DALLAS, Jan. 17, 2014 (GLOBE NEWSWIRE) -- The RectorSeal Corporation, a leading Houston, Texas-based manufacturer of chemical and specialty products for professional tradesmen, has acquired certain assets of Resource Conservation Technologies (RCT), a Sarasota, Florida based manufacturer of HVAC/R products. RectorSeal has been a portfolio company of Capital Southwest Corporation (Nasdaq:CSWC) since 1967.
The acquisition of RCT's assets represents the 25th acquisition by RectorSeal since 1991.
"The RCT transaction is another example of RectorSeal's demonstrated ability to identify and acquire highly complementary products," said Joseph B. Armes, President and Chief Executive Officer of Capital Southwest. "This product line readily integrates into RectorSeal's established distribution system and will enhance shareholder value."
RCT manufactures condensation sensor and drainage equipment for heating and air conditioning systems.
"We view RCT as a fast-growing company with unique products that will expand the breadth of RectorSeal's HVAC/R offerings, especially in the condensate management niche, which is an important part of our existing product offerings," said David Smith, President of RectorSeal.
Terms of the transaction were not disclosed.
About RectorSeal: The RectorSeal® Corporation is a leading manufacturer of chemical and specialty products designed for professional tradesmen. Steady growth over the years has been maintained through a commitment to providing high quality products and services. With a diversified business strategy, RectorSeal aggressively pursues new and unique technologies to serve the plumbing, heating, air conditioning, electrical and construction industries. The RectorSeal Corporation is devoted to providing innovative quality products supported by strong customer and technical service. For more information, visit www.rectorseal.com, email: marketing@rectorseal.com or call (800) 231-3345.
About Capital Southwest: Capital Southwest Corporation (Nasdaq:CSWC) is a Dallas, Texas based investment company with over $700 million in assets. Since Capital Southwest was formed in 1961, we have always sought to invest in companies with strong management teams and sound financial performance. As a public company, we are fortunate to have the flexibility to hold investments indefinitely. It is our dedication to this patient investment strategy that enables our portfolio companies to achieve their full potential. Visit our website www.capitalsouthwest.com to learn about our investment criteria and how our capital can enhance your company's growth.