Cary Street Partners Announces the Sale of Parkline, Inc.
May 15, 2012
Cary Street Partners LLC announced today that Parkline, Inc. has signed a definitive stock purchase agreement with Summit Park, a private investment firm based in Charlotte, NC. Parkline, Inc. is a leading manufacturer of highly engineered, site-erected and modular metal building solutions serving a wide array of end markets. Cary Street Partners acted as financial advisor to Parkline.
“We are excited to be partnering with the Summit Park team and the opportunities this acquisition provides,” says Harvey Roberts, Senior VP of Parkline. “Summit Park and Parkline share the common goal of expanding the Company’s product capabilities to serve our clients better, and with the support of Summit Park, we are well positioned to pursue strategic growth,” Roberts added.
Parkline, headquartered near Charleston, West Virginia, is a leading manufacturer of small metal building systems serving the industrial, energy and utilities industries. The Company has more than 35 years of experience in metal building manufacturing, resulting in more than 70,000 building systems in service throughout the U.S and Canada. The Company’s building systems have a wide variety of product applications including: electrical utilities, oil and gas, pump houses, wastewater treatment, portable classrooms, self-storage and telecommunications. For additional information about Parkline or its capabilities, please visit its website at www.parkline.com.
About Summit Park
Based in Charlotte, NC, Summit Park is a private investment firm focused on the lower middle market. The firm invests across a wide range of industries and targets businesses with revenue between $10 and $100 million, or EBITDA between $4 and $10 million. Summit Park strives to be the partner of choice for owners, entrepreneurs, and management teams who share its passion for building companies of extraordinary value.
About Cary Street Partners
Cary Street Partners provides objective investment banking and wealth management solutions to successful individuals, institutions and companies from its Southeastern base. The investment banking team provides a broad range of services including merger and acquisition advisory services, private placements of debt and equity capital, and strategic and financial advice to management teams and boards of directors of emerging growth and middle market public and private companies across a variety of industries. Cary Street Partners is the trade name used by two separate limited liability companies, Cary Street Partners Investment Advisory LLC, a registered investment advisor; and Cary Street Partners LLC, a registered broker-dealer and a member of FINRA and SIPC.
For more information about this transaction or Cary Street Partners’ investment banking group, please contact Marcus Fariss or John Hartman at 336-275-8080. Additional information about Cary Street Partners can be found at www.carystreetpartners.com.