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  Hamilton Robinson Capital Partners Delivers Clean Results With MEGTEC Sale

June 20, 2014 - Stamford, CT

Hamilton Robinson Capital Partners (HRCP) announced today that it has sold portfolio company MEGTEC to the Babcock & Wilcox Power Generation Group, Inc. The deal, based on an enterprise value of $155 million and subject to adjustments, represents a 3x multiple on HRCP and LP co-investors' original $36 million investment.

"The sale of MEGTEC marks the end of another successful investment for HRCP," said Phillip Cagnassola, Partner. "Over the course of six years, we transformed a company that was heavily focused on printing and saddled with an inflexible cost structure into a leading provider of air pollution control and environmental solutions. Hamilton Robinson's value creation strategy centered on strong cultural and economic alignment with the management team as well as the successful integration of two add-on acquisitions resulting in substantial margin improvement and a strong growth outlook."

With the continued renaissance of US-based industrial companies, Mr. Cagnassola noted, "the advantage of highly-technical US industrial companies over the rest of the world is clear when they are supported by experienced shareholders and capable managers. Hamilton Robinson has been committed to realizing the promise in this sector for more than 30 years."

William Blair & Company, LLC and Stephens, Inc. acted as financial advisors to MEGTEC Holdings, Inc. on the transaction. Baker & McKenzie LLP provided legal counsel.

Hamilton Robinson Capital Partners was founded in 1984 to invest directly in small, privately held manufacturing, distribution and service businesses. The firm has maintained its singular focus on this dynamic market to become a valued resource for equity capital and growth strategies for small businesses. Based in Stamford, CT, the firm has completed over $1.3 billion in transactions supporting 40 companies. Investors include leading financial institutions, funds, family offices, and individuals in the United States and Europe. For more information visit www.hrco.com.

MEGTEC, based in De Pere, Wis., designs, engineers, manufactures and services sophisticated air pollution control systems and coating/drying equipment. MEGTEC's technologies provide a range of sustainability-focused benefits, including pollution abatement, carbon management, energy storage and recovery, and environmental compliance. In addition to the United States, the company has operations in Canada, France, Italy, Sweden, Germany, the United Kingdom, China, India and Australia, and maintains a worldwide service and replacement parts support network. MEGTEC employs approximately 600 people in 10 countries. For more information visit www.megtec.com.

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