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“This transaction represents the culmination of a thoughtful and deliberate corporate growth program, and provides the company with an exceptional platform for future growth. We have truly enjoyed working with the extraordinary Ward Leonard team and look forward to continuing our long term relationship."
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Ward Leonard CT LLC, located in Thomaston, Connecticut, is a global provider of highly engineered motors, controls and integrated solutions focusing on challenging applications for the military and heavy industrial sectors. For more than 120 years, the Company’s products have provided power conversion & control for complex, technical and mission-critical infrastructure applications in the harshest environments.
CMM has worked with Ward Leonard for nearly 10 years on a variety of strategic and financial initiatives. Pursuant to this multi-year strategic planning effort, Ward Leonard identified organic and external growth opportunities to smooth out and grow its sales/earning stream and to strengthen its presence in the Oil and Gas (O&G) industry, particularly in the Gulf Coast region. Emerging from this strategic planning exercise was a specific strategy to acquire a synergistic company focused on the remanufacturing, repair and service of electric motors. This would not only complement its current position in the upstream sector but would also provide scalable diversification in the various sectors of the mid-stream and downstream oil & gas industries.
After considering a number of potential acquisitions, Ward Leonard acquired Houma Armature Works and Supply, Inc. (“Houma” or “HAW”), a highly respected Gulf Coast leader in electric motor and generator repair with operations in Houma, Louisiana and Houston, Texas. For 3 years Houma had been the exclusive distributor/sales representative of WL for new upstream O&G motors and aftermarket service in Louisiana, Oklahoma and Texas. Coupled with Ward Leonard’s recent market penetration in providing large motors to the upstream drilling market, HAW represents an important strategic initiative for Ward Leonard to create a platform that will immediately provide a stable, sustainable and complementary revenue and profit stream.
Frank Morse, Managing Director at CMM commented “This transaction represents the culmination of a thoughtful and deliberate corporate growth program, and provides the company with an exceptional platform for future growth. We have truly enjoyed working with the extraordinary Ward Leonard team and look forward to continuing our long term relationship."
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