||2012 For the Record
- Private equity firms The Carlyle Group and BC Partners have agreed to purchase Hamilton Sundstrand Corp.’s industrial businesses, including Sullair Corp., Michigan City, Ind., a leading manufacturer of air compressors, from United Technologies. BC Partners and Carlyle have formed a limited partnership and will jointly oversee management of Sullair. This transaction is expected to close in the fourth quarter, upon completion of all required approvals. The Carlyle Group is a 25-year-old investment firm that has investors ranging from public and private pension funds to unions and corporations. BC Partners is a 26-year-old worldwide private equity firm that specializes in buyouts and acquisition financing. “The partnership between Carlyle and BC Partners provides a unique growth opportunity for Sullair. They recognize that our business is a performance leader in our markets with great employees, great products and vested channel partners. Additional investment in Sullair will enhance our capabilities to compete on a global scale,” said Henry Brooks, president, Sullair Corp.
- Ahern Rentals, Las Vegas, has been given exclusivity until Oct. 9, 2012, to file its bankruptcy plan. Judge Bruce Beesley, U.S. Bankruptcy Court for the District of Nevada, extended Ahern’s exclusivity period after the rental company had asked for an extension. During the exclusivity period, only the debtor can file a reorganization plan. Once the period has passed, creditors can present their own reorganization plans or takeover proposals.
- Texada Software, Guelph, Ontario, Canada, has changed the name of the company to Noble Iron while the company’s software division continues to operate under the brand name of Texada Software. The company also consolidated its outstanding common shares on the basis of one new common share for every five old common shares to reduce the number of common shares outstanding to 17,181,636.
- Alert Management Systems, Colorado Springs, Colo., has moved its headquarters to new offices at 19 S. Tejon Street, Suite 206, in central downtown Colorado Springs.
- National Event Supply (NES), a division of D & K Imports, Mississauga, Ontario, Canada, has entered a strategic alliance with Locher Evers International, which allows NES to warehouse and distribute select products from the Locher Evers warehouse in Vancouver, British Columbia, Canada.
- Compact Power Equipment Center (CPEC), now in 400 locations of The Home Depot, is joining with 811 to encourage users to always call 811 at least two days before digging, so underground utility lines can be clearly marked. More than 4,000 pieces of rental equipment and their trailers will carry the high-visibility 811 reminder stickers. “We feel that partnering with 811 in support of the national CGA (Common Ground Alliance) initiative is a perfect way to promote our job safety and damage prevention message,” said Chuck Beats, safety and product manager. More information about 811 and safe digging practices are available online at call811.com.