Weinberg Capital Group Announces Acquisition of Pinson Valley Heat Treating
Weinberg Capital Group (“WCG”) is pleased to announce its acquisition of Pinson Valley Heat Treating. (“PVHT” or the “Company”), a five-decade-plus-old specialty heat-treating company that serves the aerospace and defense, industrial, and automotive end markets.
“We are excited to partner with Don Hendry, Benny Grissom, and their talented team,” said Chip Weinberg, Managing Partner at WCG. “Pinson Valley has a long history of success, and we are committed to building on that legacy by investing in its continued growth while preserving the company’s strong reputation for quality, customer service, and on-time delivery.”
Post close, Both Benny and Don will be investors in the Company and continue in their current roles. Together they commented on the transaction: “We are excited to join forces with WCG as we enter the next phase of growth. Their expertise and resources will strengthen our ability to serve our customers and expand our business. Most importantly, this transition will be seamless for our customers and partners, as our entire team will remain in place to drive future success.”
Weinberg Capital Group is actively seeking add-on acquisitions for PVHT, particularly companies offering complementary thermal-processing capabilities, geographic coverage, or value-added metallurgical services.
About Pinson Valley Heat Treating
Founded in 1970, T.A. Parker and his wife, Elinor, started Pinson Valley Heat Treating using T.A.’s 36 years of experience at Chicago Bridge and Iron Co.; the Company began with one furnace, primarily doing stress relief of welded products, but today offers vacuum heat-treating, atmospheric quenching, and an array of other heat-treatment services.
Transaction Advisors
Legal: Benesch, Friedlander, Coplan & Aronoff LLP
Accounting & Tax Diligence: Citrin Cooperman
Debt Financing: Candlewood Partners
Weinberg Capital Group Announces Acquisition of Gavitt Wire & Cable Co.
Weinberg Capital Group (“WCG”) is pleased to announce its acquisition of Gavitt Wire & Cable Co. (“Gavitt” or the “Company”), a century-old wire and cable manufacturer serving the aviation, military, industrial, sports & entertainment, and medical end markets.
“We are excited to partner with Ray Chesson, Tom Baker, and their talented team,” said Chip Weinberg, Managing Partner at WCG. “Gavitt has a long history of success, and we are committed to building on that legacy by investing in its continued growth while preserving the company’s strong reputation for quality, customer service, and on-time delivery.”
Post close, Ray Chesson will continue as President of the Company and Tom Baker will continue in his position as Vice President of Sales. Together they commented on the transaction: “We are thrilled to join forces with WCG as we enter the next phase of growth. Their expertise and resources will strengthen our ability to serve our customers and expand our business. Most importantly, this transition will be seamless for our customers and partners, as our entire team will remain in place to drive future success.”
Weinberg Capital Group is actively seeking add-on acquisitions for Gavitt.
About Gavitt Wire & Cable Co.
Founded in 1923 and headquartered in central Massachusetts, Gavitt Wire & Cable Co. specializes in the design and manufacture of highly engineered, custom wire and cable products. Gavitt serves industries with demanding specifications, ensuring products meet rigorous physical and environmental testing. The company focuses on custom-built solutions—an important distinction that reduces competition and fosters long-standing customer relationships.
Ronna McDaniel, Former Head of RNC, Joins Weinberg Capital Group Board of Strategic Advisors
Weinberg Capital Group announced today that Ronna McDaniel has joined its Board of Strategic Advisors. McDaniel is the former Chairwoman of the RNC which she led for 7 years.
In her capacity as a member of the Board of Strategic Advisors, she will join other business leaders in advising WCG in its private equity business. “She brings enormous capacity to help our overall business and in particular our portfolio companies,” said Chip Weinberg the Managing Partner of WCG. “As we build the boards of our companies and develop relationships within the markets our companies serve, Ronna will be of value to them as well.”
Commenting on the appointment, McDaniel said, “I look forward to working with the team at WCG and their portfolio companies. While I have been running political organizations in the past, I look forward to applying my organizational and building skills to businesses. My grandfather George Romney was an automobile executive as well as Governor of Michigan, and pulling a page from my legacy will be exciting.”
Weinberg Capital Group is based in Cleveland OH and functions as a private equity sponsor of businesses nationwide in a variety of industries. Its portfolio companies operate overseas as well. Its strategic advisory board consists of a range of executives spanning a number of industries. Selected companies in its portfolio include Drake Waterfowl, Channel Products, and Salt River Aviation.
Sam Heredos Joins Weinberg Capital Group
Weinberg Capital Group, a Cleveland-based private equity firm focused on well-positioned lower middle market businesses, welcomes Vice President Sam Heredos, CPA to their family office team. Sam, a former Senior Manager of BDO USA has a background in providing M&A transaction advisory services to an array of industries. He has a BA from Walsh University and was on the NCAA D-II Golf Team.
Weinberg Capital Group Announces Recapitalization of Salt River Aviation
CLEVELAND, Dec. 20, 2023 /PRNewswire/ — Weinberg Capital Group (“WCG”) is pleased to announce the acquisition of Salt River Aviation (“SRA” or the “Company”), a niche provider of Auxiliary Power Units (“APU”), APU teardown and disassembly services, APU subcomponents, and other airframe parts and components. Based in Chandler AZ, SRA is known across the industry as “APU experts”, providing the highest quality APU’s & APU Subcomponents.
“We look forward to partnering with Greg and Annie Crill and their talented team,” stated Chip Weinberg, Managing Partner at WCG. “The Company has a strong track record of success, and we intend to continue this tradition by investing in continued growth while maintaining its reputation for customer service and delivery.”
Commenting on the transaction, Mr. Crill, who will be continuing as CEO, stated, “We are very excited and proud to have the opportunity to partner with WCG to continue our growth plans. With their experience and resources, we anticipate a long-lasting partnership. More importantly, from the perspective of our customers and partners, this transaction will be seamless as our entire team will stay in place as we look to enhance our business.”
WCG is actively seeking add-ons for SRA.
About Salt River Aviation
Founded in 2006, the Company is known throughout the industry as an APU expert, acting as a holistic supplier of APUs, components, and related services to the entire aviation ecosystem including maintenance, repair, and overhaul providers (MROs), OEMs, airlines, lessors, and aftermarket distributors. SRA targets some of the largest commercial aircraft platforms today, including the Boeing 737 and Airbus A320 families.
About Weinberg Capital Group
Weinberg Capital Group is a Cleveland, OH-based family office that invests in well-positioned middle market companies located throughout the U.S. with annual revenue from $10 to $100 million and EBITDA ranging from $2 to $10 million. WCG seeks to partner with management teams and leverage its flexible, long-term capital to maximize value for all stakeholders. The firm’s current portfolio covers a broad range of industries including consumer products, manufacturing, business services, and value-added distribution. For more information, visit weinbergcap.com.