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Balmoral Funds Announces Acquisition of Simclar’s North American Electronics Manufacturing Assets

NEW EXECUTIVES INSTALLED AT THE REBRANDED COMPANY, CONCURRENT MANUFACTURING SOLUTIONS

Hialeah, FL – October 19, 2012Balmoral Funds is pleased to announce that it has acquired the assets of Simclar, Inc. in Hialeah, Florida; Ozark, Missouri; and Matamoros, Mexico.  Going forward, the new company will be known as Concurrent Manufacturing Solutions LLC.  Balmoral plans to invest in capital equipment, facility improvements, process improvements and working capital, among other areas, in order to improve and grow Concurrent’s business.

Mr. Benjamin Teno will serve as Concurrent’s CEO.  Mr. Edwin Negrón-Carballo will serve as CFO and Mr. Nathan Whipple will serve as Vice President of Sales and Marketing.  All are experienced executives with strong backgrounds in multi-site manufacturing and turnarounds.  Concurrent will locate its business headquarters in Hialeah, FL and operate facilities at the present locations of the acquired assets in Florida, Missouri, Texas and Matamoros, Mexico.

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Balmoral Funds Raises $110 Million Private Equity Fund Continues Strategy of Investing in Middle-Market Businesses in Transition

Balmoral Funds LLC, (www.balmoralfunds.com) a Los Angeles, CA-based private equity firm and registered investment advisory firm, announced the final closing of its second fund totaling $110 million.  The firm will continue to invest in middle-market businesses in transition and special situations in the form of acquisitions, recapitalizations, corporate divestitures, and equity infusions.

Led by Jonathan and Skip Victor, along with Robin Nourmand, Travis Haynes and David Shainberg, the firm has a strong track record identifying businesses in financial or operational distress or facing complex challenges, and improving operating earnings, resulting in significant returns to shareholders.  The principals have experience across a variety of industries and sectors including manufacturing, value added distribution, retail, consumer products and business services.

Balmoral targets investments between $5 million and $25 million in companies that have historically generated $30 million to $300 million of revenues at their peak.

Garrison Securities, LLC, led by Rafael Astruc, partnered with Balmoral to diversify its investor base with leading endowments and foundations such as The Getty Trust and the John D., Catherine T. MacArthur Foundation and other leading institutions.

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Travis Haynes has Joined the Balmoral Team

Los Angeles, CA – October 2012 – Balmoral Funds LLC, a private equity firm focused on investments in special situations, today announced that Travis Haynes has joined the firm. In this position, he will lead the origination of new investments, as well as assist in the review, analysis and execution of transactions.

Mr. Haynes has more than a decade of private equity investment experience. Prior to joining Balmoral Funds, Travis spent more than 13 years with Platinum Equity, where he was a member of the firm’s business development and M&A teams. In his time at Platinum, Mr. Haynes sourced and pursued new platform acquisitions in the US and throughout Europe. He has extensive experience in review and analysis as well as governance of the investment approach and process.

Dispatch Transportation Acquires the Assets of Valley Aggregate Transportation Marking Aggressive Expansion into the Northern California Market

Tuesday, 15 May 2012
Dispatch Transportation (“Dispatch”) announced it acquired the construction-materials-hauling assets of Valley Aggregate Transportation (“Valley”) on April 30, 2012. The acquisition signals the Dispatch’s expansion into the Northern California market. Financial terms were not disclosed.Dispatch has long been one of the largest dirt and aggregate haulers in Southern California and Southern Nevada. Its new subsidiary will operate under the banner “Dispatch North.” Valley, a perennially significant dirt and aggregate hauler in Northern California, had recently decided to terminate its workforce and sell its assets in order to pay off insider debt-holders.Dispatch CEO Bruce Degler saw the transaction as a win-win for both Dispatch and Valley, “It has allowed us to transform what would have been the shutdown of an important regional company into a turnkey operation. We are grateful that drivers and customers have responded in short order. We are happy to have addressed Valley’s creditor issues while expanding Dispatch’s reach across California.”Dispatch COO Brent Lauer added, “This acquisition was a logical and strategic step for Dispatch as we seek to nurture relationships with existing contractors, propagate new ones and grow into a resurging backlog of private-construction and public-works projects across California. We anticipate solid growth in this market. For example, we intend to be part of the region’s solution to its levee and infrastructure issues. Thanks to the significant number of trucks, trailers and operating facilities we acquired and the key individuals we have recruited to join us, in just our first days operating Dispatch North we have already confirmed and begun executing on a sizeable backlog of business.”

Kevin Cotter, formerly of Valley and now General Manager of Dispatch North, expressed gratitude: “Dispatch recruited a core of dedicated former Valley employees and is now poised to grow in the region. Herb Culver and I are enthusiastic about continuing a 70-year-old legacy in Northern California. We are thrilled for Dispatch’s vote of confidence as we benefit from one of the strongest balance sheets and franchises in the state in order to serve long-standing customers in the region.” Cotter estimates that because of the transaction, 80 local drivers and supporting shop and administrative staff who would have faced unemployment in the event of a wind-down by Valley or were otherwise unemployed are now gainfully employed. “This is a source of pride in the region. And offering contractors a reliable logistics partner is critical. The best part is that we have made significant progress on our goals in just our first week of operations,” Cotter concluded, specifically thanking members of the Dispatch and Balmoral teams.

Dispatch VP of Transportation, Wayne Teece, who led the integration team, found the work ethic, culture and professionalism of the Dispatch North team very similar to its new parent’s. “Kevin Cotter and Herb Culver are experienced and professional operators. They played a large role is making the acquisition and integration seamless. We all learned something through the process and now, as one team, we intend to achieve great success for our investors and our communities.”

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EnPro Industries Acquires Tara Technologies, Creates Business Unit Dedicated to High Performance Products

CHARLOTTE, N.C., Aug. 1, 2011 /PRNewswire/ — EnPro Industries, Inc. (NYSE: NPO), a leading manufacturer of engineered industrial products, today announced it has acquired Tara Technologies Corporation, a privately-held company that offers highly engineered products and solutions to the semiconductor, aerospace, energy and medical markets. Terms of the transaction, which was completed for cash, were not disclosed.

Tara will combine with EnPro’s High Performance Seals (HPS) group to create a new EnPro business that will go to market as the Technetics Group. The group unites several highly-regarded EnPro companies with common visions, common markets and complementary products. The newly-formed unit brings expanded engineering capabilities to EnPro’s sealing products businesses and enlarges the corporation’s global manufacturing capacity. The Technetics Group will be included in EnPro’s Sealing Products segment.

“This acquisition provides an exciting opportunity for EnPro,” said Steve Macadam, president and chief executive officer. “It leverages Tara’s capabilities in assemblies, systems integration, and surface technologies with the HPS group’s experience in precision components to provide industry-leading expertise in high-performance sealing applications. The addition of Tara also brings a highly-skilled technical workforce to EnPro and will allow us to accelerate our growth in key markets.

“The Technetics Group creates a valuable platform for growth,” Macadam continued. “Tara has highly desirable engineering and product development capabilities that complement our capabilities as a solution provider for high performance applications. We are very pleased with this opportunity and we warmly welcome Tara employees to the EnPro family.”

Colm Lanigan, chief executive officer of Tara Technologies and managing partner of Tara Capital said, “Tara Technologies has a 50 year record of providing world class products to its customers.  While we have expanded significantly in the past five years, we realized a larger platform would enable us to best serve our customers.  We believe EnPro’s model provides the scale and resources to drive further success.  EnPro and Tara share a similar focus on product excellence and the customer, making EnPro an excellent partner for the future of Tara and its employees.”

Tara Technologies, headquartered in Daytona Beach, Florida with facilities in San Carlos, California and Singapore, employs approximately 170 people.  Tara Technologies was owned by an affiliate of lead investor Tara Capital Inc. and Balmoral Fund I, L.P.

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Balmoral Sells Interstate SouthWest LTD to the Ellwood Group

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Balmoral Acquires Custom Forging Division from Citation Corp.

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Balmoral, Tara Capital and key members of mgmt. closed on the acquisition of a semiconductor components business.

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