Published: October 15, 2009
The March Group: PAG Capital, LLC Makes Majority Equity Investment in Corporate Technology Solutions, LLC
CORAL SPRINGS, Fla. - (BUSINESS WIRE) - The
March Group, a leading, private mergers and acquisitions advisory
firm specializing in the sale of middle-market businesses, announced
today that PAG Capital Partners, LLC, a private equity firm, has taken a
majority stake in Corporate Technology Solutions, LLC (CTS), a client of
The March Group.
"It was extremely satisfying to complete a transaction that was clearly
a win-win for the buyer and seller," said The March Group's Vice
President of Capital Markets Mike
Meredith, who arranged the transaction. "PAG has taken a majority
stake in a company that has been able to expand revenue and EBITDA in a
difficult economic environment and has excellent prospects for continued
growth in the future."
In conjunction with the transaction, Wes Dearbaugh joined CTS as
Chairman and Chief Executive Officer. Mr. Dearbaugh, a PAG Operating
Partner and formerly president and chief operating officer of several
private and public companies, has over 30 years of experience leading
and growing companies. Brian Rhynas and Scott Tubbs will remain in their
current roles.
"We wanted to move to the next level in developing the business, and by
arranging this deal, The March Group helped us make that move," stated
Brian Rhynas, President of CTS, said. "We're very excited about our
partnership with PAG and the opportunity to have an executive of Wes
Dearbaugh's caliber join our team. The addition of Wes as CEO together
with PAG's financial and operating support will enable CTS to capitalize
on the many organic growth and acquisition opportunities that are
available in our region."
Stephen Sleigh, Partner at PAG, said, "Our investment in CTS is
consistent with PAG's objectives of identifying middle-market companies
with untapped potential and supporting them with additional management
and financial resources. Brian Rhynas and Scott Tubbs have built an
excellent company, and we are looking forward to working with them to
continue CTS' reputation of excellent customer service and best-in-class
installation services and to expand its geographic footprint."
Alex Fridman, Partner at PAG, said, "The March Group was instrumental in
introducing the deal to us and served as an effective intermediary in
our deal negotiations."
PAG is a Chicago-based private equity firm specializing in private
equity investments and recapitalizations of lower middle-market
companies in partnership with management. For additional information
about PAG, please refer to the firm's Web site at www.pagcapital.com.
Established in 1998 and headquartered in Tempe, Arizona, CTS has grown
to become a leading provider of low-voltage structured cabling
installation services in Arizona. CTS achieved record performance in
2008 and has continued that success in 2009 by focusing on providing
high-quality design and installation services to its customers and
partnering with leading integrated cabling manufacturers and suppliers
to deliver the best solutions to its customers. For additional
information about CTS, please visit the Company's website at www.ctscabling.com.
About The March Group
The March Group is a mergers and acquisitions advisory firm dedicated to
the middle market. Founded in 1986, The
March Group is headquartered in North America. The company employs
over 200 professionals and has built a dynamic network of business
relationships with buyers and investors worldwide. The March Group
specializes in valuation, corporate finance, strategic growth,
marketing, and the negotiation and sale of privately held, middle-market
businesses.
For more information about The March Group, please visit the following:
www.MarchGroup.com
www.Corporations4Sale.com
www.facebook.com/TheMarchGroup
www.Twitter.com/TheMarchGroup
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6074463&lang=en
The March Group
Kelli Matonak, Corporate Marketing Director,
954-282-3336
kmatonak@marchgroup.com
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