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January 31, 2005 - Orlando, FL. AP Capital Partners
announced today that it has successfully completed the asset
purchase of RMT Woodworth, Inc. (www.woodworthheattreating.com)
from The Woodworth Group, a leading industrial heat treating
firm.
“RMT is uniquely positioned to capitalize on the trend
among many automotive OEM’s and large Tier I metal suppliers
to outsource non-core functions such as commercial heat-treating”
explains Frantz Alphonse, Co-Founder and Managing Partner
of AP Capital Partners. “We are extremely impressed
with the management team and customer base at RMT and I am
looking forward to actively working with them to continue
this impressive growth.”
RMT Woodworth is a nationally recognized leader in high
volume commercial heat treating of metals for the automotive
and other industries and is capable of continuous gas precision
carburizing. Superior equipment design and plant layout lead
to cost-effective yet best-in-class service within its niche
to a committed, growing customer base of Fortune 1000 automobile
manufacturers and top tier OEM’s. “RMT has a great
foothold in the automotive industry with excellent opportunities
for continued growth right there in Michigan” explains
Richard Powell, Co-Founder and Managing Partner of AP Capital
Partners.
“Over RMT’s history, we have established strong
relationships with our customers,” says Terry Woodworth,
CEO of RMT Woodworth. “With the resources and relationships
from APCP and its partners, we are now poised for tremendous
growth since we will be able to add the capacity necessary
to service contracts we previously had to turn down.”
AP Capital Partners reports that both seller and management
hold meaningful ownership in the enterprise. The firm partnered
with Comerica Bank and Landmark Growth Capital Partners for
the senior and mezzanine financing.
About AP Capital Partners
AP Capital Partners is a private equity firm that undertakes
long-term assignments in exceptional enterprises. The firm's goals
are to dramatically improve financial performance, deliver
best-in-class products and services, and create environments
for employees. APCP delivers strong
relationships, a true partnership approach and effective execution
to outstanding middle-market enterprises.The APCP team currently includes highly successful
financiers, institutional investors, and entrepreneurs from
firms such as Bear Stearns, Merrill Lynch,
Citigroup, Weston Presidio, Fidelity Investments, AIC Ltd.,
Microsoft, Ford, GE and others. For additional information,
please visit www.apcpartners.com
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