Deloitte Corporate Finance LLC Advises Precision Hydraulic Cylinders Inc. in its Sale to Owner Resource Group, LLC
Deloitte Corporate Finance LLC ("DCF") acted as financial advisor to Precision Hydraulic Cylinders Inc. ("PHC" or the "Company"), a Beulaville, North Carolina-based portfolio company of BB&T Capital Partners, Inc. ("BBTCP"), in its sale to Austin, Texas-based Owner Resource Group, LLC ("ORG"). PHC manufactures highly engineered, custom hydraulic cylinders for original equipment manufacturers ("OEMs") serving the material handling, transportation and construction sectors. PHC and BBTCP engaged DCF to facilitate generating liquidity for the Company's shareholders. The deal closed on May 30, 2014.
"Our team has worked diligently to establish PHC as a leading global platform for serving the unique needs of multinational OEMs. We are excited to partner with ORG for our next phase of growth," said Chris Barclay, president, chairman and chief executive officer of PHC.
"It has been a pleasure working with Chris Barclay and his management team on this transaction with Owner Resource Group. We were able to leverage our deep experience in the hydraulics industry to obtain an outcome with which our client is very pleased," said Eric Andreozzi, managing director, Deloitte Corporate Finance LLC, and head of DCF's Energy and Resources Group.
About Precision Hydraulic Cylinders Inc.
Founded in 1997 and headquartered in Beulaville, North Carolina, PHC is a leading manufacturer of custom hydraulic cylinders for mobile equipment applications. PHC offers cylinders and related components manufactured in the Company's facilities located in the United States, the United Kingdom and India. For more information, visit www.phc-global.com.
About BB&T Capital Partners, Inc.
BB&T Capital Partners focuses on the middle market, managing committed capital to support companies and financial sponsors. BBTCP makes direct equity investments as the lead investor, or co-investor with other private equity groups, in control transactions of privately-held companies and provides subordinated debt with equity co-investments in support of transactions led by financial sponsors and others. Since 1998, BBTCP has invested directly in over 55 privately-held, middle market companies in a variety of industries, providing patient capital to facilitate buyout, acquisition, growth, and recapitalization transactions. BBTCP’s investing strategy focuses on a partnership approach with a common goal of long-term value creation through the alignment of interests.
About Owner Resource Group, LLC
Owner Resource Group is an Austin, Texas-based private investment firm founded in 2008 to bring superior outcomes to privately held businesses. ORG makes investments that enable business owners and management teams to pursue their objectives and accelerate the growth of their company in a disciplined manner. ORG's philosophy is to align its interests with management to support the existing culture of the business and its continued growth.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Deloitte Corporate Finance LLC provides deal execution and lead financial advisory services to large corporate, middle market, and private equity firms. Deloitte Corporate Finance has access to the resources of the Corporate Finance Advisory practices of the member firms (and their affiliates) within the Deloitte Touche Tohmatsu Limited network of member firms. Together with Deloitte Corporate Finance LLC, these practices include in excess of 1,600 professionals, working collaboratively in 150 international locations. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.