HKW’s OakRiver sold to MML Capital’s PaR Systems

Hammond, Kennedy, Whitney & Company, a private equity firm with offices in Indianapolis and New York has sold OakRiver Technology, a manufacturer of high precision automation equipment to the medical device industry. PaR Systems, a designer and manufacturer of robust automation solutions equipment for demanding industry requirements has acquired the business. PaR Systems is a portfolio company of London-based MML Capital Partners.

PRESS RELEASE

Greene Holcomb & Fisher (“GH&F”) is pleased to announce the successful sale of OakRiver Technology, Inc. (“OakRiver”), an industry leader in the manufacturing of high precision automation equipment to the medical device industry. OakRiver was a portfolio company of Hammond, Kennedy, Whitney & Company, Inc. (“HKW”), a private equity firm with offices in Indianapolis and New York.

The acquirer is PaR Systems, Inc. (“PaR Systems”), a designer and manufacturer of robust automation solutions equipment for demanding industry requirements. OakRiver will serve as a platform to lead PaR Systems’ expansion in the life sciences market. PaR Systems is a portfolio company of London-based MML Capital Partners.

GH&F Managing Director, Ken Higgins, stated, “OakRiver is an extremely well-run company with an outstanding management team and track record of delivering high quality engineered products to its customers. We worked together with the management team and HKW to find a strong partner for the business in PaR Systems.”

About OakRiver Technology

OakRiver is a manufacturer of high precision automation equipment for medical device and other high-tech industrial customers. The company offers design-build and build-to-print process automation equipment, engineering support and services, OEM product assembly and integration services and medical coating equipment.

About PaR Systems

PaR Systems provides specialized material handling and automation equipment and systems to a number of industries and end markets nationwide. PaR Systems’ core capabilities include the engineering and design of cranes, lab automation equipment and robotic handlers, serving end markets including aerospace and defense, mining, construction, consumer products, pharmaceuticals and medical device manufacturing.

About Hammond, Kennedy, Whitney & Company

HKW is a private equity firm founded in 1903 with offices in Indianapolis and New York. Over the past 29 years, HKW has sponsored 40 platform management buyouts of small middle-market companies throughout North America as well as 43 add-on acquisitions.

________________________________________
About Greene Holcomb & Fisher LLC

Greene Holcomb & Fisher, with offices in Minneapolis, Phoenix, Seattle and Atlanta, is an investment banking firm that specializes in mergers and acquisitions, private placements and financial advisory services for the middle market. At GH&F, we blend our experience from nationally prominent investment banks, New York Stock Exchange-listed companies and leading law firms with senior-level attention and entrepreneurial ingenuity to deliver creative services to high quality companies.

We thank you for your continued support. To learn more about our practice, please visit our website at www.ghf.net or call us at 612-904-5700.