EN Engineering, a portfolio company of Clearview Capital, has acquired Wheatland Systems Inc., a Lawrence, Kansas-based provider of services to the power and utility industries. No financial terms were disclosed.
Clearview Capital, LLC of Old Greenwich, CT has completed the acquisition of Wheatland Systems, Inc. of Lawrence, Kansas as an add-on transaction to its portfolio company, EN Engineering, LLC. The transaction closed on May 14, 2010.
EN Engineering, LLC is a leading provider of professional engineering and consulting services headquartered in Woodridge (Chicago), Illinois. ENE is presently comprised of four business units: (1) Transmission, which offers a full breadth of engineering services to the natural gas and petroleum pipeline industries; (2) Distribution, which provides similar services to the natural gas utility market; (3) Automation & Electrical Design, which designs and commissions automation and electrical systems for natural gas infrastructure; and, (4) Technology, which provides pipeline integrity, corrosion control, metallurgy and related consulting services to the energy and water industries.
Wheatland specializes in automation systems development and integration for the oil and gas, power generation, water and food processing industries. Wheatland will operate as another ENE business unit and work closely with the Automation & Electrical Design group. David Miles, Wheatland’s founder, will continue to oversee Wheatland’s operations and has re-invested a portion of his proceeds into the equity of the combined companies, obtaining an equity stake similar to that of other key ENE management.
“We are very excited to bring David and his team on board,” said Joe Posewick, CEO of ENE. “Wheatland’s capabilities and end markets are highly complementary with those of ENE’s. This acquisition allows us to offer a comprehensive range of automation services with deeper and broader resources, and provides very attractive cross-selling opportunities for us to pursue together.”
“This is ENE’s first add-on acquisition since we partnered with its management team to acquire the company from its prior owners last year,” said James Andersen, co-founder and co-Managing Partner of Clearview Capital. “We intend to pursue add-on acquisition opportunities aggressively for all of ENE’s business units, and believe there are many complementary businesses out there that could further enhance the company’s service offering.”
Clearview’s holdings include All Tech Inspection/IESCO, a provider of mechanical integrity inspection and non-destructive testing services for the refinery and petrochemical industries; ACE (Air Cooled Exchangers), a leading manufacturer of air-cooled heat exchangers; Hettinger, a provider of pipeline and facilities construction and maintenance services for customers building energy infrastructure; Rowmark, a manufacturer and marketer of specialty plastic sheet and related products for the awards/recognition, engraving and signage markets; Senior Care Centers of America, an operator of adult day care centers; M.H. Zeigler & Sons, the country’s leading manufacturer of refrigerated apple cider; Hillsdale Furniture, a designer and importer of wood and metal furniture; and a minority interest in Compression Polymers Group, the leading extruder of thick gauge polyolefin and PVC sheet, including AZEK® brand trim boards.
Clearview Capital, LLC is a private investment firm specializing in the acquisition and recapitalization of North American companies with operating profits of $4-20 million. The firm’s principals have a long and successful track record of completing transactions and of working collaboratively with management to create and realize value. Clearview has in excess of $250 million under management and is currently making investments through its committed fund, Clearview Capital Fund II, LP.