MPE Partners recaps MSHS Group

MPE Partners has recapitalized MSHS Group, a third-party maintenance, repair, and overhaul services provider for marine and power generation applications.

MPE Partners has recapitalized Fort Lauderdale, Florida-based MSHS Group, a third-party maintenance, repair, and overhaul services provider for marine and power generation applications. No financial terms were disclosed. BakerHostetler served as legal advisor to MPE on the transaction. Cross Keys Capital acted as the investment banking advisor to MSHS Group while Silverman Schermer served as legal advisor.

PRESS RELEASE

CLEVELAND and BOSTON, Feb. 22, 2021 /PRNewswire/ — MPE Partners (“MPE” or “Morgenthaler Private Equity”) announced today the recapitalization of MSHS Group (the “Company”), a leading independent, third-party maintenance, repair, and overhaul (“MRO”) services provider for marine and power generation applications. The Company’s two primary business units, MSHS, which specializes in reciprocating engine services and repairs, and GCS, which specializes in control systems integration, automation, and monitoring solutions, together provide mission-critical solutions for customers across a diverse array of industries.

MPE partnered in the transaction with majority owner Are Friesecke as well as several members of the senior management team, led by President and CEO, David A. Santamaria. Matt Yohe, Partner at MPE, said, “Since its founding over 35 years ago, MSHS Group has developed a reputation for superior quality, technical expertise, and unmatched customer service, and has grown into a leading service provider in the industry.” Michael Duffy, Vice President at MPE, said, “We look forward to partnering with Are, David, and the rest of the MSHS Group team to build upon the Company’s sterling industry reputation and to accelerate its growth initiatives while maintaining the strong culture and commitment to its customers that has made MSHS Group so successful to date.”

Are Friesecke added, “MPE’s history of investing in industrial services businesses and partnering with entrepreneurs made them a natural fit for MSHS Group. We are excited to begin the next phase of our growth and look forward to collaborating with MPE to pursue new strategic opportunities.” David A. Santamaria added, “We are confident that with MPE’s support we can increase the breadth of our technical capabilities and continue to provide best-in-class services to our customers.”
BakerHostetler served as legal advisor to MPE. Cross Keys Capital acted as the investment banking advisor to MSHS Group and Silverman Schermer served as legal advisor.

About MSHS Group
Headquartered in Fort Lauderdale, FL with additional locations throughout the Americas, MSHS Group is a leading independent, third-party MRO services provider for marine and power generation applications. For more information, please visit www.mshsgroup.com.

About MPE Partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.