DENVER, Feb. 2, 2023 /PRNewswire/ -- Platte River Equity ("Platte River"), a Denver-based private equity firm that makes control investments in North American industrial and value-added distribution companies, is excited to announce it has acquired Womack Machine Supply Company ("Womack" or the "Company"). Womack is a value-added industrial distributor of components and solutions for hydraulic, pneumatic and automation control systems.
"Platte River is honored to carry on the legacy that the Rowlett family has established over the past 17 years," said Mark Brown, Platte River Managing Director. "Womack is a premier solution provider representing global manufacturers and related components used in the fluid power and automation industry. We are thrilled to partner with the management team of Womack as we seek to expand the company's strong market position."
"We have known the Platte River team for a number of years and are excited to partner with them given their track record, industrial distribution expertise and culture," said Matt Oldroyd, CEO of Womack. "We look forward to expanding the service and support we provide to our suppliers and customers and plan to leverage Platte River's extensive experience to continue our strong growth trajectory. We could not be more excited about this partnership and the alignment of our strong cultures."
"We look forward to partnering with Matt and the management team to capitalize on Womack's attractive growth opportunities, including organic initiatives and complementary acquisitions," added Mike Reilly, Vice President of Platte River.
William Blair acted as financial advisor, and Nelson Mullins provided legal counsel to Womack. Bartlit Beck LLP served as legal counsel to Platte River.
Founded in 1953 and based in Farmers Branch, TX, Womack is a value-added distributor of industrial fluid power and automation solutions. The Company serves a diverse customer base across 13 facilities. For additional information, please visit www.womackmachine.com.
About Platte River Equity
Founded in 2006 and based in Denver, CO, Platte River Equity is a private equity firm focused on investments in established lower middle market operating companies within targeted industrial sectors where it has substantial operating and investing experience. Platte River utilizes conservative capital structures in order to invest in future growth opportunities and withstand changing economic environments. The firm also provides significant ongoing support to its portfolio companies through dedicated resources across functional areas.
The firm has raised funds with committed capital in excess of $1.3 billion and is currently investing out of its $625 million fourth fund. The Platte River team is the largest collective investor across its funds, deeply aligning the firm with its investors and portfolio company management teams. For additional information, please visit www.platteriverequity.com.
Brian P. Klaban
Director of Business Development & Debt Capital Markets
Phone #: +1 303 292 7317
Lauren A. Metz
Vice President of Business Development
Phone #: +1 303 292 7321
View original content:https://www.prnewswire.com/news-releases/platte-river-equity-acquires-womack-machine-supply-company-301737101.html
SOURCE Platte River Equity