Recent News and Announcements from Centre Partners
New York, NY, July 22, 2011 – Centre Partners Management LLC (“Centre Partners”), a leading middle market private equity firm with offices in New York and Los Angeles, announced today the completion of the sale of Hyco International Inc. (“Hyco”) by certain of its affiliates to a subsidiary of Weber-Hydraulik GmbH (“Weber”). Terms of the transaction were not disclosed.
Hyco is a leading designer and manufacturer of highly engineered, custom designed hydraulic cylinders utilized by industrial equipment to provide essential functions such as lifting, steering, suspension, compaction, and stabilization. With manufacturing locations in Brazil, Germany, Canada, and the United States, Hyco supplies hydraulic cylinders to its blue chip customers around the world.
“We are delighted to complete the sale of Hyco to Weber and bring to a successful conclusion our investment in Hyco,” said Scott Perekslis, Senior Partner at Centre Partners. “Ron Whitaker and his team of veteran managers have done a superb job of managing the business through the recent volatility in the global markets and have positioned Hyco for continued growth in the coming years. The sale of Hyco to Weber will benefit Hyco’s customers, employees, and ownership. We anticipate that Weber’s resources, technology, and scale will augment the Hyco platform and foster Hyco’s continued growth. We are proud of Hyco’s achievements over the life of our investment and would like to thank Ron Whitaker and his team for their hard work and dedication to the business.”
Hyco Chief Executive Officer Ron Whitaker added: “We are excited to complete a transaction with the Weber organization and believe that Hyco’s ability to service our customers will be greatly enhanced as a result. Centre has supported our business through periods of great volatility, putting us in a position to generate the terrific outcome achieved today.”
Centre Partners and Hyco were advised by Lincoln International and Dechert.
About Centre Partners
Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire a meaningful economic stake in the future success of their businesses. Centre Partners has invested over $3 billion in more than 90 transactions, partnering with management teams across a broad spectrum of industries. Centre Partners provides those teams with access to its unique resources, which include an extended network of experienced and proven operating executives. The firm is currently investing through its fifth fund. Centre has deep investment expertise covering consumer, healthcare, industrial products and services, financial services, energy, media, and business services.