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Exited Deals
BIW Connector Systems, Inc.
BUSINESS DESCRIPTION: BIW Connector Systems, located in Santa Rosa, California, was acquired from Draka Cabelteq USA in 1997. Its primary business was the manufacture and supply of electrical connectors used to power submersible pumps used world wide in the oil industry. 13i Capital assisted BIW in strategic acquisitions and the development of a cohesive management team. 13i was also deeply involved in assisting the company in weathering a severe downturn in its business as a result of the deterioration of the market for petroleum products (during this period the price for a barrel of oil was as low as $12/barrel). Because of the strength of management developed by 13i, the company weathered the changes in the market place and maintained its position as the market leader in this product category. In 2001, 13i sold BIW to ITT Cannon.
RBM Precision Metal Products, Inc.
BUSINESS DESCRIPTION: RBM, which was headquartered in Colorado Springs, Colorado, was acquired in 1995, The Company was in the metal stamping and plating business. Primary customers were Compaq, Hewlett Packard and other technology hardware manufacturers. RBM's primary products were custom designed and manufactured short run computer storage enclosures. In the late 1990's much of this business was resourced with Pacific Rim manufacturers. The company was closed in 2003.
Garsite/Progress, LLC
BUSINESS DESCRIPTION: In early 2001, 13i led an investment group in the acquisition of a 50% interest in Garsite/Progress, LLC a manufacturer of truck and ground mounted aluminum tanks and aviation refueling systems. The Company, with manufacturing facilities in Kansas City, Kansas, Arthur, Illinois and Finley Ohio is the industry leader in the provision of truck mounted aluminum tanks to the construction industry and municipalities, as well as the manufacture of aviation refueling vehicles in sizes ranging from 5,000 gallons to 20,000 for use by the aviation industry world wide. 13i's experienced management assisted the company in dealing with the effects of the events of September 11th on its business and increasing its market share and overall profitability in all of its product segments over the next several years. In April of 2007 Garsite/ Progress was sold to Walker Manufacturing, a portfolio company of Insight Equity, LLC.
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