OKLAHOMA
CITY, Sept. 11, 2024 /PRNewswire/ -- Praesidian
Capital, which made a strategic equity investment in Reel Power in
November 2023, is pleased to announce
that Reel Power has acquired Novatec Inc.'s downstream equipment
products for extrusion lines. Novatec, the largest U.S.-based
manufacturer of leading drying and conveying equipment, agreed to
divest its downstream product line as part of its strategy to
concentrate on core upstream solutions. Praesidian Capital, a
private equity firm headquartered in Oklahoma City with offices in New York and London, has been investing in privately held
businesses for the past 20+ years, specializing in companies with
$2 – $10
million of EBITDA across various industries.
The acquisition of these downstream products is a strong fit for
Reel Power, a recognized leader in precision reeling, coiling, and
spooling solutions for several markets. This acquisition allows
Reel Power Industrial, Inc., to provide a turn-key downstream
package to customers, one that increases the automation offering
for improved productivity.
With the addition of Novatec's downstream products—including
pullers, cutters, saws, cooling and vacuum tanks—Reel Power expands
its existing portfolio, enabling the company to deliver a
full-suite of turnkey downstream solutions.
Jason Drattell, Praesidian
Founder said, "We are thrilled with Reel Power's recent
acquisition, which enhances the company's ability to serve key
markets with comprehensive downstream offerings."
About Reel Power
Reel Power designs and builds standard & custom reeling and
coiling equipment, delivering innovative, lowest total life-cost,
flexible material handling solutions. The company is committed to
reducing client's overall business risk and improving their
profitability by providing "World Class" Equipment, Engineering
& Processing solutions for flexible materials to distribution
manufacturing environments. The company offers processing solutions
and complete field service & consulting.
Reel Power Industrial is a division of Reel Power International,
a developer and builder of proprietary equipment for the Marine
& Energy Industry and Industrial Business, owning and operating
more than 200,000 square feet of custom manufacturing
facilities.
For more information, visit
https://reelpower.com/.
About Praesidian Capital
Praesidian Capital is an innovative private equity firm focused
on control investments in private lower middle market businesses in
the United States, specializing in
companies with $2 – $10 million of EBITDA across various industries
including consumer products, business services, niche
manufacturers, family entertainment and healthcare. For more
information, visit www.praesidian.com.
To discuss prospective investment opportunities please
contact:
Jason Drattell, Founder –
jdrattell@praesidian.com, (212) 520-2620
Tom Duffy, Partner –
tduffy@praesidian.com, (212) 520-2617
Media Contact:
Linda Dignelli
212-520-2619
383040@email4pr.com
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SOURCE Praesidian Capital