September 15, 2017
Birmingham, Michigan, September 15, 2017 – Quarton International is pleased to announce that R.S.T. Instruments Ltd. (“RST” or the “Company”), a portfolio company of Hammond, Kennedy, Whitney & Company, Inc. (“HKW”), has been acquired by Vance Street Capital. Quarton International acted as the exclusive investment banking advisor to RST and HKW.
Founded in 1977 and headquartered in Maple Ridge, British Columbia, RST designs and manufactures highly-engineered geotechnical instrumentation, sensors and data systems for applications where structural integrity must be assured. End use applications for RST’s products include critical structures such as bridges, hydroelectric dams, mines, railroads, airports, tailings dams, tunnels and highways. RST’s products monitor, measure, log and transmit readings of geotechnical properties such as inclination, pressure, displacement and temperature so that customers can manage risks, increase productivity and reduce costs.
“RST is a prime example of the type of company we seek out,” said Jeff Wood, HKW Senior Partner and former Chairman of the RST Board. “RST is a niche market leader with world class product development and manufacturing abilities. These attributes, together with a seasoned and hard-working management team, made for a rewarding partnership.”
“We look forward to partnering with Vance Street to further expand our global presence and continue to enhance the breadth of product solutions we provide to our customers” said Bruce Ripley, CEO of RST. “Vance Street’s experience building precision manufacturing businesses through organic product innovation and sales channel management, as well as strategic add-on acquisitions aligns well with our long-term growth objectives.”
Hammond, Kennedy, Whitney & Company, Inc. (www.hkwinc.com) is a private equity firm founded in 1903 with offices in Indianapolis and New York. Since 1982, HKW has sponsored 54 platform transactions of middle-market companies throughout North America, as well as 61 add-on acquisitions.
Vance Street Capital, LLC (www.vancestreetcapital.com) is a Los Angeles-based private equity firm which invests in middle-market businesses in the medical, aerospace, defense and industrial sectors. For over two decades, Vance Street’s partners have worked with management, family owners and other co-investors to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio.