Waples Manufacturing, a portfolio company of Southlake Equity Group, has been acquired by Banyan Investment Partners. Quarton Partners acted as the exclusive financial advisor to Waples and Southlake in this transaction.
Waples Manufacturing is a full-service provider of precision machined solutions for the oil and gas market. Waples manufactures highly engineered products that are used in a number of severe-duty applications, including hydraulic fracturing pump and tank equipment, cementing, oilfield tooling, plunger lift systems, mining drill rig equipment and aviation communications equipment. Throughout its 50-year history, Waples has developed a sterling reputation among its customer base by manufacturing products under short lead times for both low and high volume applications.
Banyan Investment Partners is a private equity firm based in Miami, Florida that provides private equity and mezzanine capital. Banyan currently has over $400 million of committed capital under management.
Quarton performed superbly throughout the entire process and drove the transaction to a successful close. We were deeply impressed by the quality of the marketing materials and the energetic outreach to a broad community of potential buyers. In addition, the Quarton team developed professional, respectful and results-driven relationships with the Waples management team early on and sustained them through the close.
Most importantly, the Quarton team managed the sale process highly effectively from the Letter of Intent stage until the transaction closed. You proactively identified potential hurdles and engaged Southlake Equity, the management team, and the buyer to resolve those issues, always keeping the process on track. I look forward to a long relationship with Quarton. Thank you again for doing such an excellent job.
Thomas C. Keene
Managing Partner, Southlake Equity Group | Former Chairman of the Board, Waples Manufacturing
January 30, 2019
Finance Monthly Deal Maker Award for Quarton, a Cowen Company
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