CONTACT:
Will Oberholtzer
High Street Capital
11 S. LaSalle, 5th Floor
Chicago, IL 60603
P: 312.423.2652
CHICAGO, IL, July 31, 2012 – High Street Capital is pleased to announce Koontz-Wagner has completed the previously announced sale of its subsidiary, Koontz-Wagner Custom Controls Holdings LLC (“Custom Controls”), to Global Power Equipment Group Inc. (NASDAQ: GLPW). Custom Controls is a leading manufacturer and integrator of engineered packaged control house solutions for the energy, oil & gas, and electrical industries
Headquartered in South Bend, Indiana, Custom Controls has delivered products and services to more than 1000 customer sites in over 35 countries. The Custom Controls acquisition will expand Global Power’s products portfolio to its current customers and supports global expansion into adjacent infrastructure products and services. Luis Manuel Ramírez, President and Chief Executive Officer of Global Power, commented, “We are acquiring a trusted brand, and a business team positioned well to deliver. Today’s announcement marks an opportunity for both our customers and employees.”
Koontz-Wagner Holdings (www.koontz-wagner.com), acquired by High Street Capital in 2008, provides electrical control systems for power generation, infrastructure and oil/gas distribution, maintains and services electric motors and offers electrical contracting and related services. Koontz-Wagner was advised by Livingstone Partners LLC in connection with this transaction.
About High Street Capital
High Street Capital is an experienced, operationally-oriented lower middle market buyout firm. The firm looks to acquire, recapitalize, and provide growth capital to outsourced business services, niche manufacturing and value-added distribution & logistics companies in the Central U.S. with revenues of $10 to $100 million. High Street is actively seeking new investment opportunities for its fourth investment fund. Please see www.HighStreetCapital.com for more information.