Transformational Transaction Adds Scale, New Product Depth and Expands Business into Refrigerated Transport Carrier Market
NEW YORK – FEBRUARY 11, 2020 – One Equity Partners (“OEP”), a leading middle market private equity firm, today announced that its portfolio company, The W.W. Williams Company, LLC (“W.W. Williams”), has completed the acquisition of CP Company, which does business as CT Power, Inc. and Iceberg Enterprises.
Headquartered in Commerce City, Colorado, CT Power is a regional dealer of transport refrigeration and temperature-control equipment, parts and services for Carrier Transicold, while Iceberg Enterprises sells trailers, and also provides trailer and parts rental, leasing services, cold storage, used equipment and other products. Founded in 1985, CP Company has facilities in Colorado, New Mexico, Nevada, Arizona and California.
“CP Company’s advanced, energy-efficient refrigeration transport equipment and services are highly complementary to W.W. Williams’ focus on supply chain solutions and repair services for commercial trucks and industrial vehicles,” said Jamie Koven, Senior Managing Director of OEP. “This acquisition will strengthen W.W. Williams with additional independent truck maintenance locations, and broaden its trailer parts and related product lines.”
“Our partnership with OEP has helped W.W. Williams to continue to identify strategically attractive acquisition opportunities that have allowed us to expand our geographic footprint into new markets and generate additional growth opportunities,” said John Simmons, Chief Executive Officer of W.W. Williams. “We’re excited to welcome CP Company President and CEO J. Spencer Dietrich, his talented management team, and employees to the W. W. Williams family of businesses.”
The acquisition of CP Company will be W.W. Williams’ fourth acquisition since OEP acquired it. In February 2019, W.W. Williams acquired Cassique Warehouse & Packaging LLC, a freight logistics business, that followed two years after its acquisition of Auto Safety House, LLC, one of the largest vehicle maintenance service and parts provider for trucks, pre-owned and new buses, and other vehicles in the Southwestern U.S., in February 2017. In January 2017, W.W. Williams acquired Desert Fleet-Serv Inc., an onsite maintenance and repair services company serving diesel trucks and trailers.
About One Equity Partners
OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 180 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com.
About W.W. Williams
Founded in Columbus, Ohio, in 1912, W.W. Williams is one of the nation’s largest sales and service networks of industrial power products. It offers service and repair, OEM product sales, and supply chain management solutions. Its products and service offerings include diesel engines, transmissions, bumper-to-bumper truck repair, transport refrigeration, power generation systems, and supply chain logistics services. The company serves on-highway truck fleets, off-highway equipment users, Department of Defense, vehicle and equipment OEMs, commercial facility owners, and marine equipment owners. For more information, please visit: www.wwwilliams.com.
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