Swanson Industries and AEA Investors LP Complete Equity Investment in Jarvie Engineering
Morgantown, WV, February 06, 2014 --(PR.com
)-- AEA Investors LP (www.aeainvestors.com); via its investment in Swanson Industries (www.swansonindustries.com) is pleased to announce that it has added Jarvie Engineering (www.jarvie.com.au) to its portfolio of investments. AEA/Swanson will provide additional resources to expand and invest in Jarvie’s existing facilities while also taking advantage of the many growth opportunities available to the company.
AEA/Swanson, along with retained senior management personnel at Jarvie, will continue to address and support the long standing range of quality support of products and service offerings provided by Jarvie as well as bolster and expand upon the significant synergies between Swanson Industries and Jarvie Engineering. The histories of Swanson Industries and Jarvie Engineering are very similar having run a similar path and the combined efforts of the companies make a very natural combination to expand the provision of commonly shared engineered products and services to a wider, international customer base. With this new partnership, Swanson Industries and Jarvie Engineering are poised to maintain and improve the same quality and services its customers have grown to expect well into the future.
The Jarvie family and its employees have built a tremendous legacy of support for its customer base and AEA/Swanson plans to expand on that legacy and build upon the legacy.
“The combination of Jarvie Engineering with our Swanson Industries business is such a natural fit that the sharing of resources, practices and knowledge is assured to improve our combined ability to support our customers,” said Bill Gibson SVP of Swanson Industries Mining Group. “We are very excited about our path forward with Jarvie Engineering as our partner in Australia and words cannot express the value of the legacy of the Jarvie family and the importance we place on its support of the customer base and the company they built.”
“The entire team at AEA/Swanson is excited to partner with the management team of Jarvie Engineering to continue the growth and expansion of this long-standing industry leader,” said William Roller, CEO Swanson Industries. “We are impressed with the business that management has built and plan to support Jarvie through AEA/Swanson’s experience in the industrial sector and our global footprint, operating resources and access to capital.”
“We are excited to combine our resources with Swanson Industries and look forward to building the future together,” said Paul Pittard, General Manager Jarvie Engineering.
About Swanson Industries
Swanson is a leading provider of hydraulic cylinder aftermarket repair and remanufacturing, new hydraulic cylinder manufacturing, and related product distribution services to the underground mining, off-highway, and offshore oil and gas markets. Additional information is available at www.swansonindustries.com.
About AEA Investors LP
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA’s active individual investors (the “Participants”) include an extraordinary network of more than 75 highly successful business executives, industrial families and former government leaders. Today, AEA’s over 60 investment professionals operate globally with offices in New York, London, Munich, Hong Kong and Shanghai. The firm manages funds that have over $6 billion of invested and committed capital including the leveraged buyouts of middle market companies and small businesses and mezzanine and senior debt investing. AEA Private Equity invests across four sectors: value added industrial products, specialty chemicals, consumer products / retail and services. Additional information is available at www.aeainvestors.com.