 |
 |
12/31/2007
Contact:
For RockWood Equity Partners LLC
Brett R. Keith
(212) 218-8284
FOR IMMEDIATE RELEASE
ROCKWOOD EQUITY PARTNERS SUPPORTS FOUNDING FAMILY TRANSITION OF XL SPECIALIZED TRAILERS
NEW YORK AND CLEVELAND, December 31, 2007 - RockWood Equity Partners has partnered with Granite Equity Partners to assist Scott Wall, President, CEO and second generation founding family member, in the acquisition of the assets of XL Specialized Trailers, Inc. ("XL" or the "Company"). The transaction will provide resources for Scott Wall to assume formal leadership of XL, provide liquidity to the founding generation and properly position the Company with specific human and financial capital for future growth.
Based in Manchester, Iowa, XL manufactures premium quality, commercial and construction style trailers that combine safety, durability, value and innovation. The Company's highly specialized products primarily focus on serving heavy haul applications in the infrastructure, agricultural, utility, oil and gas, mining and alternative energy markets in North America. In the twelve years since its founding, XL has grown to now generate nearly $50 million in annual revenues.
"We are excited to once again partner with Granite Equity and to assist a founding family in its succession planning," said Brett R. Keith, Managing Director of RockWood Equity Partners, "We are thrilled to be partnering with Scott Wall and his management team. XL has had impressive growth and has an excellent reputation in their niche industry."
Founded in 1999, RockWood Equity Partners is a private equity firm that specializes in the acquisition of lower middle market companies based in North America with revenues between $10 million and $100 million. Since 1999, RockWood has completed over twenty investments in partnership with family ownership, management and/or other deal sponsors.
|
|
