December 31, 2012
EL PASO, TX – Montage Partners, a Scottsdale, Arizona-based private equity firm, announced today the sale of its interest in Clowe & Cowan of El Paso, LLC (“Clowe & Cowan” or the “Company”) through a recapitalization with Northstar Capital, a Minnesota-based mezzanine debt and equity investor.
Clowe & Cowan 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 four 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.
Since acquiring the Company from its founder in 2010, Montage Partners worked closely with management to support operational and strategic growth initiatives aimed at strengthening the business and accelerating revenue and EBITDA growth. The Company’s revenue grew more than 60% and EBITDA more than doubled during Montage’s ownership.
Montage Partners was represented by the law firm Brier, Irish, Hubbard & Erhart, PLC.
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.