Investment firm Azalea Capital has made an undisclosed investment in Turbine Generator Maintenance. Headquartered in Cape Coral, Florida, TGM is a provider of turbine and generator outage services.
January 28, 2014: Azalea Capital is pleased to announce The Azalea Fund III, L.P.’s recent investment in Turbine Generator Maintenance, Inc. (“TGM”). Headquartered in Cape Coral, FL, TGM performs turbine and generator outage services for industrial clients, independent power producers, and public utilities. Azalea partnered with TGM’s existing management to complete the investment.
“We have enjoyed getting to know the team at Azalea over the past few years,” said David Branton, TGM’s CEO. “Their knowledge of our industry and their commitment to invest in TGM’s growth were important factors in our decision to partner together. Azalea’s investment will enable TGM to expand our services offering and extend our international footprint. As a company, we remain steadfast in our mission to provide the right Processes, Planning, People, Attitude and Tools to insure we safely deliver industry leading service to our customers.”
About Turbine Generator Maintenance, Inc.
TGM is the premier, independent solution provider for steam and combustion turbine and generator inspection, testing, and repair. TGM is turnkey and project management based, focused on units operated by independent power producers, cogenerators, and other power producers that require the shortest outage durations to support availability requirements. TGM provides expert field service inspections, repairs, and operational support for steam and combustion turbine and generator sets throughout the Americas.
About Azalea Capital
Azalea Capital is an investment firm headquartered in Greenville, SC. Azalea invests equity capital in middle-market companies across the Southeast to facilitate management buyouts, business recapitalizations, and growth plans. Partnering with management teams in scalable, operating companies with established revenues and cash flows, Azalea provides both financial and human capital to significantly enhance the long-term equity value of the underlying business. Typical investment candidates have annual revenues of $10 million to $100 million in the focus industries of manufacturing, distribution, business services, consumer products, and healthcare.
For questions or more information about Azalea Capital, please visit our website at www.azaleacapital.com or contact Pat Duncan.