Promus Equity Partners Acquires QCC

Promus Equity Partners has acquired Illinois-based QCC. QCC was founded in 1951 by the late Richard C. Michalek and has remained in the ownership of his family until now. The business is a manufacturing services provider supporting companies such as Sauer-Danfoss, Parker Hannifin and Woodward.

PRESS RELEASE

Promus Equity Partners, LLC (“Promus”), headquartered in Chicago, IL, is pleased to announce the acquisition of QCC, LLC of Harwood Heights, Illinois. As part of the transaction, Quality Control Corp has been renamed QCC, LLC, and will continue to operate independently under the same leadership team.

QCC was founded in 1951 by the late Richard C. Michalek and has remained in the ownership of his family until now. QCC is a leading manufacturing services provider supporting market-leading companies such as Sauer-Danfoss, Parker Hannifin and Woodward, Inc. With its focus on precision machining and assembly, QCC allows original equipment manufacturers of hydraulics, fluid power and aerospace products to focus on their primary product lines and core competencies by outsourcing non-core or legacy-stage manufacturing and assembly requirements. QCC has proven their ability to manage complex manufacturing and supply chain logistics with exceptional quality, delivery and customer service.

Greg Willard, QCC’s President and CEO, said, “I am very proud of the 60-year legacy created by this family-owned business and what the team has accomplished at QCC over the years. Promus is an ideal partner for us as we enter this next stage in our development because they see the value in our top-notch team and can provide additional support for the accelerated growth we desire.”

Sarah Wuellner, a partner at Promus, said “We are thrilled to become partners with Greg Willard and the entire QCC team. Among the many notable attributes of the company, we are especially impressed with their strong customer relationships and the proven capabilities of the management team and workforce.”

This transaction marks the third investment by Promus Equity Partners in the past twelve months. “We are excited with the number of great opportunities we have seen and believe that this is an ideal time to be investing in the economic recovery” remarked Wuellner.

Grace Equity, an independent sponsor based in Chicago, partnered with Promus to complete the transaction. Aldine Capital and First Capital Partners provided mezzanine debt and participated in the equity investment. Cole Taylor provided a senior credit facility. Terms of the investment were not disclosed.

About Promus Equity Partners
Promus Equity Partners is a private equity investment firm affiliated with Promus Holdings, a multi-family asset management firm based in Chicago, Illinois with approximately $500 million under management among its affiliated entities. Promus targets healthy, lower-middle market companies with EBITDA of $10 million or less. Members of the Promus team are proven investors with wide-ranging experiences over numerous economic cycles in a variety of industries. As a family office with a flexible investment mandate, they think creatively and allow each opportunity to guide their investment structure and duration absent the constraints imposed by traditional private equity funds. Their success relies upon partnering with managers and business owners to collaboratively develop plans to accelerate growth and increase value. As a family of investors, they share a common vision to build a portfolio of outstanding businesses.
About QCC
QCC is a world-class manufacturing services provider specializing in the manufacture, assembly and testing of complete products and precision machined components, with particular expertise in valves, pumps, motors, mechanical seals and other fluid power products. With exceptional manufacturing processes and project management capabilities, QCC allows original equipment manufacturers (“OEMs”) to focus on their primary products and core competencies by handling non-core manufacturing and assembly requirements throughout any stage of their product’s lifecycle. QCC’s brands include Qualiseal Technology, Dukes Fluid Power and Webster.