CHICAGO, Jan. 4, 2008 (PRIME NEWSWIRE) -- Reno Technology, Inc., a portfolio company of Catalyst Equity Group, LLC, has acquired Carruthers Equipment Company and Carruthers Leasing Company. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive advisor to the seller.
"Reno Technologies was a great fit to acquire Carruthers Equipment. It will help strengthen Reno's engineering and design in food processing solutions, reinforce its food oven business with new designs, and provide entree into new food equipment market niches," said Brian Boyle, senior managing director, RSM EquiCo Capital Markets. "Carruthers Equipment's management team was able to find an acquirer with a strong reputation in the food processing industry that was also able to ensure several key employees were offered post-acquisition positions."
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. Boyle and Kamal Patel, vice president, led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the FINRA and SIPC. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About Carruthers Equipment Company
Carruthers Equipment Company (www.carruthers.us) is a designer and manufacturer of specialized food processing equipment. The company's innovative equipment is utilized in a variety of applications including dry filling, viscous filling, slicing, dicing, shredding, and portioning of diverse food types throughout the food production process. Carruthers' customers encompass a diverse base of food processing companies such as Campbell Soup, ConAgra, Del Monte Foods, Kraft Foods, Nestle Smithfield, Transocean and Tyson Food. Carruthers is based in Warrenton, Ore.
About Reno Technology
Reno Technology, established in 1965, is a manufacturer of stainless steel industrial meat processing equipment. Its products are sold primarily to meat processors. Reno combined with Marlen Research Corporation in 2002. Reno Technology is based in Hutchinson, Kan. Marlen (www.marlen.com) is a designer and builder of food processing equipment for numerous countries and markets, including meat, poultry, fish, vegetables, fruit, bakery, confectioneries, snacks and dairy goods. Catalyst Equity Group, LLC (www.catalystequitygroup.com) is a private equity group that invests in and provides operational support to senior management teams of small businesses.