Press Release Excerpt
We are pleased to announce that Brookwood Associates advised Precision Boilers, Inc. (“Precision” or the “Company”), a portfolio company of TVV Capital (“TVV”), on the sale of the Company to Source Capital, LLC (“Source”). Precision was an investment from TVV’s original fund, and TVV tasked Brookwood with finding a buyer that could understand the complex cash flows associated with Precision’s High Voltage Jet (“HVJ”) product, as well as the Company’s substantial international sales. Brookwood’s competitive marketing process highlighted Precision’s longstanding brand, leading market share, niche manufacturing focus, growing new business pipeline and potential as an acquisition platform in a highly fragmented industry.
The transaction yielded an attractive outcome for the shareholders and management, including a new sponsor partner interested in driving further growth. This transaction extends Brookwood’s strong track record in the manufacturing sector and represents the second time in 2010 that Brookwood has represented TVV in a portfolio company exit.