Industria
May River Capital Acquires Cashco as its First Investment in a New Flow Control Solutions Platform
Under the leadership of President Clint Rogers , Cashco has achieved impressive growth over the past several years and is well-positioned to benefit from industry tailwinds in the diverse industries it serves. Rogers and the entire Cashco leadership team will continue to lead the organization in their current roles.
"We are proud of our heritage, brand, and values at Cashco, and are excited to partner with May River as we embark on the next phase of growth," Rogers said. "May River has significant industrial sector focus along with deep financial and operational resources, which will allow us to continue to support our customers globally."
Rahul Deshmukh , May River's operating executive, will transition to CEO and executive chairman of Cashco.
"Cashco represents a high-quality business to serve as a growth platform for May River," Deshmukh said. "We are delighted to partner with Clint Rogers and his experienced leadership team to drive growth and innovation in the business. We are committed to significant investment to build out this platform in the coming years, both organically and through M&A activity."
Phil Ramsbottom , Principal at May River, said, "This strategy represents our fourth platform in the flow control sector, our deepest area of experience. Cashco's leadership has built a tremendous foundation from which we plan to grow through further investments in new products, new markets, and complementary add-ons. We are excited to partner with Rahul, Clint, and the balance of the team to better serve Cashco's loyal base of global customers."
Paul Hastings LLP and BMO Capital Markets served as legal counsel and financial advisor to May River, respectively. Houlihan Lokey served as financial advisor to Cashco. BMO Harris Bank provided debt financing in support of the acquisition.
Cashco is a well-established designer, manufacturer, and servicer of a broad line of industrial control products. Products include regulators, control valves, controllers, pressure/vacuum relief vents, and flame and detonation arrestors. Cashco services customers in industries including industrial gas, chemicals, terminal storage, electronics, and food and pharmaceuticals, through a worldwide network of offices and representatives. For more information, please visit www.cashco.com .
May River Capital is a Chicago -based private equity firm focused exclusively on partnering with lower middle-market, industrial growth businesses. May River invests in high-performing companies in such sectors as advanced manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution services. For more information, please visit www.mayrivercapital.com .
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