plastic Solutions

CLEVELAND, OHIO – Cleveland private equity firm CapitalWorks, LLC announced today the sale of its investment in Premium Plastic Solutions, LLC (“PPS”), a custom blow molder, to Universal Plastics, a producer of large plastic parts with complex designs and excellent cosmetics. Terms of the deal were not disclosed. “CapitalWorks

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CapitalWorks Exits Investment in KKSP Precision Machining

CLEVELAND, OHIO – Cleveland private equity firm CapitalWorks announced today the sale of its investment in KKSP Precision Machining, one of North America’s leading manufacturers of machined metal components produced on automatic screw machines, to Mill Point Capital a middle-market private equity firm. Terms of the deal were not

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Final Close of Fund IV Reaches $125 million Hard Cap

(Cleveland, Ohio) — CapitalWorks, LLC, held its final close on CapitalWorks Fund IV at $125,585,000 today, November 30, 2017. CapitalWorks’ traditional family investors have been joined by several leading institutional investors, including an insurance company and several family offices, to exceed the fund’s initial hard cap. Among the investor group

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CapitalWorks Acquires GEMCITY as First Fund IV Platform Acquisition

CLEVELAND, OHIO – Cleveland private equity firm CapitalWorks has acquired GEMCITY Engineering and Manufacturing (“GEMCITY”), a leading manufacturer and provider of advanced automated equipment, complex assemblies, robotics, and high precision machining. Terms of the deal were not disclosed. The acquisition represents the first investment for CapitalWorks Fund IV, L.P.,

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Farewell and Thank You Brittany Roth

It is with mixed emotions that we announce Brittany Roth will be departing from CapitalWorks, LLC effective Friday, March 24, 2017. Brittany joined the firm in October 2014 and since that time has worked to manage our office logistics, organize our travel, maintain our deal processing and portfolio company

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Chemtron Corporation Acquires Chemical Pack Services, Inc.

CLEVELAND, OH – Cleveland based private equity firm CapitalWorks, LLC, announced today the add-on acquisition of Chemical Pack Services, Inc. to its portfolio company, Chemtron Corporation. Chemical Pack is a hazardous waste management services company specializing in lab pack waste services. Terms of the deal were not disclosed. Chemtron

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CapitalWorks Announces Relocation

CLEVELAND, OH – CapitalWorks LLC is moving its offices downtown Cleveland to the Oswald Centre at 1100 Superior Avenue. The firm will begin operating out of the new location on December 19, 2016. CapitalWorks CEO Dick Hollington commented, “The new location will accommodate our firm’s needs and enable more networking

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CapitalWorks Announces New Team Promotions

In recognition of their onging contributions to the firm, CapitalWorks is pleased to announce the promotions of Todd Martin, Mike Harding, John Corrigan and Matt Lombardo. Martin and Harding have been named managing directors, Corrigan and Lombardo vice president. W. Todd Martin, Managing Director Mr. Martin’s responsibilities include developing

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CapitalWorks Exits Investment in Bluffton Motor Works

CLEVELAND, OHIO – Cleveland private equity firm CapitalWorks announced today the sale of its portfolio company, Bluffton Motor Works, to WEG S.A. Bluffton Motor Works is a leading manufacturer of sub-five horsepower motors that power a wide variety of applications throughout the world. Terms of the deal were not disclosed.

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CapitalWorks Exits Investment in Magna-Tech Manufacturing

Cleveland, OH – CapitalWorks LLC, a lower middle market private equity firm, announced today the sale of its portfolio company, Magna-Tech Manufacturing, to Henkel Corporation. Magna-Tech Manufacturing is the North American market leader in vacuum impregnation services, with a focus on process center capabilities. Magna-Tech will function as a

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CapitalWorks Acquires Environmental Waste Management Solutions Company Chemtron Corporation

Cleveland, OH – Expanding its portfolio of strong middle market businesses, CapitalWorks, LLC, has acquired a majority interest in Chemtron Corporation, a privately-held environmental waste management solutions company based in Avon, Ohio. Chemtron provides a single source for waste management services to customers including industrial manufacturers, healthcare facilities and

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KKSP Expands Multi-Turn Precision Industries in Mexico

As part of KKSP Precision Machining’s and the Multi-Turn Division’s continued mission to improve service and meet growing customer demand for localized sourcing, the company is more than doubling the size of its operation in Monterey, Mexico. KKSP is a CapitalWorks portfolio company. The new facility is more than 52,000 square feet in

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Lombardo Joins CapitalWorks

Matthew Lombardo has joined CapitalWorks as a senior associate with primary duties as a private equity analyst. His responsibilities include screening and analysis of acquisition opportunities, conducting due diligence and procuring deal financing. Additionally, he works with current portfolio companies to assist them with various projects as well as

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CapitalWorks Acquires National Banking Technology Services Company

Cleveland private equity firm CapitalWorks, LLC, announced today it has acquired majority ownership of privately-held banking technology services provider Bancsource, Inc. based in Republic, Missouri. Bancsource provides maintenance services and sales of cash cycle equipment including ATMs, smart safes, scanners and other equipment for financial institutions and retailers nationwide.

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Guadiosi Joins Capewell as Controller

Marc Gaudiosi has joined Capewell Holdings as controller, corporate services. Marc was previously controller at Shelterlogic Corp, Chromalloy Gas Turbine, The Stanley Works and Danaher Corp. Marc brings a wealth of financial leadership experience in manufacturing, financial reporting and analysis, cost accounting and bank covenant compliance. He has significant

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Schweiger Joins Capewell as HR Manager

Tracy Schweiger has joined CapitalWorks portfolio company Capewell Holdings as human resource manager, corporate services. At Capewell, Tracy’s responsibilities will include working with all managers and the corporate services team, managing relationships with outside human resources service providers and coordinating policies and procedures. In her previous job at Beazley

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CapitalWorks Successfully Completes Two Portfolio Company Dividend Recapitalizations

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

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Capewell Systems Acquires Aerial Machine and Tool

(SOUTH WINDSOR, CT) Capewell Systems has acquired Aerial Machine and Tool Corporation, a manufacturer of aviation, safety and tactical gear for military, law enforcement and commercial customers worldwide. Terms of the purchase from Aqua Lung Corporation of San Diego, California, were not disclosed. Owned by private equity firm CapitalWorks,

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