DALLAS, Sept. 15, 2014 (GLOBE NEWSWIRE) -- The RectorSeal Corporation, a leading Houston, Texas-based manufacturer of chemical and specialty products for professional tradesmen, has acquired the PolyslabTM, Evo-CreteTM and related HVAC brands from Evolve Composites Pty Ltd (Evolve), based in Queensland, Australia. Evolve manufactures a range of equipment base products for heating and air conditioning systems. RectorSeal has been a portfolio company of Capital Southwest Corporation (Nasdaq:CSWC) since 1967.
"The Evolve transaction is another example of RectorSeal's demonstrated ability to identify and execute accretive, strategic acquisitions," said Joseph B. Armes, Chairman and Chief Executive Officer of Capital Southwest.
The acquisition of Evolve's assets represents the 26th acquisition by RectorSeal since 1991.
"We view this transaction as an opportunity to expand the breadth of RectorSeal's HVAC/R offerings and establish a local presence to more effectively address the Australian market with RectorSeal's complete product line," 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 publicly traded investment company that makes private equity investments with over $750 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 flexible investment strategy that enables our portfolio companies to achieve their full potential.