Heritage Capital Group an investment banking and financial advisory firm serving middle-market and emerging growth companies in the U.S. and worldwide, is pleased to announce that its client, Power & Pumps, Inc., has been acquired by Motion & Control Enterprises.
Power & Pumps is a leading distributor of power transmission products, pumps, electric motors and drives, and other related equipment from some of the industry’s top manufacturers, serving both the industrial and municipal water/waste water markets in Florida and Georgia. Headquartered in Jacksonville, Florida, P&P is also the master distributor in North America for All Prime Pumps, a line of self-priming pumps sold to municipal and industrial end-users and resellers. The Company also performs repairs and other value services for its customer base.
Founded in 1951, Motion & Control Enterprises is a leading supplier of technical fluid power, automation, flow control, compressed air and lubrication products, repair and services, and bespoke solutions. It serves more than 23,000 MRO and OEM customers from 38 facilities located in 13 states. MCE is majority-owned by Frontenac, a Chicago-based private equity firm that invests in middle market buyout transactions in consumer, industrial, and services markets.
“We are very excited to welcome the talented associates of Power & Pumps to the MCE family,” said Charles Hale, chairman and CEO of MCE. “This business will expand our geographic reach, deepen our offerings, and provide entry into the attractive fluid process market.”
“Going into this process, I had no idea how critical Heritage would be to making this deal happen and to my eventual bottom-line,” commented David Williams, former owner of P&P. “The Heritage team’s work ethic was undeniable and I felt like everything they did was in my best interest. After closing, the icing on the cake was when the buyer, who had completed 12 acquisitions in the 24 months prior, looked me in the eyes and said, ‘Heritage did an excellent job for you – it was a pleasure working with such consummate professionals.’ From the bottom of my heart, I want to thank Alex, Dan, and Heritage!”
Heritage served as the exclusive financial advisor and intermediary to Power & Pumps. Alex Kellison and Dan Edelman led the deal team.
The terms of the transaction were not disclosed. For more information about the transaction, click here.