Capital Partners Inc. has sponsored a recapitalization of AMES Inc., a Wilmington, N.C.-based provider of maintenance project and workforce management solutions to the U.S. commercial nuclear power industry. No financial terms were disclosed. Cobblestone Harris Williams advised AMES on the transaction.
Cobblestone | Harris Williams is pleased to announce the recapitalization of AMES Inc. with Capital Partners, Inc. and its fund, Capital Partners Private Equity Income Fund, L.P. Mr. Greg Cecchi will continue as AMES’ Chairman and Chief Executive Officer and remains a very significant shareholder. Cobblestone acted as the exclusive advisor to AMES. The transaction closed on October 6, 2009 and was led by Patrick Hanraty and Nathan Bouknight from the firm’s Philadelphia office.
AMES, Inc., based in Wilmington, North Carolina, is a leading provider of maintenance project and workforce management solutions to the U.S. commercial nuclear power industry. The Company specializes in valve and valve actuator maintenance and diagnostic testing as well as other highly skilled maintenance services. AMES provides nuclear power plant qualified personnel, including mechanics, electricians, instrumentation and controls (“I&C”) technicians, engineers, and consultants to meet the specialized maintenance and engineering needs of nuclear power plant operators.
“The entire AMES team has developed an industry leading maintenance and service platform well known for excellence in safety, quality of service, and reliability within the nuclear power industry. The AMES team’s deep understanding of the unique culture of the nuclear power industry and their leading ability to fulfill the demanding maintenance needs of the industry position the Company for great success. We’re excited that we were able to find the AMES management team a partner that shares their vision for growth and quality of service, and we look forward to watching AMES’ continued success,” said Patrick Hanraty, managing director at Cobblestone | Harris Williams.
The success of the AMES transaction highlights the strength of the entire Harris Williams & Co. platform. The Cobblestone | Harris Williams team collaborated with Harris Williams & Co.’s Energy & Power Group throughout the process, leveraging both the firm’s extensive energy services experience and lower middle market expertise to ensure tremendous results for AMES, Inc. Harris Williams & Co.’s Energy and Power Group serves a broad range of companies that provide products and services that support the efficiency and sustainability of the energy and power infrastructure.
Capital Partners is a private equity investment firm that invests in and supports small and midsized companies using its unique low-leverage investment model. The firm invests in North American companies with revenues between $20 million and $250 million and operating profits between $4 million and $25 million. Capital Partners, Inc. was founded in 1982 and is based in Greenwich, Connecticut.
Cobblestone | Harris Williams is a specialty group of Harris Williams & Co. Cobblestone provides trustworthy advice and superior execution on private company sales, corporate divestitures, acquisitions, recapitalizations, restructurings and complex valuations for lower middle market transactions. Cobblestone’s professionals have advised on M&A and financing transactions representing more than $4 billion in value since 1998, making it one of the nation’s most experienced and successful advisors dedicated solely to the lower-middle market.
Harris Williams & Co., a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is one of the largest mergers and acquisitions advisory firms in the country focused exclusively on the middle market. Harris Williams & Co. represents private equity groups as well as publicly and privately held companies worldwide.
Harris Williams & Co. and Cobblestone | Harris Williams are trade names under which Harris Williams LLC conducts its business. Harris Williams LLC is a registered broker-dealer and member FINRA/SIPC.