High Street Capital Exits Koontz-Wagner

Global Power Equipment Group has acquired Koontz-Wagner Custom Controls Holdings, a portfolio company of High Street Capital. Livingstone acted as the exclusive financial advisor to Koontz-Wagner and High Street.


Livingstone, the leading independent, international investment banking firm, is pleased to announce that Global Power Equipment Group, Inc. (“Global Power”) (NASDAQ: GLPW) has acquired Koontz-Wagner Custom Controls Holdings LLC (“Koontz-Wagner” or the “Company”), a portfolio company of High Street Capital (“High Street”). Global Power will fund the entire $31.5 million purchase price from available cash on hand. Livingstone acted as the exclusive financial advisor to Koontz-Wagner and High Street.

Headquartered in South Bend, Indiana, Koontz-Wagner is a leading manufacturer and integrator of engineered packaged control house solutions for the energy, oil & gas and electrical industries. The addition of Koontz-Wagner’s engineered packaged control house solutions will expand Global Power’s products portfolio, and supports the global expansion into adjacent infrastructure products and services. In 2011, Koontz-Wagner had revenue of $34 million.

“Koontz-Wagner is a terrific fit for the Global Power business,” said Luis Manuel Ramírez, President and Chief Executive Officer of Global Power. “Koontz-Wagner complements our current customer offering, as well as expands our reach in the rapidly expanding energy segments. It also represents a significant step forward in realizing our strategic goal to establish Global Power as a leader in the design and manufacture of natural gas turbine auxiliary equipment. With this first important step, we are well-positioned to continue to invest in growth through acquisitions and global expansion.”

“Koontz-Wagner has established a superior reputation manufacturing highly engineered packaged control house solutions, and provides a strategic product line addition to Global Power,” commented Koontz-Wagner CEO Mike Pound. “Livingstone’s guidance and deal expertise throughout the acquisition process was critical to the successful closing of the transaction.”

“We’re proud to have advised Koontz-Wagner and High Street on a successful sale transaction,” said Livingstone Vice President Karl Freimuth. “Livingstone’s Industrial team facilitated a competitive global auction process, and we are pleased to have found the ideal long-term partner for Koontz-Wagner in Global Power.”

Global Power is another in a long line of global strategic counterparties to recent Livingstone transactions, which includes TE Connectivity, Chart Industries, ITT, Hubbell, Middleby Corp., Mattel, and Anheuser-Busch InBev.


About Global Power
Texas-based Global Power Equipment Group Inc. is a design, engineering and manufacturing firm providing a broad array of equipment and services to the global power infrastructure, energy and process industries. Through its Services Division, the Company provides on-site specialty support and outage management services for commercial nuclear reactors in the United States and maintenance services to fossil and hydroelectric power plants and other industrial operations. Through its Products Division, the Company designs, engineers and manufactures a comprehensive portfolio of equipment for gas turbine power plants and power-related equipment for industrial operations, with over 40 years of power generation industry experience. With a strong competitive position in its product lines, the Company benefits from a large installed base of equipment in domestic and international markets.