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July 9, 2010
New Haven, Connecticut – July 9, 2010 – Woodbridge Group, a middle-market mergers and acquisitions firm, is pleased to announce the completion of the recapitalization of Abrasive Products & Equipment by ShoreView Industries, a private equity firm.
Based in Deer Park, Texas, Abrasive Products & Equipment provides corrosion control equipment and supplies to the central Gulf Coast region. The company is one of the largest distributors of specialty abrasives in the country. From its four facilities, one in Texas and three in Louisiana, the company sells its products and services to large-volume blast and painting contractors who service petrochemical facilities, shipyards, offshore and oil field equipment, as well as other industrial facilities.
ShoreView Industries, based in Minneapolis, Minnesota, manages $600 million in private equity funds and structures a variety of acquisition, recapitalization and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million.
The Abrasive-ShoreView transaction was managed by Ernie Bower, who heads up Woodbridge’s Atlanta office.
“This recapitalization elicited a robust response from the private equity investment community, which demonstrated not only the unique appeal of APE, its business model and its management team, but the re-emerging strength of the middle market M & A space,” said Bower.
Woodbridge Group, Inc., an international M&A firm, was founded in 1993 to provide divestiture and acquisition services to middle market companies.