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CHARLOTTE, N.C. ~ Summit Park, a Charlotte, North Carolina-based private equity firm, has announced the sale of its portfolio company, Parkline Inc., to Trachte LLC, a portfolio company of Palladium Equity Partners.
Headquartered in Eleanor, West Virginia, Parkline is a leading manufacturer of custom engineered modular metal building solutions with mission critical applications across diverse end markets. Founded in 1973 as an independent company, Parkline produces buildings and enclosures for control, distribution, monitoring and optimization applications in the energy, utility, industrial and infrastructure markets.
Bob Calton, co-Managing Partner at Summit Park said: "We have enjoyed our longstanding partnership with Parkline and are proud of the evolution and expansion of the business over the time of our investment. Bill Estep and the entire Parkline team have done a great job executing the strategic vision of the Company resulting in significant growth and a reputation as a trusted industry leader. Summit Park looks forward to following Parkline's future success."
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During Summit Park's ownership period, Parkline broadened its capabilities and successfully expanded into new geographies and end markets. The Company grew its manufacturing capacity and capabilities through its acquisition of Bebco Industries which specializes in heavy-gauge metal buildings for applications across the industrial, chemical and energy end markets.
Bill Estep CEO of Parkline added: "Throughout Summit Park's ownership we made significant investments in our business and team to expand our service offerings and pursue new opportunities. We have thoroughly enjoyed our partnership with Summit Park and are excited for our next chapter of growth as a part of Trachte."
The transaction marks Summit Parks third exit from its first fund - Summit Parks I-A - with Livingstone Partners serving as financial advisor while McGuireWoods LLP acted as legal advisor to both parties involved in this transaction.
Headquartered in Eleanor, West Virginia, Parkline is a leading manufacturer of custom engineered modular metal building solutions with mission critical applications across diverse end markets. Founded in 1973 as an independent company, Parkline produces buildings and enclosures for control, distribution, monitoring and optimization applications in the energy, utility, industrial and infrastructure markets.
Bob Calton, co-Managing Partner at Summit Park said: "We have enjoyed our longstanding partnership with Parkline and are proud of the evolution and expansion of the business over the time of our investment. Bill Estep and the entire Parkline team have done a great job executing the strategic vision of the Company resulting in significant growth and a reputation as a trusted industry leader. Summit Park looks forward to following Parkline's future success."
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During Summit Park's ownership period, Parkline broadened its capabilities and successfully expanded into new geographies and end markets. The Company grew its manufacturing capacity and capabilities through its acquisition of Bebco Industries which specializes in heavy-gauge metal buildings for applications across the industrial, chemical and energy end markets.
Bill Estep CEO of Parkline added: "Throughout Summit Park's ownership we made significant investments in our business and team to expand our service offerings and pursue new opportunities. We have thoroughly enjoyed our partnership with Summit Park and are excited for our next chapter of growth as a part of Trachte."
The transaction marks Summit Parks third exit from its first fund - Summit Parks I-A - with Livingstone Partners serving as financial advisor while McGuireWoods LLP acted as legal advisor to both parties involved in this transaction.
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