Briarcliff Manor, NY – (October 14, 2008) – Saw Mill Capital today announced the sale of its portfolio company, Turner Bros., LLC (“Turner”). Saw Mill Capital initially invested in Turner in 2002 and has worked closely with management over the last six years to extend the Company’s operating platform into new markets. Today the Company provides its industry leading lifting and specialized transportation services to wind, refining/petrochemical, power, and oil and gas customers throughout the U.S. The terms of the sale to Huntsman Gay Global Capital were not disclosed. Edgeview Partners advised Saw Mill Capital on the transaction.
“During our six years with Turner, we worked with the management team on implementation of strategic growth initiatives and proactive sales and marketing programs, which led to record financial performance,” said Howard Unger, Managing Partner at Saw Mill Capital. “We would like to thank the Turner management team and all employees for their hard work and dedication. We are confident the company can maintain its track record of growth.”
About Turner Bros., LLC
Turner Bros., LLC, headquartered in Houston, Texas, is a premier provider of highly-engineered, integrated lifting and transportation solutions. The Company serves the infrastructure development, recurring maintenance and routine operating needs of customers in the refining, petrochemical processing, wind energy, power and exploration and production (E&P) industries. Turner focuses on providing customized solutions that combine skilled labor, value-added services and specialized equipment to address unique customer requirements involving extreme weights and difficult dimensions.
About Saw Mill Capital LLC
Saw Mill Capital LLC is a private equity firm that acquires manufacturing and service companies with enterprise values of $25 to $200 million. Saw Mill makes platform investments in companies with at least $5 million of EBITDA, and will consider smaller transactions as add-ons for portfolio companies. Saw Mill’s disciplined process and active involvement allow it to help companies reach their full potential by working collaboratively with management teams and outside executives to create effective business strategies, implement best practices and provide global market expertise. To learn more about Saw Mill Capital, please visit www.sawmillcapital.com or contact any of the firm members.
