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Hamilton Robinson Capital Partners Purchases
Spartech Industries, Inc. (Wheels Division) from
Spartech Corp.
Warsaw, Indiana, USA. (October 28, 2009) - Hamilton Robinson
LLC, a private equity firm based in Stamford, Connecticut,
announced today that Hamilton Robinson Capital Partners L.P. III,
together with management and certain co-investors, has acquired
the business of Spartech Industries, Inc. (Wheels Division), aka
Custom Engineered Wheels, Inc. (CEW) from parent company
Spartech Corporation. CEW will become a stand-alone company
with no changes in management structure or day-to-day business
operations.
CEW is the largest North American manufacturer of custom
engineered, non-pneumatic wheels for lawn and garden products
and wheelchairs. Under the current management team, it has
demonstrated a solid track record of profitable growth over the past
five years.
Mark Riser, a partner at Hamilton Robinson stated, "We are very pleased to join
with CEW management to complete this transaction. We have been very impressed
with the performance and track record of CEW under the leadership of Bruce
Harrison and Duane Moore and their management team, and we look forward to
working with them to further develop the business."
Bruce Harrison, President of CEW said, "We appreciate the support from Spartech
management in developing our business and we are extremely excited about our
partnership with Hamilton Robinson. Given their industry expertise and association
with top quality executives, Hamilton Robinson’s support of the management team
will ensure CEW’s ability to continue providing best-in-class products and services
to our customers. We believe the future is bright for our company and employees."
About Hamilton Robinson Capital Partners
Hamilton Robinson Capital Partners is a leading private equity sponsor with a 20-
year history of investing in smaller, middle market companies. The firm has a
proven history of growing companies and has financed over $1 billion in
transactions. Recent Hamilton Robinson Capital Partners investments include
MEGTEC Systems, a leading manufacturer of highly engineered industrial
equipment and environmental controls, and Davis-Standard, a supplier to the
packaging industry. For more information about Hamilton Robinson Capital
Partners, visit their web site at www.hrco.com.
For more information about CEW products and services, e-mail
bruce.harrison@spartech.com.
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