JWI Capital Completes Acquisition of WH Smith Hardware

CLEVELAND, April 22 /PRNewswire/ -- JWI Capital, LLC (JWI), a Cleveland, Ohio based investment firm, completed the acquisition of The WH Smith Hardware Company (WH Smith).  WH Smith assembles and fabricates fluid handling equipment and load securing and material handling hardware, primarily for military applications.

WH Smith's current line of products include, hose, manifold, valve,  pump and nozzle assemblies used in fluid handling applications and shackles, chains, hooks, load binders and cargo-tie downs for load securing and material handling applications.  WH Smith provides value added services including assembly, light fabrication, painting and testing.  All finished products are produced according to strict military specifications.

Mark Jantzen, JWI Managing Director, commented, "As a graduate of the US Naval Academy and military veteran, I am excited to continue WH Smith's tradition of providing high quality products that support our troops.  My partners and I will bring new energy to WH Smith to capitalize on its excellent reputation.  We will focus on expanding product offerings to government agencies and by offering our products to the commercial markets.  We also intend for WH Smith to be a platform to acquire other defense related businesses."

WH Smith, based in Parkersburg, West Virginia, has a proud legacy, dating back more than 135 years to its founding in 1874.  Vint Rathbone, the current owner and CEO of WH Smith, stated, "I am proud of the accomplishments achieved by WH Smith under my ownership during the last 35 years.  In selling the business it was important to find a management group with the skill, excitement and capital necessary to move this business forward.  I am confident JWI can guide WH Smith into a new era of growth."  

The principals of JWI will assume active roles in the daily management of WH Smith.  Vint Rathbone will serve as a consultant to the new management team for a transitional period.  

About JWI Capital, LLC (www.jwicapital.com)

JWI Capital, LLC, based in Cleveland, Ohio, invests in and actively manages microcap companies.  JWI takes an operationally focused approach to grow the EBITDA and cash flow of its investments.  The experience of JWI's principals enables JWI to address a significant gap faced by microcap companies --- particularly financial resources and managerial capability.  

JWI invests in engineered products, metals and materials, and process based manufacturing companies that serve the business-to-business market.  JWI specializes in the defense, aerospace, energy, infrastructure, transportation and general industrial industries.  JWI also invests in related outsourced business services or distribution companies that serve those targeted industries.

JWI's ideal investment will have revenue between $2 million and $25 million and EBITDA between $300 thousand and $2 million.  Because of JWI's active management approach, platform companies should be located in the Midwest.  JWI will look outside the Midwest for add-on acquisitions.

SOURCE JWI Capital, LLC