Livingstone Converts Exit for Prairie Capital
April 2012Livingstone, the leading independent, international investment banking firm, is pleased to announce that Double E Company, LLC (“Double E” or the “Company”), a portfolio company of Prairie Capital, L.P. (“Prairie”) has been acquired by Incline Equity Partners (“Incline”). Livingstone served as the exclusive financial advisor to Double E and Prairie. Terms of the deal were not disclosed.
Based in West Bridgewater, Massachusetts, Double E is a market leading designer, manufacturer, and distributor of engineered solutions and accessory products used in web process manufacturing. The Company’s product lines include chucks, shafts, rollers, slitting systems, core cutters, brakes, unwind and rewind stands, web guides and tension control systems. Double E has manufacturing operations in the United States and Europe, and sells to customers throughout North America, South America, Europe and Asia.
“On behalf of Double E, we are pleased to be partnering with Incline Equity to continue executing on our ambitious domestic and international growth plan,” commented Double E CEO Mark Fortin. “Livingstone’s ability to grasp the complexity of our business model and provide deal expertise throughout the acquisition process was critical to the successful closing of the transaction.”
“We’re proud to have represented Double E and Prairie on a successful sale transaction,” said Livingstone Vice President Karl Freimuth. “Incline Equity is an ideal partner for Double E given the Company’s global operating model and appetite for strategic growth.”
The sale to Incline Equity marks the firm’s fourth closing in the last two weeks and ninth completed transaction this year. Since 2007, Livingstone is approaching 200 closed deals worth $10 billion in aggregate transaction value.
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