Hudson Ferry Capital Exits ASAP Industries
New York - January 15, 2013 – Hudson Ferry Capital, L.P. is pleased to announce that it sold ASAP Industries, LLC to American Capital, Ltd. on December 31, 2012. Hudson Ferry Capital, partnering with the company’s management team, acquired ASAP Industries four years ago. ASAP Industries, located in Houma, LA, is a niche manufacturing company that specializes in making wellhead and drill-thru equipment used in the production of oil and natural gas. ASAP serves a diverse customer base of original equipment manufacturers, rental equipment companies, and oilfield service companies. The company was founded in 2001.
“We are exceptionally pleased with our investment in ASAP. The company grew significantly during the past four years. We worked with the management team to help strengthen the company and broaden its leadership team. ASAP was Hudson Ferry’s first investment and is now our first realization. We are delighted that the ASAP sale will generate over 6x invested capital,” said Bruce Robertson, a Partner of Hudson Ferry Capital.
“Partnering with the professionals at Hudson Ferry Capital was a tremendous experience. They really helped us ramp up our growth and allowed the company to capitalize on new market opportunities. It was a pleasure working with their team over the past four years,” said Timothy DeRoche, founder and CEO of ASAP.
Simmons & Company International served as financial advisor and DLA Piper provided legal services for the transaction.
About Hudson Ferry Capital
Hudson Ferry Capital (www.hudsonferry.com) is a New York-based private equity firm that is currently making investments from Hudson Ferry Capital II, L.P., a $155 million fund with a focus on lower middle market niche manufacturing and business service companies. The firm partners with entrepreneurial owners and managers of established privately-owned companies that are differentiated through product or process innovation. As a trusted financial partner, Hudson Ferry can provide liquidity to current owners, provide capital to execute a growth strategy, and assist in transitioning an organization from a smaller or regional family-owned business into a larger, integrated enterprise.
For more information about this transaction, please contact:
Paul Huston
Partner
Hudson Ferry Capital
phuston@hudsonferry.com
(212) 308-3079
Bruce Robertson
Partner
Hudson Ferry Capital
brobertson@hudsonferry.com
(212) 308-3915