GROWTH CAPITAL PARTNERS, L.P.
ANNOUNCES THE RECAPITALIZATION OF NEWCO VALVES,
L.P. (DBA NEWMANS)
Houston, TX (February 2008) – Growth Capital
Partners, L.P. (“GCP”), a Houston-based
investment and merchant banking firm, today announced
that NEWCO Valves, L.P. (“Newmans”)
has completed a recapitalization led by Argonaut
Private Equity with a co-investment by BOKF Capital
Services Corp. This transaction adds to GCP’s
resume of industrial and plant services advisory
work and demonstrates GCP’s continued focus
on the private equity marketplace for middle-market
companies. GCP served as exclusive financial advisor
to Newmans and the terms of the transaction were
undisclosed.
“We are extremely pleased to have had
the opportunity to work with the shareholders
and management of Newmans to effectuate a recapitalization
that met the goals of each,” commented
John Grimes, Managing Director of GCP’s
Dallas office. “By
partnering with Argonaut, Newmans has access
to a deep and patient pool of capital, and an
investor who shares the enthusiasm for the Company’s
long-term growth opportunities.” Newmans’ goal
is to extend its leadership position in the valve
industry by supplementing its strong internal
growth with targeted strategic acquisitions.
About
NEWCO Valves, L.P. (Newmans)
Newmans (www.newcovalves.com), headquartered
in Houston, Texas, is a leading manufacturer
of commodity and specialty valves under its NEWCO®,
OIC® and
COOPER® brand names. Newmans also serves
as an integrator of specialty valves for the
OEM market under its MAJOR® brand and provides
valve actuation and modification services through
its Precision Actuation Systems business unit.
About Argonaut Private Equity
Argonaut Private
Equity is a diversified global private equity
fund located in Tulsa, Oklahoma. With more than
$2 billion under management provided by George
B. Kaiser, Argonaut is uniquely positioned to
assist entrepreneurial companies.
About Growth Capital Partners, L.P.
Founded in 1992, GCP (www.growth-capital.com)
is an investment and merchant banking firm that
provides financial advisory services to both
private and public middle-market companies, with
a specialty practice devoted specifically to
the industrial services industry. GCP also focuses
extensively on the private equity marketplace.
Since its inception, GCP has completed in excess
of 250 transactions, raised more than $1 billion
of institutional capital (through private placements
of equity, subordinated, and senior debt), and
completed M&A transactions
with an aggregate value in excess of $3 billion.
For additional information, please contact:
Growth Capital Partners, L.P.
John E. Grimes
214-303-1177
jgrimes@growth-capital.com
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