Cashco Acquired by May River Capital for New Growth Platform
Deal News | Nov 13, 2024 | PR Newswire Cision May River Capital, LLC
May River Capital, a Chicago-based private equity firm, has acquired Cashco, a leading provider of pressure management solutions. Cashco, established in 1920 and headquartered in Ellsworth, Kansas, is known for its high-quality flow control products used across a diverse range of industries. Building on Cashco’s strong market presence and product offerings, May River plans significant investment to develop the business further both organically and through mergers and acquisitions. This transaction marks May River's entry into a new flow control solutions platform. Cashco’s president, Clint Rogers, and the current leadership team will remain in their roles, with Rahul Deshmukh assuming the role of CEO and executive chairman. The acquisition aligns with May River's strategy to grow its portfolio in the flow control sector, leveraging its industrial sector experience.
Sectors
- Industrial Manufacturing
- Private Equity
Geography
- United States – Cashco is headquartered in Kansas with operations across the U.S. May River Capital is based in Chicago, making the United States the central geography of this article.
- Germany – Cashco has operations outside Berlin, Germany, highlighting an international aspect of the company’s operations.
Industry
- Industrial Manufacturing – The article discusses the acquisition of Cashco, a company that designs and manufactures industrial flow control products, which places it squarely within the industrial manufacturing industry.
- Private Equity – May River Capital, the acquiring company, is a private equity firm, making this industry relevant to the transaction discussed.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cashco | Target Company | Company | Cashco is a provider of industrial pressure management solutions, recently acquired by May River Capital. |
| May River Capital | Bidding Company | Company | A Chicago-based private equity firm focused on industrial growth businesses that acquired Cashco. |
| Clint Rogers | President | Person | The current president of Cashco who will continue to lead the company post-acquisition. |
| Rahul Deshmukh | CEO and Executive Chairman | Person | May River's operating executive transitioning to CEO and executive chairman of Cashco. |
| Paul Hastings LLP | Legal Advisor | Company | Provided legal counsel to May River Capital for the acquisition. |
| BMO Capital Markets | Financial Advisor | Company | Financial advisor to May River Capital for the deal. |
| Houlihan Lokey | Financial Advisor | Company | Served as financial advisor to Cashco. |
| BMO Harris Bank | Debt Financing Provider | Company | Provided debt financing to support the acquisition by May River Capital. |