Cashco Acquired by May River Capital, Marking New Investment Chapter
Deal News | Nov 13, 2024 | PR Newswire Cision May River Capital, LLC
May River Capital, a Midwest-based private equity firm focusing on industrial sector growth, has acquired Cashco, a well-established provider of high-tech pressure management solutions. Cashco supplies a wide range of industries, including industrial gases, specialty chemicals, pharmaceuticals, and petrochemicals, with precision and reliable flow control products. The acquisition marks May River’s first investment in a new flow control solutions platform. Cashco, founded in 1920 and headquartered in Kansas, is recognized for its extensive product quality and excellent after-sales service. Clint Rogers, President of Cashco, and the existing management team will remain in their roles. Rahul Deshmukh, COO of May River, will become General Manager and Executive Chairman of Cashco, emphasizing plans for significant organic growth and potential mergers and acquisitions. The deal further consolidates May River's strategy, representing its fourth platform in flow control solutions. Advisers for the acquisition included Paul Hastings LLP and BMO Capital Markets for May River and Houlihan Lokey for Cashco.
Sectors
- Industrial Manufacturing
- Private Equity
Geography
- United States – Headquarters of Cashco are in Kansas, and May River Capital is based in Chicago, highlighting the U.S. focus of the acquisition.
- Germany – Cashco has operations outside of Berlin, indicating its international footprint and relevance of the German market.
Industry
- Industrial Manufacturing – Cashco, as a provider of industrial pressure management and flow control products, operates within the industrial manufacturing sector.
- Private Equity – May River Capital is a private equity firm engaging in industrial sector investments and strategic acquisitions.
Financials
- Not Disclosed – The financial terms of the acquisition have not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cashco | Target Company | Company | A long-established provider of flow control products headquartered in Kansas. |
| May River Capital | Bidding Company | Company | A private equity firm focused on industrial sector investments based in Chicago. |
| Clint Rogers | President of Cashco | Person | Leads Cashco and will continue in his role post-acquisition. |
| Rahul Deshmukh | COO of May River and Executive Chairman of Cashco | Person | Will take on leadership roles at Cashco to facilitate growth. |
| Paul Hastings LLP | Legal Advisor | Company | Provided legal advisory services to May River Capital. |
| BMO Capital Markets | Financial Advisor | Company | Served as financial advisor to May River Capital. |
| Houlihan Lokey | Financial Advisor | Company | Financial advisor to Cashco during the acquisition. |
| BMO Harris Bank | Debt Provider | Company | Provided debt financing to support the Cashco acquisition. |