24th Apr 2015 07:00
JZ CAPITAL PARTNERS LTD - Acquisition of Midwest Valve PartsJZ CAPITAL PARTNERS LTD - Acquisition of Midwest Valve Parts
PR Newswire
London, April 23
JZ CAPITAL PARTNERS ACQUIRES MIDWEST VALVE PARTS ~ New acquisition expands JZCP's Industrial Services Solutions segment ~ 24 April 2015 JZ Capital Partners Limited (LSE:JZCP.L or "JZCP"), the London listed privateequity fund that invests in high quality US and European microcap companies andUS real estate, has acquired Midwest Valve Parts ("MVP") alongside its long-terminvestment partner The Edgewater Funds. The acquisition of MVP is an add-on to Industrial Services Solutions' ("ISS")existing Specialty Products Group ("SPG"), and marks the third acquisition madeinto SPG (joining Worthington Compressors and Parts Service International). Ledby Jim Rogers, a GE veteran who has extensive industry experience, ISS isgenerating annual sales and EBITDA in excess of US$260 million and US$45million, respectively. MVP is an independent supplier of replacement parts for valves, actuators, andrelated equipment to valve remanufacturers, as well as direct to end users in avariety of markets, including: oilfield services, power generation, mining, andprocess industries such as refineries, chemical plants and pharmaceuticalcompanies. The acquisition of MVP was funded with US$3.8 million in third party debt and aUS$0.5 million subordinated seller note. JZCP owns approximately 34% of thecombined entity. David Zalaznick, JZCP's Founder and Investment Adviser, commented: "MVP is anexcellent addition to our Industrial Services platform. Together with themanagement team, we look forward to integrating MVPinto our Specialty ProductsGroup and helping to further grow this already strong asset." Ends For further information: Ed Berry / Kit Dunford +44 (0) 20 3727 1143FTI Consulting David Zalaznick +1 212 4859410Jordan/Zalaznick Advisers, Inc. Andrew Maiden +44 (0) 1481 745368JZ Capital Partners About JZCP JZCP is a London listed private equity fund which invests in high qualitymicrocap companies, real estate and other debt and equity opportunitiesglobally but with a particular focus on opportunities in the US and Europe. Itscorporate objective is to create a portfolio of investments providing asuperior overall return comprised of a current yield and significant capitalappreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers,Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They have workedtogether for 30 years and are supported by teams of investment professionals inNew York, Chicago, London and Madrid. JZAI's experts work with the existingmanagement of microcap companies to help build better businesses, create valueand deliver strong returns for investors. JZCP, with the advice of JZAI,targets predominantly private investments, seeking to back exceptionalmanagement teams to deliver on attractive investment propositions. For moreinformation please visit www.jzcp.com.
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