BB&T Capital Partners has sold The Cline Company to Rexnord Corporation. The Cline Company, headquartered in Greenville, SC is a provider of aftermarket power transmission services to the pulp and paper, steel and other industries.
BB&T Capital Partners (“BBTCP”) is pleased to announce the successful divestiture of The Cline Company (“Cline”) to Rexnord Corporation (NYSE:RXN).
About The Cline Company:
The Cline Company, headquartered in Greenville, SC is a premium, high quality provider of aftermarket power transmission services to the pulp and paper, steel and other industries. Cline specializes in providing full-service power transmission solutions and has a high degree of technical expertise in advising clients in the inspection, repair, replacement or maintenance of mission critical components such as industrial drive shafts, clutches and brakes that are used in production equipment. Cline offers its customers a wide breadth of critical services, including inspection, repair, replacement and spare parts, as well as predictive and preventative maintenance and other on-site technical field services.
About Rexnord Corporation:
Rexnord Corporation is a leading worldwide industrial company comprised of two strategic platforms: Process & Motion Control and Water Management. Within its platforms, Rexnord serves a diverse array of growing, global end markets with the broadest, most reliable product portfolios and trusted brands in its industries, backed by thousands of associates that share a common goal: providing superior customer satisfaction. Cline will reside in Process & Motion Control where Rexnord designs, manufactures, markets and services specified, highly engineered mechanical components used within complex systems where its customers’ reliability requirements and the cost of failure or downtime is extremely high.
About BB&T Capital Partners
BB&T Capital Partners (www.bbtcp.com) manages committed capital across three fund strategies, all of which are focused on the middle market. The firm makes direct equity investments in control transactions of privately-held companies; provides subordinated debt or mezzanine capital in support of transactions led by financial sponsors and others; and invests in other private equity funds. Since 1998, BBTCP has invested in over 45 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 management with a common goal of long-term value creation.
For additional information on this transaction, please contact Brent Kulman at 336-733-0354 or BKulman@bbandt.com.
BB&T Capital Partners
101 N. Cherry St.
Winston-Salem, NC 27101-4019