Lincoln International Represents TMB Industries and Chilmark Partners in the Sale of Fuel Systems to Brazos Private Equity Partners
February 22, 2006 - Chicago, IL - TMB Industries ("TMB") and Chilmark Partners ("Chilmark"), Chicago based private-equity investment firms, have completed the sale of Fuel Systems LLC ("Fuel Systems"), a joint portfolio company to Brazos Private Equity Partners, LLC ("Brazos"). Lincoln International initiated this transaction, assisted in the negotiations and served as exclusive financial adviser for the sellers. Terms of the transaction were not disclosed.
Headquartered in Grand Rapids, Mich., Fuel Systems LLC is the leading independent North American supplier of fuel tanks for a variety of commercial vehicles ranging from light, medium and heavy duty trucks to other industrial and off-highway applications. For over 65 years, the company has established its leading brand name and reputation for offering the most comprehensive line of fuel tanks in the industry. Fuel Systems' products include over 5,000 different styles of fuel tanks, including vehicular-mounted steel and aluminum fuel tanks and hydraulic tanks offered in a variety of sizes, shapes, materials and finishes. Fuel Systems serves its customers from five strategically located U.S. manufacturing locations.
Commenting on the transaction, Tim Masek, Managing Director of TMB said, "This is the second transaction we have worked on with Lincoln and are, once again, very pleased with the results. Lincoln generated interest in the transaction from both financial and strategic buyers by focusing them on the company's competitive strengths and the upside potential of several exciting incremental sales and cost savings opportunities. Lincoln's advocacy and thorough marketing of the company resulted in us finding Brazos who were the right partner for Fuel Systems' management to pursue these opportunities in the future. This is a successful transaction for all involved."
About TMB Industries
Founded in 1989, TMB is private investment firm based in Chicago, Illinois, focusing on transportation and general industrial end markets. The principals of the firm invest their own capital and often partner with management and other outside equity sources. TMB has successfully completed over 35 transactions since its inception. The company brings deep operational expertise to each of its portfolio investments.
About Chilmark Partners
Formed in the late 1990's after splitting from Zell/Chilmark Fund, Chilmark is a Chicago based private equity firm focusing on distressed or turn-around situations. Chilmark has $85 million under management with its first fund and invests for both control and minority positions.
About Lincoln International
Lincoln International specializes in merger and acquisition services and private capital raising for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, New York and Paris, and partner firms in Asia, Lincoln International has strong local knowledge of and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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