CLEVELAND, Dec. 5, 2011 /PRNewswire/ -- JWI Capital, LLC (JWI), a Cleveland, Ohio based investment firm completed a controlling equity investment in Weaver Express Blower Services, LLC ("Weaver Express"). Weaver Express, based in Sugarcreek, OH, is the leading installer and manufacturer of compost-based filter socks and other compost-based products for erosion and sediment control applications.
Weaver's compost-based filter sock products and services primarily focus on eliminating or minimizing sediment run-off from construction sites. Weaver also provides other environmental services such as stream bank restoration, and steep slope stabilization by utilizing "green" bio-engineered technology.
Weaver Express was founded in 2000 by Kevin and Keith Weaver, who have retained an ownership position in the business and will continue to work for the company on a full-time basis. Kevin Weaver stated, "The opportunity to partner with JWI is a very positive for both Weaver Express and our customers. JWI brings more than just capital to the table; they bring a wealth of knowledge with a hands-on operational approach, strategic leadership and financial support. JWI's expertise will enable us to continue growing and expanding the business to serve our customers."
Weaver Express is very active in the entire Marcellus and Utica shale areas, currently operating installation crews from two regional facilities – Sugarcreek, OH, and Burgettstown, PA, along with a distribution center in Lock Haven, PA. Weaver Express also manufactures and distributes pre-filled filter socks on pallets primarily in Pennsylvania, Ohio and West Virginia.
Marc Walinsky, Managing Director of JWI Capital stated, "We were attracted to Weaver Express, first and foremost, by its founders Kevin and Keith Weaver. Kevin and Keith have steadfastly built a great and rapidly growing business by being at the forefront of the filter sock industry by delivering excellent customer service and innovatively fulfilling customer requirements."
Aldine Capital Partners, LP ("Aldine"), a Chicago-based mezzanine debt fund, provided mezzanine capital and an equity co-investment to support the investment and provide additional capital for expansion of the business.
Much of Weaver Express' products are based on technology developed by Filtrexx International, LLC. Weaver Express has been a certified Filtrexx™ installer and manufacturer since 2000 and is the #1 Filtrexx™ team worldwide. In 2010 Weaver installed and manufactured over 150 miles of Filtersoxx™.
Contact Information
Marc Walinsky
Managing Director
JWI Capital, LLC
+1 610 745 7698
[email protected]
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 generates revenues between $2 million and $25 million and EBITDA between $500 thousand and $2 million. Because of JWI's active management approach, platform companies should be located in the Midwest.
About Aldine Capital Fund, L.P.
Aldine Capital Fund, L.P. is a $108 million Chicago-based private equity firm which provides mezzanine and junior capital financing to lower middle-market companies. Aldine typically invests $2-$8 million per transaction and works with private equity sponsors and talented management teams to facilitate growth, support acquisitions/buyouts or provide shareholder liquidity. Aldine's principals have a combined track record of over 50 years of experience investing in middle-market companies.
SOURCE JWI Capital, LLC
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