ROWAYTON, Conn., July 22, 2021 (GLOBE NEWSWIRE) -- Eaton Partners (“Eaton”), one of the largest placement agents and financial advisory firms and a wholly-owned subsidiary of Stifel Financial Corp. (NYSE: SF), is pleased to announce that it has acted as exclusive financial advisor and placement agent for Allied Industrial Partners LLC (“AIP”), an industrial focused private equity firm based in Houston, Texas. Eaton worked together with AIP to raise capital from a group of limited partners to acquire a controlling interest in CAT Entertainment Services which has been rebranded as CES Power (“CES Power”).
AIP was founded in 2019 by a group of seasoned operating executives and investment professionals led by Bradford Rossi and Philip Wright. The team’s strategy focuses on partnering with family and founder-owned businesses and corporate carve-outs of divisions that have consistent cash flow generation and defensible market positions that would benefit from additional operational expertise.
Based in Northern Florida, and now headquartered in Memphis, Tennessee, CES Power was founded in 2000 as a division of Ring Power Corporation, one of the largest Caterpillar dealers in the United States. CES Power is a premier provider of power generation, power distribution, HVAC/temperature control, and portable access services to the entertainment industry (broadcasting, festivals, concerts, and premier sporting events).
“The Eaton team is honored to have advised AIP through the capital raise process and to have assisted AIP with this transformative investment,” said Peter Martenson, Partner at Eaton Partners. “AIP is well positioned and our firm is pleased to have partnered with Brad and Philip on this opportunity. On behalf of everyone at Eaton, congratulations to AIP on this tremendous outcome.”
“CES Power represents a compelling opportunity to invest in the market leader of distributed power services in the entertainment space, and the timing could not be better as demand for live events and complex mobile power needs increases,” said Bradford Rossi, Co-Founder and Managing Partner at AIP. “We were attracted by the company’s team-oriented culture, track record, and reputation for high-quality service, and look forward to working closely with Greg Landa and the talented employee base as we pursue next level growth.”
“We were very impressed with the company’s ability to weather the pandemic and are excited about the opportunities for future organic expansion and add-on acquisitions,” said Philip Wright, Co-Founder and Managing Partner at AIP. “The CES Power team’s technical capabilities and versatility are unparalleled in the industry, and provide numerous growth opportunities.”
Kirkland & Ellis LLP acted as fund counsel.
In addition to advising on and executing GP-led secondary transactions, Eaton’s GP Advisory, Secondaries & Directs group focuses on supporting GPs through its direct capital raise services. Over the last two years, Eaton has advised GPs and companies on more than $2 billion of secondary and direct investment transactions.
About Eaton Partners
Eaton Partners, a Stifel Company, is one of the world’s leading fund advisory and capital placement agents, having raised more than $114 billion across more than 160 highly differentiated alternative investment funds and offerings. Founded in 1983, Eaton advises and raises institutional capital for investment managers across alternative strategies – private equity, private credit, real assets, real estate, and hedge funds/public market – in both the primary and secondary private fund markets. Eaton Partners maintains offices and operates throughout North America, Europe and Asia.
Eaton Partners is a division of Stifel, Nicolaus & Company, Incorporated, Member SIPC and NYSE. Eaton Partners subsidiary Eaton Partners (U.K.) LLP is authorized and regulated by the Financial Conduct Authority (FCA). Eaton Partners subsidiary Stifel Hong Kong Limited, doing business as Eaton Partners Hong Kong, is approved as a Type 1-licensed company under the Securities and Futures Commission (SFC) in Hong Kong. Eaton Partners and the Eaton Partners logo are trademarks of Eaton Partners, LLC, a limited liability company. ® Eaton Partners, 2021. For more information, please visit https://eaton-partners.com/.
About Allied Industrial Partners
Founded in 2019, Allied Industrial Partners LLC (“AIP”) is a lower and middle market private equity firm that thematically invests in high-growth companies within various industrial subsectors, including industrial rentals, manufacturing, distribution, environmental services and critical infrastructure. AIP seeks to partner with experienced management teams that can benefit from its operational enhancement capabilities and its active, hands-on involvement, which allows the firm to execute on buy and build strategies. For more information, visit www.alliedindustrialpartners.com.
About CES Power
Founded in 2000 and headquartered in Memphis, TN, CES Power LLC has a multi-decade track record of providing reliable and safe power solutions to its blue-chip customer base, including at the world’s most complex and highest profile events. The Company offers a full range of technology driven power services to the broadcasting, entertainment, and industrial sectors. For more information, visit www.cespower.com.
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Stifel Independent Advisors, LLC. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.
Neil Shapiro, +1 (212) 271-3447
Jeff Preis, +1 (212) 271-3749