Hammond, Kennedy, Whitney & Co (HKW) has sold Mobile Technologies Inc. (MTI) to Vestar Capital Partners (Vestar). Financial details have not been disclosed.
Vestar Capital Partners is a leading middle-market private equity firm specializing in management buyouts, recapitalizations and growth equity investments. Headquartered in New York, with offices in Denver and Boston, the firm invests in companies with valuations from US$100 million to US$1 billion and its target equity investment is US$50–200 million. Since its founding in 1988, Vestar has maintained a prudent, long-term approach to investing that has served it well throughout numerous business and economic cycles. The firm has completed 75 investments, in companies with a total value of more than US$40 billion.
Founded in 1903, HKW has evolved from a merchant/investment bank to a leader in the private equity industry. Today, HKW continues to seek investments in companies with solid fundamentals, providing financial transaction expertise and empowering management. The firm has successfully sponsored management buyouts of companies in a variety of industries, including medical devices, specialty vehicles, aerospace, defense, utility related infrastructure, energy, oil & gas, nuclear, coal, and niche manufacturing, among others. In addition to providing capital, HKW has continued to increase its service and support offerings and is well positioned to continue to serve as an experienced, supportive, and sophisticated partner, working together with management to build world class companies.
For over 38 years, MTI has been a global leader in mobile device display technologies, developing solutions that deliver the highest level of merchandising security for consumer electronics and mobile enterprise applications allowing products, sales and service to be the main focus, while security operates efficiently in the background.
One of Oaklins' teams in the USA served as the exclusive financial advisor to Mobile Technologies Inc. in its sale to Vestar Capital Partners.
"The team collaborated with a world class leadership team at MTI to execute a complex transaction. They successfully articulated MTI’s differentiated market positioning and engineered an outstanding outcome for our shareholders. In addition, Oaklins' team introduced the company to a financial partner that will support management’s growth initiatives. The team's dedication and expertise were key to the successful process, and, as always, we appreciate the senior focus that they have provided to HKW and its portfolio companies."
– Jeffrey G. Wood, Chairman, MTI and Managing Partner, HKW.
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