Published:
Platte River Ventures Closes Purchase of Hetsco, Inc.
DENVER, Sept. 5 /PRNewswire/ -- Platte River Ventures announced today that
it acquired all of the outstanding stock of Hetsco, Inc. ("Hetsco" or the
"Company") in partnership with senior management. Headquartered inGreenwood,
Indiana, Hetsco is the leading independent provider of repair and maintenance
services for brazed aluminum plate-fin heat exchangers used in industrial gas,
liquefied natural gas and chemical facilities, as well as a specialty provider
of construction and fabrication services for the industrial gas industry.
"We are excited about our new partnership with Platte River Ventures,"
said Ralph Canter, CEO of Hetsco. "I believe that the significant operating
experience of Platte River Ventures' principals, along with the access to
additional capital, will allow us to execute on our growth strategies."
"Hetsco represents our first investment in industrial services, a sector
we have been focused on for the past year," said Peter Calamari, Managing
Director of Platte River Ventures. "The Company has long standing
relationships with the leading global industrial gas and chemical companies,
and a reputation for highly talented welders and unparalleled service. We are
looking forward to working with the management and employees of Hetsco in
continuing to identify opportunities for both organic growth and complementary
acquisitions."
About Hetsco, Inc.
Hetsco is the leading independent provider of repair and maintenance
services for brazed aluminum plate-fin heat exchangers used in industrial gas,
liquefied natural gas and chemical facilities. As a critical vender to the
industrial gas industry for over 25 years, the Company's highly skilled
welders travel worldwide on a time and materials basis to perform both
emergency and planned repairs. In addition to exchanger repair services,
Hetsco offers specialty construction and fabrication services for the
industrial gas industry. For more information on Hetsco, please visit
http://www.hetsco.com.
About Platte River Ventures
Based inDenver, Colorado, Platte River Ventures is a private equity firm
focused on investing in small and middle market operating companies. The
firm's strategy is to invest behind strong management teams in industries
where Platte River Ventures' principals have operating and investing
experience including: aerospace, industrial services, energy services, metals,
chemicals and agriculture. The firm seeks investment opportunities where
Platte River Ventures' principals can add meaningful value to its management
partners in creating larger enterprises through internal growth and
complementary acquisitions. Platte River Ventures currently manages funds
with committed capital totaling in excess of $250 million. For more
information on Platte River Ventures, please visit
http://www.platteriverventures.com.
SOURCE Platte River Ventures
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
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