COSTA MESA, Calif., Aug. 1, 2005 (PRIMEZONE) -- Anthony International, owned by private investment firm Aurora Capital Group, has acquired Pike Machine Products Inc. Transaction terms were not disclosed.
RSM EquiCo Capital Markets, the broker-dealer subsidiary of RSM EquiCo Inc., initiated the transaction, led the negotiations, and acted as exclusive financial advisor to Pike Machine Products.
"The strategic acquisition of Pike Machine significantly increases Anthony International's market share in glass refrigerator door manufacturing. It also enables the company to advance into the vending machine industry," said Randy Krauthamer, managing director for RSM EquiCo Capital Markets.
About RSM EquiCo Inc.
RSM EquiCo is a global provider of investment banking services to private companies with annual revenues of up to $500 million. We bring together companies, capital, and creativity on a national and international scale to help our clients achieve their personal and strategic objectives. The firm is part of RSM McGladrey Inc., a business segment of H&R Block.
About Pike Machine Products
Founded in 1956, Pike Machine Products manufactures glass display doors for the supermarket, restaurant, vending machine, convenience store, and wine chiller markets. Based in Elizabeth, New Jersey, Pike Machine Products supplies insulated swing and sliding doors, as well as hot case and slide lids for the commercial refrigeration industry. The company provides glass doors to a diverse customer base, which includes Maytag, Ingersoll-Rand, United Technologies, and Enodis.
About Anthony International
Anthony International manufactures commercial glass refrigerator and freezer doors, frames, lighting systems, and related accessories. Their products can be found in supermarkets, super stores, mass merchants, warehouse clubs, convenience stores, gas station retail stores, drug stores, and campgrounds. Anthony International is based in a multi-facility campus in San Fernando, California.
About Aurora Capital Group
Aurora Capital Group, a Los Angeles-based investment firm founded in 1991, acquires and builds companies in partnership with operating management. Aurora Capital invests in companies with enterprise values typically between $150 million and $1 billion and defensible market positions. While the company is not limited to specific industries, its focus is primarily manufacturing, distribution, and service-based niches. Aurora Capital currently manages equity funds totaling approximately $1 billion.