FOR IMMEDIATE RELEASE
Falfurrias Capital Partners, ETech Add GGS to Automation Platform
CHARLOTTE, N.C. (October 9, 2018) – Falfurrias Capital Partners, a Charlotte-based private equity firm focused on investing in growth-oriented, middle-market businesses, announced that portfolio company E-Technologies Group (ETech) has closed its acquisition of Glenmount Global Solutions, Inc. (GGS).
The addition of GGS significantly broadens the scale and industry reach of the automation technology and services platform created by Falfurrias earlier this year with its investment in West Chester, Ohio-based ETech, a leading provider of software and automation systems integration and engineering design services. Additional acquisitions are an integral part of the strategy for building out a national platform in the automation space.
GGS, founded in 2003 and based in Austin, Texas, delivers control and automation solutions to both process and discrete manufacturing, as well as municipal and high reliability applications, to improve the efficiency, quality and safety of its customers’ operations. With seven locations across the country, GGS provides broad access to technical delivery teams serving a diverse customer base, including metals, data centers, water and wastewater facilities, and other industries that value technology solutions.
“GGS represents a strong partner for ETech, offering complementary capabilities and bringing with it a strong base of loyal customers that value their long-term relationships with the company,” said Marc Oken, managing partner at Falfurrias Capital Partners. “Uniting ETech’s innovative, team-driven culture and the sales and marketing infrastructure and national footprint of GGS under an outstanding leadership team will benefit not only customers but employees of both firms.”
GGS chief executive Ralph Carter will become CEO of the combined companies, which will continue to operate under their respective brands, and join ETech’s board. Jason Rich, chief financial officer of GGS, will become CFO. ETech founders Steve Veldhuis and Doug Fagaly will remain in leadership roles, with Mr. Veldhuis continuing to drive innovation as chief technology officer and Mr. Fagaly shaping the long-term vision for serving customers’ needs as ETech’s chief strategy officer. Both will continue to serve on the board.
“We are delighted to welcome Ralph, Jason and Glenmount Global Solutions as the first addition to the ETech family,” said Mr. Veldhuis. “The broader geographic reach of GGS and its commercial excellence program will be a game-changer for our customers, and we are eager to bring them the benefits of our combined capabilities, including a more robust R&D effort, new service offerings and the ability to complete larger-scale projects in excess of $20 million.”
“We look forward to working with Steve, Doug and the entire ETech team to combine resources and create additional value for existing and prospective customers of both companies,” said Mr. Carter. “We are especially excited to be able to leverage the strategic and operational expertise and financial resources of Falfurrias Capital Partners as we pursue opportunities to accelerate growth organically as well as through additional acquisitions.”
About Glenmount Global Solutions
GGS, founded in 2003 and based in Austin, Texas, delivers control and automation solutions to both process and discrete manufacturing, as well as municipal and high reliability applications, to improve the efficiency, quality and safety of its customers’ operations. With seven locations across the country, GGS provides broad access to technical delivery teams serving a diverse customer base, including metals, data centers, water and wastewater facilities, and other industries that value technology solutions. To learn more, visit www.glenmountglobal.com.
About E-Technologies Group
ETech is a West Chester, Ohio-based provider of software and automation systems integration founded in 1993 by Steve Veldhuis and Doug Fagaly. The firm provides innovative high value engineering solutions to global manufacturing and logistics fulfillment customers. The firm specializes in automation, information systems, machine safety, machine and process modeling, and simulation across multiple industries utilizing current and emerging technologies. ETech propagates a partnering mentality with its customers, drives a best in class strategy amongst its vendors, and cultivates its high performance staff, whom is dedicated to delivery of measurable business results to meet or exceed customers’ needs. To learn more, visit, www.etech-group.com.
About Falfurrias Capital Partners
Falfurrias Capital Partners is a Charlotte-based private equity investment firm founded in 2006 by Hugh McColl Jr., former chairman and CEO of Bank of America, and Marc Oken, former CFO of Bank of America, and Managing Partner Ed McMahan. The firm is focused on acquiring or investing in a diverse portfolio of growth-oriented middle-market companies. By leveraging the extensive strategic and operational experience and business relationships of the firm’s principals, Falfurrias Capital Partners is positioned to be a value-added partner for both its portfolio companies and its limited partners. For more information, visit www.falfurriascapital.com.
David Coburn, Luquire George Andrews, 704.552.6565 (O), 704.408.4276 (C), firstname.lastname@example.org.