ClearLight Partners Announces TASI Recapitalization
Newport Beach, CA (May 31, 2007) ClearLight Partners announced today that it has completed a
recapitalization of Cleves, Ohio-based TASI Holdings, Inc. along with
Black Canyon Capital. As part of the transaction,
Industrial Growth Partners, the former majority shareholder, and TASI
management will continue to have an equity stake in the
Company. ClearLight Partners and Black Canyon provided both
equity and mezzanine financing in the transaction, while GE Antares
provided senior financing.
TASI, based outside of Cincinnati, Ohio, is a
leading provider of highly engineered test and measurement
instruments and integrated systems, with diverse product platforms
serving a broad range of end markets. TASI provides leak
detection and assembly verification instruments and systems,
automated assembly and test systems, and flowmeters and flow control
products. “We are pleased to have ClearLight and Black Canyon
as our new financial partners and look forward to working with them
to build significant value through internal growth initiatives and
add-on acquisitions,” said David Huberfield, President and CEO
of TASI Holdings, Inc. “We also feel fortunate to be able
to continue an association with Industrial Growth Partners,” Huberfield added.
TASI companies utilize their experience, depth in
application, innovative electronics software and unique
communications capability to develop products and solutions that
enable its customers to efficiently manufacture high quality
products. This ensures TASI solutions exceed customer
expectations and provide mission critical performance.
Michael S. Kaye, Managing Partner at ClearLight,
stated, “We are delighted to have the opportunity to back David
Huberfield and his strong management team at TASI. We’re
also excited to partner once again with Black Canyon, and to have
Industrial Growth Partners continuing on as investors in TASI."
The ClearLight deal team was led by Lawrence W.
Ward, Jr. and Jay F. Shepherd.
About ClearLight Partners
ClearLight Partners is a private equity firm
based in Newport Beach, California with $600 million under
management. ClearLight invests in market-leading growth
companies with $5 million to $25 million of EBITDA. ClearLight
typically makes investments of $10-50 million. ClearLight seeks
to partner with strong management teams who have a track record of
building successful companies within their industry, and have the
vision to build a market leader. Principals of ClearLight were
previously operating executives of successful growth companies in the
business services, consumer, and specialty manufacturing sectors that
reached $100-300 million in revenues prior to achieving successful
liquidity events. Founded in 2000 with a broad investment
charter and a uniquely patient capital base, ClearLight works closely
with its portfolio of successful middle-market growth companies and
is actively seeking additional investment opportunities across the
U.S. in a wide variety of industries, including education and
training, specialty manufacturing, consumer, healthcare and business
services, including specifically security services and outsourcing.
ClearLight Partners, LLC
100 Bayview Circle, Suite 5000
Newport Beach, CA 92660 www.clearlightpartners.com
Jay F. Shepherd
949.725.6624
Lawrence W. Ward, Jr.
949.725.6642
About TASI
TASI is the leading manufacturer of highly-engineered leak and test measurement equipment designed to enhance
manufacturing efficiency in the automotive, plastics, industrial and
pharmaceutical end markets. TASI also supplies automated test and
assembly systems and flow meters and flow control products.
TASI Holdings, Inc.
5551 Dry Fork Road
Cleves, OH 45002
513.202.5182 www.tasigroup.com
100 Bayview Circle, Suite 5000 | Newport Beach, CA 92660
| © 2007 ClearLight Partners, LLC.