CHICAGO, June 4, 2009 - Victory Industrial Products, LLC (“VIP”), a portfolio company of WHI Capital Partners, today announced the acquisition of KDS International, Inc., a manufacturer of turbine airflow management products based in Terrell, TX. With the acquisition of KDS (now Victory Turbine Systems), Victory has begun an initiative to expand its significant market presence in manufacturing enclosures and tanks for diesel-engine standby power solutions into the gas turbine market.
Victory’s CEO, Bob Carter, stated, “Given our expansion over the past two years, the successful opening of our new Phoenix facility, and the continued backing and resources of WHI Capital Partners, we have the financial capacity and technical knowledge to make a significant impact in the turbine market. Considering that several members of our current team have many years of experience within the turbine industry, this really becomes a logical extension of our business. The synergies between the two industries are numerous allowing us to utilize much of the same manufacturing best practices to serve both markets.”
Victory Turbine Systems will retain the current management team of KDS International and will provide additional technical and marketing support from VIP headquarters in Batavia, Ohio. Victory Turbine Systems will be a world class fabricator of turbine products targeting both engineering companies and OEMs, building a full line of products from facilities in Texas, Arizona and Ohio for a global customer base.
Eric Cohen, Managing Partner of WHI Capital Partners, added, “Bob and his senior management team continue to grow the Victory platform despite the challenging economic conditions. Victory’s entry into the turbine market has been part of the long term strategic plan that we formed when we acquired the Company in May 2007, and marks a significant step in the development of the business. We remain excited about the organic growth opportunities in this market, as well as strategic acquisitions in new areas which will continue to leverage Victory’s strong engineering and manufacturing expertise.”
About WHI Capital Partners
WHI Capital Partners (www.whicapital.com) is a Chicago based private equity firm established to invest in mid-size companies that have been consistently profitable. Whether for a long term partnership or for a complete sale of their business, business owners choose us as a partner because we bring more than capital to the transaction. Our strong and enduring values, deep operational expertise, committed capital, and long term investment perspective make us a preferred partner for business owners seeking to take their business to the next level, locate an ethical capital partner, or sell the company- leaving their legacy in good hands. Our investment philosophy is based upon a 60-year heritage of successfully growing middle market companies into larger, more profitable organizations. For more information contact Eric Cohen at (312) 604-7901 or ecohen@whicapital.com.
About Victory Industrial Products
Victory Industrial Products is a leading manufacturer of custom enclosures and integrated fuel tanks for diesel-fueled power generating units, commonly used in the provision of back-up power. With locations in Batavia, OH, Phoenix, AZ and Terrell, TX, the company operates 200,000-square-feet of manufacturing facilities across the nation. For more information regarding Victory, please visit their website at www.victoryindustrialproducts.com.