JWI Capital said Monday it has acquired a controlling stake in Weaver Express Blower Services. Financial terms weren’t disclosed. Sugarcreek, Ohio-based Weaver installs and makes compost-based filter socks and other compost-based products for erosion and sediment control applications. Aldine Capital Partners provided mezzanine capital and an equity co-investment to support the deal, as well as additional capital for expansion of the business.
JWI Capital, LLC (JWI), a Cleveland, Ohio based investment firm completed a controlling equity investment in Weaver Express Blower Services, LLC (“Weaver Express”). Weaver Express, based in Sugarcreek, OH, is the leading installer and manufacturer of compost-based filter socks and other compost-based products for erosion and sediment control applications.
Weaver’s compost-based filter sock products and services primarily focus on eliminating or minimizing sediment run-off from construction sites. Weaver also provides other environmental services such as stream bank restoration, and steep slope stabilization by utilizing “green” bio-engineered technology.
Weaver Express was founded in 2000 by Kevin and Keith Weaver, who have retained an ownership position in the business and will continue to work for the company on a full-time basis. Kevin Weaver stated, “The opportunity to partner with JWI is a very positive for both Weaver Express and our customers. JWI brings more than just capital to the table; they bring a wealth of knowledge with a hands-on operational approach, strategic leadership and financial support. JWI’s expertise will enable us to continue growing and expanding the business to serve our customers.”
Weaver Express is very active in the entire Marcellus and Utica shale areas, currently operating installation crews from two regional facilities – Sugarcreek, OH, and Burgettstown, PA, along with a distribution center in Lock Haven, PA. Weaver Express also manufactures and distributes pre-filled filter socks on pallets primarily in Pennsylvania, Ohio and West Virginia.
Marc Walinsky, Managing Director of JWI Capital stated, “We were attracted to Weaver Express, first and foremost, by its founders Kevin and Keith Weaver. Kevin and Keith have steadfastly built a great and rapidly growing business by being at the forefront of the filter sock industry by delivering excellent customer service and innovatively fulfilling customer requirements.”
Aldine Capital Partners, LP (“Aldine”), a Chicago-based mezzanine debt fund, provided mezzanine capital and an equity co-investment to support the investment and provide additional capital for expansion of the business.
Much of Weaver Express’ products are based on technology developed by Filtrexx International, LLC. Weaver Express has been a certified Filtrexx™ installer and manufacturer since 2000 and is the #1 Filtrexx™ team worldwide. In 2010 Weaver installed and manufactured over 150 miles of Filtersoxx™.