Koontz-Wagner Completes Sale of South Bend Controls

Koontz-Wagner, a South Bend, Indiana-based seller of electrical control systems for power generation for its aerospace, medical, and defense customers, has sold its subsidiary South Bend Controls for $10 million to publicly traded component manufacturer Curtiss-Wright. South Bend Controls makes solenoid-basec components used in aerospace, defense, industrial, and medical markets. Koontz-Wagner is a portfolio company of High Street Capital, a lower middle-market buyout firm that acquired it in 2008.

PRESS RELEASE:

South Bend, IN, October 11, 2011   Koontz-Wagner is pleased to announce the sale of its subsidiary, South Bend Controls (www.sbcontrols.com), to Curtiss-Wright Corporation (NYSE: CW). South Bend Controls is a leading designer and manufacturer of highly engineered, solenoid-based components used in critical applications serving the aerospace and defense, industrial and medical markets. The business will operate within Curtiss-Wright’s Motion Control segment.
“The acquisition of South Bend Controls by Curtiss-Wright validates the company’s unique strength in highly engineered valves and regulators and brings together two companies with outstanding histories in the aerospace industry” said Michael F. Pound, CEO of Koontz Wagner Holdings. “I want to thank Peter Hutchings, the General Manger of South Bend Controls, and his excellent team for their many years of service to Koontz-Wagner.”
Koontz-Wagner Holdings, acquired by High Street Capital in 2008, provides electrical control systems for power generation, infrastructure and oil/gas distribution, maintains and services electric motors, offers full-service electrical contracting and manufactures components for aerospace, medical and defense customers. Koontz-Wagner was advised by Colonnade Securities LLC in connection with this transaction.
About High Street Capital
High Street Capital is an experienced, operationally-oriented lower middle market buyout firm. The firm looks to acquire, recapitalize, and provide growth capital to outsourced business services, niche manufacturing and value-added distribution & logistics companies in the Central U.S. with revenues of $10 to $100 million. High Street is actively seeking new investment opportunities for its fourth investment fund. Please see www.HighStreetCapital.com for more information.