BEVERLY HILLS, CA and MEDFORD, OR – November 15th, 2007- OpenGate Capital (“OpenGate”) has completed a $7 million purchase of the manufacturing facility and surrounding land occupied by its portfolio company, Pacific Crest Transformers (“PCT”).
“The purchase of the manufacturing plant and the surrounding property ensures that PCT will have a permanent operating facility, and will also improve the financial performance of the company. Additionally, with the substantial growth within the company, the surrounding land may be used in the future for expanded operations,” says OpenGate partner Jay Yook.
About OpenGate: OpenGate Capital is a private buyout firm focused on principal investing in high-growth/change-intensive businesses, as well as underperforming and turnaround situations. The firm combines the operational expertise and detailed due diligence capacities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The principals of OpenGate Capital have a long successful history of investing with management partners across a wide range of industries and transaction types, including leveraged buyouts, recapitalizations, corporate divestitures and spin-offs, build-ups and venture stage investing.
About Pacific Crest Transformers: Pacific Crest Transformers is a leader in the design and construction of liquid filled distribution transformers with the flexibility to offer custom designs for pad mount, substation and specialty transformers to meet the demands of a fast paced and ever changing marketplace. Their customer base includes over 200 customers, and covers all 50 states. The company also reaches into the Canadian and Mexican markets through its representatives. Customers include most top tier Fortune 500 companies.