Stanwich Partners

Stanwich Partners is pleased to announce Solesbee’s Equipment & Attachments, LLC (“Solesbee’s”), a leading manufacturer of attachments for heavy equipment in a variety of markets, has been sold to Lifco AB (OMX: LIFCO B), a publicly listed company based in Sweden. Genesis Capital of Atlanta GA provided advisory services for the transaction.

Based in Winston, GA, Solesbee’s is an industry-leading manufacturer of attachments for excavators, skid steers, front-end loaders, bull dozers and other equipment. The industry’s most demanding users have relied on Solesbee’s premium attachments since 1997. The Company’s employees are proud of Solesbee’s reputation for quality and durability and are excited to join the Business Area Demolition & Tools division of Lifco to further develop Solesbee’s expertise in design, engineering and manufacturing.

David Jenkins, President of Solesbee’s, said “We are looking forward to our exciting future with Lifco and are confident we achieved a most favorable outcome for our company and its shareholders”. Tom Herrmann and Stephen Boeschenstein, principal owners and members of the Board of Directors, also commented, “We are proud of our work with the Company and pleased to know that its future remains bright. Genesis Capital was instrumental in achieving such a positive outcome for the Company and we are tremendously grateful to the entire team.”

About Solesbee’s Equipment & Attachments, LLC.
Solesbee’s Equipment & Attachments, LLC is a full-service heavy equipment attachment manufacturer located near Atlanta in Winston, GA. In business since 1993, Solesbee’s offers attachments for every major brand of heavy equipment. We also offer custom attachments. Our attachments are guaranteed to improve your heavy equipment productivity. Solesbee’s offers a wide range of heavy equipment attachments for forklifts, bulldozers, front-end and back-end loaders, excavators, and tractors. Our attachments are job-site ready, and designed to maximize your productivity and profits.

Winston, GA – January 6, 2014.  Solesbee’s Equipment & Attachments, LLC (Solesbee’s) announced today that it has moved from its former manufacturing plant in Douglasville, GA to a new facility in Winston, GA.  The new facility should enable Solesbee’s to roughly triple its manufacturing capacity.

Solesbee’s is a leading designer and manufacturer of attachments for a variety of heavy construction equipment and material handling equipment. David Jenkins, President of Solesbee’s, said “This move has been long awaited and will provide us with the opportunity to significantly increase our production and increase material handling efficiencies.  We have been steadily increasing our capacity to accommodate growing demand for our attachments, and we hope our new plant will enable us to expand our business and grow employment further in the coming months and years.”  For more information on Solesbee’s please visit: www.solesbeesequipment.com.

Solesbee’s is owned by an investor group sponsored by Stanwich Partners, LLC (Stanwich), a Wilton, CT based private equity firm.  Stephen Boeschenstein, a Managing Director of Stanwich, noted that “Since acquiring Solesbee’s in 2004, it has been our intention to upgrade its manufacturing facility. We delayed executing this plan due to the economic downturn in recent years, but we now feel conditions warrant the move.  Solebee’s business has been growing meaningfully in recent years, and our greatest obstacle has been constrained manufacturing capacity.  We expect the new manufacturing facility to unleash significant growth potential.”

Stanwich Partners LLC is a private equity investment company specializing in the acquisition of established and profitable, small to middle-market manufacturing, service, and value-added distribution companies. Stanwich frequently acquire stakes in companies with a long history of family ownership and corporate divestitures.  For more information, go to www.stanwichpartners.com.

Lowellville, OH – May 15, 2013.  ARS Recycling Systems, LLC (ARS) announced the hiring today of Mark Stewart as Vice President of Manufacturing Operations and Edward Wilson as Controller.  Mr. Stewart joins the company from Water Star, Inc. where he was General Manager of their Newbury, OH manufacturing plant.  Mr. Wilson joins the company from Werner Co., the world’s leading producer of ladders, where he served as Operations Controller.

ARS was recently acquired by an investor group sponsored by Stanwich Partners, LLC and Wisdom Capital, LLC, private equity firms based in Wilton, CT and White Plains, NY respectively.

Tom Herrmann, a Managing Director of Stanwich Partners and interim CEO of ARS, stated that “We are very pleased to have succeeded in hiring two professionals of the high caliber of Mr. Stewart and Mr. Wilson.  We expect them to be instrumental in our efforts to significantly expand and grow ARS.”

ARS offers a proprietary line of products including steel grit recyclers and dust collectors for the bridge painting, municipal water tank, shipbuilding and industrial market segments. ARS’ products offer a strong value proposition to contractors who benefit from substantial cost savings in the form of lower transportation and landfill fees and from enhanced quality and efficiencies in surface preparation. See the company’s website at www.arsrecycling.com for further information.

Wilton, CT – December 31, 2012. Stanwich Partners, LLC (“Stanwich”) today announced that it had partnered with Wisdom Capital Partners, LLC (“Wisdom”) and Ironwood Capital to acquire privately-held Advanced Recycling Systems, Inc. (“ARS”) of Lowellville, Ohio.  Founded in 1991, ARS is an industry leader in the design and manufacture of patented equipment utilized in the collection, recycling and removal of dust and debris generated in industrial environments.

ARS offers a proprietary line of products including steel grit recyclers and dust collectors for the bridge painting, municipal water tank, shipbuilding and industrial market segments. ARS’ products offer a strong value proposition to contractors who benefit from substantial cost savings in the form of lower transportation and landfill fees and from enhanced quality and efficiencies in surface preparation. See the company’s website at www.arsrecycling.com for further information.

“ARS is well positioned for future growth as an aging infrastructure in the U.S. continues to require significant investment and attention. There is also a growing need for environmentally-friendly industrial solutions. ARS is poised to benefit from both drivers of demand, and we are delighted by this acquisition,” stated Stephen Boeschenstein, Managing Director of Stanwich Partners, LLC.

Tom Herrmann, another Managing Director of Stanwich, will serve as interim CEO of ARS following the acquisition. Mr. Herrmann noted that “We were attracted by ARS’ reputation and the quality of its products, which are second to none in its industry.  We believe the company’s prospects are excellent as ARS continues to gain share in its existing markets and enter new industrial markets where there is a need for recycling solutions.”

Gus Lyras, a founder and shareholder of ARS, stated that “The shareholders of ARS were pleased to enter into this transaction which, among other things, provides the company with the resources and expertise to take advantage of growth opportunities that we couldn’t exploit on our own. We are all looking forward to taking the company to the next level and see a bright future ahead for ARS.”

The company will continue to operate under the same name in its current facility in Lowellville and expects to retain all of its employees, including senior management, following the transaction.

Ironwood Capital provided financing for the transaction in the form of senior subordinated debt and equity. “We were pleased to partner with Stanwich and Wisdom to complete the ARS transaction and are excited about the prospects for ARS,” stated Dickson Suit, partner at Ironwood Capital.

Comerica Bank provided senior debt financing for the transaction.

About Stanwich Partners, LLC

Stanwich Partners LLC is a private equity investment company specializing in the acquisition of established and profitable, small to middle-market manufacturing and value-added distribution companies. Stanwich frequently acquire stakes in companies with a long history of family ownership and corporate divestitures.  For more information, go to www.stanwichpartners.com

About Wisdom Capital Partners, LLC

Wisdom Capital Partners is a private investment firm focused on middle market companies with solid growth potential. It offers access to capital and strategic advice. It will invest in growth, buyout and distressed opportunities, using a range of debt and equity instruments with an emphasis on long-term ownership, partnership and capital appreciation for all stakeholders. For more information, go to www.wisdomcapitalpartners.com

About Ironwood Capital

With  $550 million of capital under management, Ironwood Capital serves as a value-added partner for middle market transactions.  Ironwood invests in senior subordinated debt and equity securities in amounts ranging from $5 million to $25 million to support business owners and financial sponsors in leveraged buyouts, growth financings and recapitalizations. For more information, go to www.ironwoodcap.com

Wilton, CT – September 16, 2011.  Stanwich Partners, LLC (“Stanwich”) today announced that it had successfully exited its co-investment with Ironwood Capital in Micro-Precision Group, Inc. (“Micro-Precision”).  Micro-Precision was acquired by Desrosier & Company of Greenwich, CT.

Micro-Precision is a conglomerate of manufacturing businesses that provide precision machined components and systems. With manufacturing and administrative facilities in Connecticut and Maine, individual business units work closely with customers in the defense, aerospace, nuclear, commercial and homeland security sectors. In addition, Micro Precision LLC manufactures specialized OEM and retail products that are the leaders in their respective markets: Aerial Portable Tower Systems and Nathan Airchime train horns.  Desrosier & Company is a private investment firm that invests in middle market businesses.

Stanwich Partners, LLC is a Wilton, CT based private equity firm that specializes in acquiring small to middle market manufacturing, service, and value-added distribution firms.  Ironwood Capital is an Avon, CT based investment firm which invests in senior subordinated debt and equity securities in amounts ranging from $5MM to $25MM to support business owners and financial sponsors in leveraged buy-outs, growth financings, and recapitalizations.

Wilton, CT – June 17, 2011.  Stanwich Partners, LLC is pleased to announce the sale of Eagle Bridge Machine & Tool, Inc. to Strato Transit Components, Inc. Eagle Bridge has been a Stanwich portfolio company since 2004.

Based in Eagle Bridge New York, Eagle Bridge Machine & Tool, Inc. specialized in the machining of quality-intensive, medium to large sized castings used in the transit,  passenger rail, oil field drilling, and heavy industrial markets.

Headquartered in Piscataway, NY,  Strato Transit Components, Inc. manufactures, develops and engineers a range of products for the railroad and transit industries.

With investment roots stretching back to 1982, Stanwich Partners LLC is a private equity investment company specializing in the acquisition of established and profitable, small to middle-market manufacturing, service, and value-added distribution firms.  Stanwich Partners LLC acquires stakes in companies with a long history of family ownership or corporate divestitures. The firm invests in North American companies with sales between $5 million and $25 million with minimum EBITDA of $1 million. Stanwich Partners LLC is headquartered in Wilton, CT.

For more information, please contact Stephen Boeschenstein or Thomas Herrmann at 203-834-7826 extensions 250 and 232.