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SOURCE: Leopold Ketel & Partners
Riverlake Partners will provide the capital and management assistance needed to keep SemiTorr on its growth track.
Portland, OR (PRWEB) October 05, 2012
Riverlake Partners, LLC (http://www.riverlakepartners.com) a Portland-based private equity group focused on the lower middle market, today announced that it has led an investment in SemiTorr Group, Inc. (http://www.semitorrinc.com), which has headquarters in the Portland, area.
SemiTorr is a leading specialty distributor of high purity flow control systems and components used to transport natural gases and chemicals in manufacturing processes of the semiconductor, micro-electronics, solar, data storage, life sciences and other industries.
According to both companies, the investment represents a controlling interest for Riverlake Partners, which will provide the capital and management assistance needed to keep SemiTorr on its growth track.
Over the last several years, SemiTorr has experienced significant organic growth by building a highly effective sales team that brings significant technical know-how to its customers’ sophisticated and demanding applications. SemiTorr now seeks to expand by extending the product lines it offers its customers, further geographic expansion and entering new end markets with similarly sophisticated high performance requirements.
Mike Frank, the company’s current president, will continue as SemiTorr’s president and chief executive. “We believe the opportunities for growth are tremendous,” Frank said, “and we believe Riverlake represents the ideal partner in terms of bringing both financial resources and the operational expertise to take SemiTorr to the next level.”
Vic Petroff, Riverlake Partners’ managing partner, said, “We are enthusiastic about our partnership with SemiTorr. SemiTorr represents the type of high-quality organization we target for investment. Mike and his team have a market-leading reputation, serving as a trusted technical resource to their customers and offering best-in-class products and solutions. We have been impressed with the company’s track record and look forward to assisting them going forward.”
SemiTorr Group, Inc. (http://www.semitorrinc.com) was founded in 1988. Originally serving the Pacific Northwest, SemiTorr expanded to support a wide array of markets throughout the western United States. With a focus on semiconductor, micro-electronics, solar, data storage, life sciences and other related markets, SemiTorr has three distribution centers in Livermore, Calif., Chandler, Ariz., and Tualatin, Ore. For more information, call 503-682-7052 (Portland, Ore.).
Riverlake Partners, LLC (http://www.riverlakepartners.com) is a private equity firm focused on leveraged growth investments in smaller, profitable companies within the consumer and industrial products manufacturing and business service industries. Founded in 2003, it has two funds and typically targets companies with enterprise values of $20 to $60 million, and partners with existing management teams to develop and execute on long-term growth strategies. Past and current portfolio companies include Stock Equipment Company, Pinnacle Exhibits, SP Industries, RPI, Inc., and Advanced Decorative Systems. Corporate headquarters are located in Portland, Ore. For more information call 503-228-7100.
CONTACT: Olga Haley for SemiTorr Group and Riverlake Partners
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