Chicago-based private investment firm KCM Capital Partners LLC, an investor in lower middle-market business services, value-added distribution and specialty industrial companies, has completed its acquisition of Industrial Valve Sales & Services LLC, headquartered in Mobile, Alabama. The transaction was completed in partnership with company management, Pittsburgh’s PNC Mezzanine Capital and North Carolina’s Five Points Capital.
The terms of the transaction were not disclosed.
Founded in 1975, IVS is a provider of specialty valve services and products, including inspection and repair services, new valves and parts, and refurbished valves to hundreds of blue-chip customers across the Southeast.
Former company owners, Donald Williams and James Harrell Jr., built the business over nearly 45 years before deciding to sell to KCM in order to position the company for enhanced growth. Consistent with KCM’s investment philosophy, IVS will continue operations under its current name, and IVS President Bart Middleton, supported by a deep senior management team, will continue to oversee day-to-day operations of the business.
“KCM aims to build upon the company’s rich heritage by providing both strategic and financial resources to IVS management and employees in order to help accelerate growth and increase the company’s already diverse service and product offering to its customer base,” KCM Partner Derek Ferguson said, in a statement.
Hancock Capital Management provided senior debt financing in support of the transaction, while Katten Muchin Rosenman LLP served as legal counsel to KCM.
