October 4, 2010 -- Blackstreet Capital has recapped Swisher Mower and Machine Co., a Warrensburg, Mo.-based maker and distributor of lawn & garden power equipment. Chevy Chase, Md.-based Blackstreet is a PE firm. News of the deal was announced by Livingstone, which acted as financial adviser to Swisher.
Livingston is pleased to announce the successful recapitalization of Swisher Mower and Machine Company, Inc. (“Swisher” or the “Company”) by Blackstreet Capital (“Blackstreet”). Livingstone acted as exclusive financial advisor to Swisher. Terms of the deal were not disclosed.
Swisher, based in Warrensburg, Missouri, is a leading manufacturer and distributor of branded lawn & garden power equipment and accessories. The Company’s product portfolio includes zero-turn riding mowers, trailmowers, high wheel string trimmers, log splitters, and ATV attachments. Known for its superior design, materials, components, and construction, Swisher has earned the reputation as a pioneer in the industry having created and developed multiple product categories throughout the Company’s 65 year history. Swisher sells its products through a diversified and expansive network of more than 2,000 retail outlets in the U.S. and Canada.
Livingstone worked with the Company to execute a comprehensive recapitalization process in an efficient time frame. The highly competitive process was a successful outcome for the Company’s employees, shareholders, lenders and other constituents. Livingstone completed the transaction within 90 days of its engagement by the Company.
“We are thrilled to have helped forge a partnership between Swisher and Blackstreet,” said Livingstone Director Joe Greenwood. “The Swisher family and management team are to be commended for successfully navigating challenging market conditions, while positioning the Company to capitalize on several exciting growth opportunities.”
Showing posts with label Swisher Mower and Machine Company. Show all posts
Showing posts with label Swisher Mower and Machine Company. Show all posts
Tuesday, October 5, 2010
Friday, September 3, 2010
Swisher Acquisition Puchases Assets of Swisher Mower & Machine
August 25, 2010 – Swisher Acquisition, Inc. (“SAI”) an affiliate of Blackstreet Capital, a Chevy Chase, MD, private equity firm, announced today that it has purchased the assets of Swisher Mower & Machine Company, Inc.
“We are impressed by Blackstreet’s commitment to excellence and are confident this transition will occur with minimal disruption,” said Swisher’s CEO, Wayne Swisher. “Together, we plan to build on the company’s storied history in ways that benefit employees, customers and suppliers as well as our community.”
“We are very excited to be working with the talented and dedicated team that has made the Swisher family of products amongst the very best in their industry; this is an exciting addition to our portfolio,” said Aldus H. Chapin II, Managing Director of Blackstreet Capital, and Chairman of SAI.
SAI manufactures a variety of lawn and garden power equipment including zero-turn riding mowers, ATV mowers, log splitters and high wheel string trimmer mowers and a wide range of lawn tractor and ATV attachments. Swisher is the leading brand name in ATV accessories and maintains a prominent position in the lawn and garden equipment industry. SAI will distribute products to over 2000 outlets worldwide from its Warrensburg facility.
As the proud manufacturer of the Swisher branded products, SAI intends to continue as an employer in the community by maintaining its headquarters and primary manufacturing facility in Warrensburg.
About Blackstreet Capital
Blackstreet Capital (www.blackstreetcapital.com) is a Chevy Chase, MD based private equity firm with over $200 million of capital under management. Blackstreet focuses on control buyouts of companies that are either underperforming, in out-of-favor industries, or are undergoing some form of transition. Blackstreet seeks investments in a range of industries, including manufacturing/distribution, restaurants, specialty retail, business services, and health care.
About Swisher Mower And Machine Company, Inc.
Swisher Mower and Machine, founded in 1945 and based in Warrensburg, MO produces specialty lawn and garden equipment and ATV/UTV accessories ranging from tillers to mowers and lawn vacs to its patented QuickSwitchTM hitch for ATV/UTVs.
“We are impressed by Blackstreet’s commitment to excellence and are confident this transition will occur with minimal disruption,” said Swisher’s CEO, Wayne Swisher. “Together, we plan to build on the company’s storied history in ways that benefit employees, customers and suppliers as well as our community.”
“We are very excited to be working with the talented and dedicated team that has made the Swisher family of products amongst the very best in their industry; this is an exciting addition to our portfolio,” said Aldus H. Chapin II, Managing Director of Blackstreet Capital, and Chairman of SAI.
SAI manufactures a variety of lawn and garden power equipment including zero-turn riding mowers, ATV mowers, log splitters and high wheel string trimmer mowers and a wide range of lawn tractor and ATV attachments. Swisher is the leading brand name in ATV accessories and maintains a prominent position in the lawn and garden equipment industry. SAI will distribute products to over 2000 outlets worldwide from its Warrensburg facility.
As the proud manufacturer of the Swisher branded products, SAI intends to continue as an employer in the community by maintaining its headquarters and primary manufacturing facility in Warrensburg.
About Blackstreet Capital
Blackstreet Capital (www.blackstreetcapital.com) is a Chevy Chase, MD based private equity firm with over $200 million of capital under management. Blackstreet focuses on control buyouts of companies that are either underperforming, in out-of-favor industries, or are undergoing some form of transition. Blackstreet seeks investments in a range of industries, including manufacturing/distribution, restaurants, specialty retail, business services, and health care.
About Swisher Mower And Machine Company, Inc.
Swisher Mower and Machine, founded in 1945 and based in Warrensburg, MO produces specialty lawn and garden equipment and ATV/UTV accessories ranging from tillers to mowers and lawn vacs to its patented QuickSwitchTM hitch for ATV/UTVs.
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