Charlotte, N.C.-based private equity investor Tillery Capital has recapitalized Venture Technology Groups Inc., a Michigan-based maker of specialty flow control products. Terms of the deal were not released. Tillery Capital said that the management is keeping a “significant ownership” in the company.
Tillery Capital, a private equity firm based in Charlotte, NC, announced that it has completed a recapitalization of Venture Technology Groups, Inc., a Michigan based specialty flow control products distribution and engineering company. The management team is unchanged and is retaining a significant ownership stake in the company.
“We are very excited about our partnership with the owners and management team of Venture given their unique market position and exciting growth potential. The company is led by seasoned industry veterans, John Pace and Don Fichter. We are looking forward to providing the financial, operating and strategic resources to help Venture accelerate its growth,” said Chris Weidenhammer, Tillery Capital’s managing partner.
“Although middle market M&A deal activity so far this year is up versus last year, the amount of capital private equity firms have raised but have not yet invested stands at almost $480 billion,” said Jay Adler of Adler & Company. “There continues to be a lot of capital out there chasing a relatively small number of quality, niche middle market companies. This is clearly a good time to raise capital.”
The name of the recapitalized company is Tillery Venture, LLC. The deal was brokered by investment banking firm Adler & Company of Boulder, Colo. which specializes in identifying sellers of “lower middle market” companies for its private equity clients.