COSTA MESA, Calif., March 14, 2008 (PRIME NEWSWIRE) -- The Dyson Corporation has been recapitalized by TULCAN, L.P., a private equity firm based in Houston, Texas. Transaction terms were not disclosed.
RSM EquiCo Capital Markets LLC initiated the transaction, sourced the buyer, led the negotiations and acted as exclusive financial advisor to Dyson. David Richards, Jr. of Dworken & Bernstein, Co., LPA was legal advisor to Dyson. Debt financing was provided by Texas Capital Bank of Dallas Texas and Triangle Capital Corporation of Raleigh, N.C.
"Dyson, a multi-generation, family-run business, was looking for an M&A solution that would efficiently transfer wealth from one generation to the next, while allowing the family to remain a significant stakeholder in the company. Dyson offered a very compelling growth opportunity to TULCAN due to its ability to identify and capitalize on current high-growth markets, such as wind-energy," said Paul Weisbrich, senior managing director, RSM EquiCo Capital Markets.
"TULCAN presented an alternative investment opportunity that enabled the family to retain a meaningful ownership position and operational control of the business. Moreover, TULCAN will provide value-added direction from the board level," added Sean Walker, senior vice president.
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. Weisbrich and Walker led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm's services include mergers, acquisitions, divestitures, recapitalizations, capital raising and fairness opinions. RSM EquiCo Capital Markets, which offers in-depth expertise in 12 distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is affiliated with RSM McGladrey Inc., one of the nation's largest providers of business and tax consulting, wealth management, retirement resources and payroll services to midsized companies. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of FINRA and SIPC.
About The Dyson Corporation
Founded in 1886, Dyson (www.dysoncorp.com) is a niche domestic manufacturer of large diameter, short run, customized fasteners (bolts, screws, studs, nuts, rods) and custom forgings for use in domestic manufacturing and large infrastructure projects including; wind energy farms, bridges, dams and tunnels. Dyson operates from an ISO-9002 compliant 130,000 square foot facility equipped with heavy machinery including metal benders, hot parts formers, presses and threaders. Additionally, Dyson owns a 50% interest in Texas Nut & Bolt, LLC located in Houston Texas. The Dyson Corporation is based in Painesville, Ohio.
About TULCAN Private Equity Investors
Based in Houston, Texas, TULCAN (www.tulcan.com) manages funds in excess of $100 million of capital, and has invested in nine operating companies and 19 add-on acquisitions with combined enterprise values in excess of $400 million. TULCAN invests in businesses with stable cash flow and successful management teams, and is evaluating investments in process equipment manufacturing, heavy equipment, machining and metal fabrication, distribution, food processing and chemical manufacturing.