{"id":655437,"date":"2013-05-01T07:14:32","date_gmt":"2013-05-01T11:14:32","guid":{"rendered":"http:\/\/www.pehub.com\/?p=199313"},"modified":"2013-05-01T07:14:32","modified_gmt":"2013-05-01T11:14:32","slug":"platte-river-sells-hetsco","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/655437","title":{"rendered":"Platte River Sells Hetsco"},"content":{"rendered":"

Platte River Equity<\/strong> has sold Hetsco<\/strong> to Global Power Equipment Group<\/strong>. Financial terms weren’t announced. Greenwood, Ind.-based Hetsco provides emergency and planned repairs for brazed aluminum heat exchangers. St. Charles Capital<\/strong> served as financial advisor to Hetsco while TM Capital<\/strong> provided financial advice to Global Power.<\/p>\n

PRESS RELEASE<\/p>\n

Platte River Equity (“Platte River”) today announced the sale of its portfolio company, Hetsco, Inc. (“Hetsco”) to Global Power Equipment Group Inc. (Nasdaq: GLPW) (“Global Power”).
\nHeadquartered in Greenwood, Indiana and founded in 1981, Hetsco is the leading provider of emergency and planned repairs for brazed aluminum heat exchangers, the critical process equipment used in air separation and other gas processing applications.\u00a0 Hetsco also provides maintenance, fabrication, construction, relocation and safety services to the leading industrial gas, gas processing, LNG and utility companies.
\n“We are proud of Hetsco’s development over the past several years under the leadership of Sam Willard and Steve Powell ,” said Platte River Managing Director Peter Calamari .\u00a0 “In this environment of increasing investment in industrial gas production and processing, Hetsco is poised for continued success.\u00a0 We are also pleased that the company will be owned by Global Power, a strong and supportive new partner for Hetsco and its employees.”
\nSam Willard , President of Hetsco, commented, “The financial, strategic and operational support Platte River has provided to Hetsco over the last five years has been invaluable.\u00a0 We accomplished all we had set out to do, and Platte River was a critical partner in our success.\u00a0 We look forward to a new chapter of continued growth with Global Power.”
\nLuis Manuel Ram\u00edrez, President and Chief Executive Officer of Global Power, commented, “We are pleased with the successful closing of this transaction and eager to work with the Hetsco team to develop new opportunities for the expansion of our Services Division.”
\nBartlit Beck Herman Palenchar & Scott LLP served as legal counsel to Platte River, and St. Charles Capital served as the exclusive financial advisor to Hetsco.\u00a0 Thompson Hine LLP served as legal counsel and TM Capital served as financial advisor to Global Power.
\nAbout Platte River Equity
\nBased in Denver, Colorado, Platte River Equity is a private equity firm focused on investments in lower middle market operating companies with enterprise values generally between $20 million and $250 million. \u00a0The firm focuses on investing in sectors where it has deep operating and investing background, including aerospace and transportation; energy and industrial products and services; and chemicals, metals and industrial minerals. Platte River Equity manages funds with committed capital in excess of $700 million. Please visit www.platteriverequity.com.
\nAbout Global Power
\nTexas-based Global Power Equipment Group Inc. is a design, engineering and manufacturing firm providing a broad array of equipment and services to the global power infrastructure, energy and process industries.\u00a0 Through its Services Division, the Company provides on-site specialty support and outage management services for commercial nuclear reactors in the United States, maintenance services to fossil and hydroelectric power plants and industrial gas processing services.\u00a0 Through its Products Division, the Company designs, engineers and manufactures a comprehensive portfolio of equipment for gas turbine power plants and power-related equipment for industrial operations, with over 40 years of power generation industry experience.\u00a0 With a strong competitive position in its product lines, the Company benefits from a large installed base of equipment in domestic and international markets.\u00a0 Additional information about Global Power Equipment Group Inc. may be found at www.globalpower.com.<\/p>\n

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Platte River Equity has sold Hetsco to Global Power Equipment Group. Financial terms weren’t announced. Greenwood, Ind.-based Hetsco provides emergency and planned repairs for brazed aluminum heat exchangers. St. Charles Capital served as financial advisor to Hetsco while TM Capital provided financial advice to Global Power. PRESS RELEASE Platte River Equity (“Platte River”) today announced […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-655437","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/655437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=655437"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/655437\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=655437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=655437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=655437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}