PORTLAND, Ore., Dec. 1, 2011 /PRNewswire/ -- Riverlake Partners, LLC (www.riverlakepartners.com), a Portland-based private equity group focused on the lower middle market, today announced it has led a growth investment into Omega Morgan, Inc. (www.omegamorgan.com), which has headquarters in the Portland area. Riverlake will be joined by other investors including Columbia Investments Ltd., which is managed by Portland investor Peter Stott.
Omega Morgan is one of the largest heavy equipment moving and industrial services companies on the West Coast. The investment is being made through Riverlake's second fund, Riverlake Equity Partners II, LP.
During the past five years, Omega Morgan has experienced the most significant growth in its 20-year history. This success has led its principals to seek financing to purchase cost-intensive equipment, to upgrade information technology and add experienced management professionals to help guide the company as it expands into new markets.
Jeff Morgan, the company's current president, said the first executive to join the company is former Warn Industries CEO John McCalla, who takes over as CEO of Omega Morgan. Morgan will transition to a vice president's role, allowing him to remain active in the company doing what he enjoys most in operations, sales and project management.
Omega Morgan, which has completed projects in 26 countries, has plans to expand into the Phoenix area and British Columbia, Canada. "The opportunities for us in Canada are tremendous," Morgan said. "Because of growth in the energy sector, we are in a prime position to provide rigging and transport services for some very large projects."
Erik Krieger, Riverlake Partners' founder and managing partner, said, "We are really excited about our partnership with Omega Morgan. This is exactly the type of high-quality organization we target for investment. Omega Morgan's market-leading reputation as creative, safe, reliable and client-focused, makes it a perfect platform for growth. We have been impressed with the company's progress in developing and executing on its business plan and look forward to helping them reach their goals."
McCalla echoed Krieger's enthusiasm, stating that he looks forward to working with Omega Morgan's managers and more than 300 employees to achieve even greater growth goals.
"Rarely does one find an opportunity as compelling as Omega Morgan. Through a culture focused on attention to detail and exceeding customer expectations, the company is a perfect place to grow a world-class organization. I am excited about our prospects," said McCalla. Prior to holding several leadership positions with Warn Industries for 17 years, McCalla worked with General Motors.
Omega Morgan (www.omegamorgan.com) was founded in 1991 by the Morgan family. The company has grown from a local enterprise to one that offers national and international services for specialized heavy rigging and transportation, machinery moving, crating and packaging, industrial construction and process equipment moves in a clean room environment. The company has received top awards in its field as a preferred supplier and by winning Intel's Platinum designation for its Safety Assessment Program. For more information call 503-647-7474 (Portland, Ore.) or 253-852-7500 (Seattle).
Riverlake Partners, LLC (www.riverlakepartners.com) is a private equity firm focused on leveraged growth investments in smaller, profitable companies within the consumer and industrial products manufacturing and business service industries. Founded in 2003, it has two funds and typically targets companies with enterprise values of $20 to $60 million, and partners with existing management teams to develop and execute on long-term growth strategies. Past and current portfolio companies include Stock Equipment Company, Pinnacle Exhibits, SP Industries, RPI, Inc., and Advanced Decorative Systems. Corporate headquarters are located in Portland, Ore. For more information call 503-228-7100.
SOURCE Omega Morgan