Charmaine Penn has joined SPV as Office Manager and Executive Assistant. Charmaine provides internal administrative support, manages the accounting functions and attends to the company’s day-to-day office needs.
ACG is the leading international business association dedicated to the M & A, private equity and corporate development markets. ACG Atlanta Chapter is the 4th largest in the world. Please see www.acg.org/Atlanta for more information.
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In concert with new management, SPV invested in the Acquisition of Southern Parts & Engineering. SPECO provides parts and service for the air compressor market. Please see our Portfolio section for more information.
John Dalton, an SPV partner since 2003, acquired a controlling ownership position in Perceptics, LLC from Northrup- Grumman. Perceptics is headquartered in Knoxville, TN and provides sophisticated design and assembly of machine vision equipment. John has become the new CEO and will no longer be active in SPV.
On March 31, 2006, SPV, in partnership with Dan Janick – CEO, acquired Sunbelt Thread & Packaging. Headquartered in York, SC, Sunbelt is a niche distributor of industrial packaging, strapping and thread supplies and equipment. Please see our Portfolio Companies section for more information on this investment. (click here to view deal tombstone)
On January 31, 2006, SPV, in partnership with Mr. Roger Gilmartin, CEO, Covington Industries, Inc. and Terbell Partners Ltd., acquired Covington Industries Inc. Covington is headquartered in New York, NY and Spartanburg, SC and is a leading converter of decorative and commercial fabrics. Please see our Portfolios Company section for more information. (click here to view deal tombstone)
On December 13, 2005, SPV acquired Tucker Architectural Millworks, LLC (“TAM”). TAM (d/b/a “Tucker Millworks”), headquartered in Lithonia, GA, manufactures premium doors, windows, and molding for the historic renovation, luxury residential, and commercial construction markets. Please see our Portfolio Companies section for more information on this investment.
On June 18, 2004, SPV, in partnership with Source Capital, LLC, acquired a controlling interest in Aerial Access Equipment, LLC (“AAE”).
AAE is headquartered in Baton Rouge, LA, and provides high-reach manlifts and aerial work platform rentals to the marine, petro-chemical, and construction industries in the Louisiana and Texas Gulf coast area. Please see Portfolio Companies for more information on this new investment. (click here to view deal tombstone)
Ed Fisher, Managing Partner of SouthPointe Ventures, recently was Chairman of the 2nd annual ACG Atlanta Capital Connection event. The Atlanta Capital Connection is the largest gathering of M&A and private equity professionals in the Southeast U.S., and one of several regional events held throughout the U.S. The 2004 event registered 592 participants, and hosted 49 private equity and mezzanine debt exhibitors, both figures increases of over 30% from 2003’s event. SouthPointe Ventures was also one of the Exhibitors, which gave SPV significant exposure to new deal sources in and around their primary target market in the Southeast. Please see www.ACG.org/Atlanta for more information.