News

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 disclosed.

“CapitalWorks invested alongside senior management in KKSP in 2012, and over the past five-years has supported a number of key strategic investments which have enhanced its management team, successfully consolidated and upgraded its footprint of manufacturing operations in North America and Mexico, and implemented continuous improvement strategies to drive higher levels of quality and service.  Today KKSP is poised for continued growth both organically and through strategic acquisitions.” Said Dick Hollington, Managing Director of CapitalWorks, LLC.… Read this article

(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 are a large number of private business owners and executives of larger companies that have deep expertise in a wide array of industries. CapitalWorks taps into the knowledge base of its investors as they source, assess and ultimately govern their portfolio companies.

This fund will focus on acquiring control positions in lower middle market industrial businesses in the greater Midwest. Dick Hollington, Managing Director and CEO said, “Closing this latest fund enables the firm to continue to execute our long-term strategy of buying and improving lower middle market businesses.”… Read this article

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 files, plan the firm events and coordinate our marketing and communications efforts, all the while making everyone feel like part of the CapitalWorks family.

Brittany is going to work for Lumitex, Inc. in Strongsville and is excited about the next opportunity that will allow her to grow and further pursue her career goals.

While we search for a full-time replacement, Michelle Weidner will be stepping in as Executive Assistant/Office Manager.  Michelle is working closely with Brittany over the next few days for a smooth transition.… Read this article

CLEVELAND, OH – CapitalWorks, LLC is pleased to announce that J.D. Sullivan, Jr. has joined the firms Advisory Board and adds another key player to their network of industry experts. Mr. Sullivan is the CEO of MFH Partners, an investment holding company, and the Vice-Chairman and recently past CEO of North American Kitchen Solutions, Inc., a manufacturer of commercial kitchen ventilation and fire suppression systems. Mr. Sullivan was the past Chairman and CEO of Mayfran International, Inc., a provider of engineered industrial automation products and systems.

In 2004, Mr. Sullivan, with a group of investors, led the buyout of Mayfran from British concern Tompkins plc. (NYSE: TKS). The Company was sold in late 2012 to Osaka, Japan-based Tsubakimoto Chain Co. (TYO: 6371).

Mr. Sullivan has a wide array of management, operations and transactional experiences in his background.… Read this article

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 opportunities. We are excited about the surge of activity happening in downtown Cleveland and we want to be part of it.” Working with Vocon, the firm designed the new space which will create a more collaborative environment. “With the firm’s continued success and growth, it forced us to evaluate our space needs as well as the integration of new technology” said CFO, Mike Harding.

The new CapitalWorks address is 1100 SUPERIOR AVENUE, 17^TH FLOOR, SUITE 1725, CLEVELAND, OH.… Read this article

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 and maintaining relationships with investors and financial intermediaries, sourcing and executing transaction opportunities and stewarding portfolio company investments.

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Mikel B. Harding, CPA, Managing Director, CFO

Mr. Harding is responsible for the internal financial management of CapitalWorks including investor communications regarding fund performance and tax compliance. Additionally, he manages the financial oversight of the portfolio companies and assists with acquisition due diligence, entity structure and tax planning strategies.

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John P. Corrigan III, Vice President

Mr. Corrigan’s responsibilities primarily include all aspects of deal execution including acquisition searches, deal screening, due diligence and leveraged buyout financing. … Read this article

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.

CapitalWorks originally acquired Bluffton in 2006 and subsequently recapitalized it in 2010 and 2014. The original transaction was a corporate carve-out from Franklin Electric Corporation (NASDAQ: FELE).  “Recruiting an Advisory Board of industry veterans including alumni from Reliance Electric, Rockwell, RELTEC, LEESON and Lincoln Electric enabled CapitalWorks to recruit David Nussear as CEO, and set the strategy to more than double the size of the business,” said CapitalWorks Managing Partner and Chairman Rob McCreary. The firm supported a number of strategic investments including the acquisitions of Toledo Gear Motor in 2011, Electric Motors North in 2012 and RAE Corporation in 2013 as well as the greenfield launch of a motor designed to serve the pool market in 2014.… Read this article