BIRMINGHAM, Mich., Feb. 13, 2013 /PRNewswire/ -- Quarton Partners is pleased to announce that BB&T Capital Partners has sold Cline Acquisition Corp. ("Cline") to Rexnord Corporation (NYSE : RXN ). Cline is a provider of aftermarket power transmission parts and services to the pulp and paper, steel and other end markets. Cline's full service aftermarket capabilities include inspection and repair, rebuild, predictive and preventative maintenance and other on-site technical field services. Quarton Partners acted as the exclusive financial advisor to Cline in this transaction.
Bob Buchanan, President and CEO of Cline, commented on the sale, "Quarton Partners ran a high quality process under a demanding timeline. With Quarton Partners' knowledge of the power transmission sector they were able to deliver several strategic buyers to the table which ultimately allowed us to choose a strategic partner that shares our vision for growing the business and dedication to world-class customer service."
Cline (www.theclineco.com) is a high quality provider of aftermarket power transmission services to the pulp and paper, steel and other end markets. Cline specializes in providing full-service power transmission solutions and has a high degree of technical expertise for mission critical industrial drive shafts, clutches and brakes that are used in production equipment. Cline is based in Taylors, South Carolina.
BB&T Capital Partners (www.bbtcp.com) is a private equity firm located in Winston-Salem, North Carolina. BB&T is an investment arm of BB&T Corporation and principally targets companies in business, government, healthcare and industrial services, niche manufacturing, value-added distribution and education.
Rexnord (www.rexnord.com) is a global industrial manufacturer comprised of two strategic platforms, Process & Motion Control and Water Management, with approximately 7,300 employees worldwide. The Process & Motion Control platform designs, manufactures, markets and services specified, highly-engineered mechanical components used within complex systems. The Water Management platform designs, procures, manufactures and markets products that provide and enhance water quality, safety, flow control and conservation. Rexnord is headquartered in Milwaukee, Wisconsin.
ABOUT QUARTON PARTNERS
Quarton Partners (www.quartonpartners.com), headquartered in Birmingham, Michigan, is a premier middle market investment banking firm, serving privately held and publicly traded companies, as well as private equity firms. Quarton Partners assists its clients with mergers and acquisitions, private capital raising, restructurings, valuations and other financial advisory services. Its principals have successfully completed hundreds of engagements in a variety of industries across the U.S. and throughout the world. Quarton Partners is an affiliate of Spearhead Capital, LLC.
SOURCE Quarton Partners