Banking Investments News

Parcrest Advisors Successfully Completes Industrial Distribution Transaction with Commercial Energy Specialists Receiving a Strategic Investment from Turning Basin Capital

Parcrest Advisors Successfully Completes Industrial Distribution Transaction with Commercial Energy Specialists Receiving a Strategic Investment from Turning Basin Capital

Parcrest Advisors served as the exclusive investment banking advisor to Commercial Energy Specialists on its investment from Turning Basin Capital. CES is a pioneer and leading provider of Service Supported Distribution® water treatment solutions for thousands of institutional and commercial swimming pools, spas, water parks, water features, and industrial process water clients. Based in Jupiter, Florida, CES distributes water treatment products which include chemical treatment packages, filtration systems, heater systems, pumps, saline and ultraviolet systems, aquatic lifts, and heaters and covers. Value-added services include engineering and design support; full factory commissioning; on-site preventative maintenance, service and support; and operator training and certification.

CES was founded in 1983 by Cuban American entrepreneurs Alvaro and Francisco Mendoza, who originally built the business as the commercial division of a highly successful solar energy contracting company. Within the first two years of operation, the Company secured Palm Beach County Parks, Walt Disney World and The Breakers Palm Beach as high profile customers that have stayed with CES for nearly four decades. In recent years, the Company has become the de facto standard for swimming pool water quality treatment programs with its trademarked Q5® Aquatic Rating System, and helped develop the most extensive real-time pool monitoring program in the industry.

Read More: KPMG’s New Tax Data Reader Tool Automates Analysis Of Financial Data, Simplifying…

During the Coronavirus pandemic, the Company experienced headwinds with theme parks and cruise lines going offline. However, the business maintained profitability and replaced “paused” revenue streams with new customers in new markets. In spite of the pandemic disrupting an otherwise robust M&A process facilitated by Parcrest Advisors, CES successfully closed on its transaction with TBC.

“We were blessed to have selected Parcrest Advisors

to lead us through this process. We had specific goals of finding the perfect capital partner to help take our platform company to the next level. They helped us prepare, performed a robust search of highly qualified potential partners, and skillfully weeded out investors who would not properly align with our long-term vision and corporate culture. We couldn’t have done it without them as a driving force in this successful outcome,” said Alvaro Mendoza, CEO and Co-founder of CES.

“We are excited to partner with CES, which will serve as our platform company that has significant runway to gain scale in its niche market by way of both organic and inorganic growth. We applaud Parcrest’s role in putting this deal together, which required finesse and diplomacy in negotiating complex deal points to ensure a win-win outcome for all parties,” stated Tom Willingham, Managing Partner at Turning Basin Capital.

Read More: Linedata Launches First Integrated ESG Data Solution For Asset…

“I couldn’t be more satisfied with this outcome for Alvaro and his team for successfully forming this partnership, and its enormous potential going forward. It was a true pleasure to work with Alvaro from conceptualization to execution and closing of this M&A process. We continue to see a significant opportunity in Industrial Distribution, and CES is yet another example of our thesis of consolidation potential within this sector,” said Francisco Lume, Managing Partner at Parcrest Advisors.

“Parcrest proudly continues to find success in negotiating successful closings on behalf of our valued clients in spite of a worldwide pandemic. Transparency, trust and perseverance have been the key driving principles of our firm, as well as those of our counterparties, that have led to this fantastic result,” stated James C. Lee, Founder and Managing Partner of Parcrest Advisors.

Read Also: SEI’s Collective Investment Trust Business Experiences Significant Growth

Related posts

QED Investors Closes Nearly $1 Billion in New Funds

Business Wire

POPcodes Announces Initiative to Help Acquirers and ISOs Instantly Deliver COVID-19 Safety Messages to Merchants

Fintech News Desk

Canopy Connect Integrates with TurboRater to Create a Seamless Insurance Quoting Process

EIN Presswire
1