WAUKEGAN, Ill., Nov. 20, 2015 /PRNewswire/ -- United Generations, LLC, a privately held, family holding company who invests in highly-engineered, mission-critical product and services-based businesses, today announced the acquisition of the Pangborn Group, a leading designer, manufacturer and supplier of innovative surface preparation equipment and related aftermarket parts and services from Atlas Holdings, LLC. Terms of the transaction were not disclosed.
"Pangborn has the history, market recognition, engineering expertise, and passionate associates engaged in building high-quality equipment and providing responsive service for their customers. These valuable characteristics match very closely to the characteristics we have learned and developed over many decades in our operating businesses," says Doug Basler, Chairman of United Generations, LLC. "We are confident we can, with the active partnership of Pangborn's talented and committed management and employees, build upon an already successful company."
Headquartered in Fairburn, Georgia, Pangborn employs over 250 people at nine strategically located facilities around the world. Pangborn provides complete solutions throughout the lifecycle of surface preparation equipment, including initial design and installation, reliable aftermarket rebuilds and service, and timely delivery of high quality replacement parts. Its three core brands – Pangborn, Berger Strahltechnik ("Berger") and Vogel & Schemmann ("V+S"), enjoy a rich history, dating back over 140 years. They are recognized globally as innovators and leaders within the shot blasting and peening industry.
All Pangborn locations will remain in operation and the company headquarters will continue to be located in Fairburn, Georgia, led by its current management team, including Chief Executive Officer, Joe Camerata.
McNally Capital acted as financial advisor to United Generations in support of this transaction; advisory services included transaction sourcing, due diligence, and structuring.
About the Pangborn Group
The Pangborn Group designs, manufactures and services shot blast and surface preparation machines and related products for a range of industries, including foundry and forge, metalworking and descaling, automotive and heavy truck, ship and rail, defense, and energy. The company has led the way in all aspects of the surface preparation industry with unique designs, heavy-duty applications, and best-in-class service and support. Pangborn is headquartered in Fairburn, Georgia, USA with global offices in Germany, Italy, China and the United Kingdom. For more information, please visit www.pangborngroup.com.
About United Generations, LLC
United Generations, LLC (UG) headquartered in Waukegan, Illinois is a privately held, family holding company formed to make long-term investments in highly-engineered, mission-critical product and services-based businesses. UG looks for strong management to partner with in successful businesses. The management of UG differentiates itself from financial buyers by taking an operating approach to owning businesses coupled with a long-term view. For more information, please visit: www.unitedgenerations.com.
About McNally Capital
McNally Capital is a Chicago-based merchant bank that partners with family offices and high net worth investors to make direct private equity investments. It focuses its efforts on investments in private companies where it can provide strategic value beyond capital. The firm maintains a network of more than 700 family offices in the United States and abroad with whom the firm partners in making direct private equity investments. For more information, please visit: www.mcnallycapital.com.
SOURCE United Generations, LLC