Owner Resource Group to Acquire Majority Interest In Optimation Technology
AUSTIN, October 3, 2012 – Owner Resource Group, LLC (“ORG”) announced today that it has acquired a majority interest in Optimation Technology, Inc. (“Optimation” or the “Company”).
Founded in 1985, Optimation (www.optimation.us) is a leader in providing complete engineering, automation, industrial construction and maintenance services, from concept stage through prototyping, all the way to full production-scale operations. The world’s largest and most sophisticated companies depend on the Company’s engineers, designers and skilled tradespeople to successfully deliver thousands of projects each year throughout the US and the world.
Optimation Founder and CEO William (Bill) Pollock, who will remain in his current role, stressed that the partnership between Optimation and ORG will further strengthen and support the long-term success of the Company, adding, “ORG brings capital and resources to accelerate the growth of Optimation and Kingsbury, which we recently acquired.”
Jon Gormin, Managing Director of Owner Resource Group added, “Optimation’s workforce is broad and deep in both skills and experience. We’re very pleased to help them continue to serve their outstanding client base in the comprehensive and sophisticated manner to which they are accustomed.”
Leveraging ISO-9001:2008 and Control Systems Integrators Association (“CSIA”) certifications, Optimation offers a single source for seamless, cost effective and timely project completion. The Company also maintains a 150,000 square foot fabrication, assembly and material handling process experimentation facility. Headquartered in Rochester, NY, with 8 field offices in Syracuse, Boston, Philadelphia, Houston, Dallas, Denver, Minneapolis, and Keene, NH, the Company serves clients across a wide spectrum of industries including chemical, life sciences, oil & gas, glass, utilities, food & beverage, automotive and aerospace.
The transaction closed on October 3, 2012. Terms were not disclosed. JP Morgan Chase provided the senior financing.
Owner Resource Group, LLC
Owner Resource Group is an Austin, Texas based private investment firm founded to bring superior outcomes to privately held businesses. We make investments that enable business owners and management teams to pursue their objectives and accelerate the growth of their companies in a disciplined manner. We appreciate an owner’s need for fairness, certainty, flexibility and confidentiality when considering a transaction. After a transaction, our philosophy is to align our interests with management to support the existing culture and the continued growth of the business.
We can be most helpful to businesses with annual revenue greater than $15 million and the following aspirations:
» Business owners hoping to achieve a full or partial exit
» Businesses looking to expand their capabilities, offerings or geographic reach (through organic growth or by acquisition)
» Management teams that would like to establish or increase their ownership in a business
For additional information, please visit www.orgroup.com or contact Will Burnett at 512-505-4180.