November 30, 2010
EL PASO, TX – Montage Partners, a Scottsdale, Arizona-based private equity firm, is pleased to announce it has acquired Clowe & Cowan of El Paso, Inc. in partnership with management. Founded in 1967 and located in El Paso, Texas, Clowe & Cowan of El Paso, Inc. (“Clowe & Cowan” or the “Company”) is a leading distributor of water pumps, pipe, valves and related water infrastructure equipment to utilities, utility contractors and mining companies in the U.S. and Mexico.
With extensive supplier relationships and technical knowledge accumulated through decades of experience, Clowe & Cowan is a trusted supplier to industrial and municipal markets, representing major brands of pumping equipment, water and wastewater technologies, and mining equipment.
Montage Partners acquired Clowe & Cowan alongside the Company’s senior leadership team from the Company’s founder, who will be retiring. Rick De La Torre will take on the role of President. Montage Partners is honored to partner with the Clowe & Cowan team to build on the Company’s successful history.
Clowe & Cowan is Montage Partners’ second investment in the water infrastructure industry, after acquiring Cal-Sierra Pipe, Inc. in April of 2010.
Clowe & Cowan was advised by investment banking firm McGladrey Capital Markets. Montage Partners was represented by the law firms Brier, Irish, Hubbard & Erhart, PLC and Osborn Maledon, P.A.
About Montage Partners
Founded in 2004 and located in Scottsdale, Arizona, Montage Partners is a private equity firm that invests in established companies in the western U.S. with EBITDA between $1 million and $5 million. Above all other investment criteria, Montage Partners invests in exceptional people. Montage Partners provides liquidity to those who have spent years of their life building great companies, protects those companies through a transition of ownership and supports the next generation of a company’s leadership in executing on growth initiatives. For more information, please visit www.montagepartners.com.