FOR IMMEDIATE RELEASE
January 26, 2015
Richmond, VA – Transact Capital Partners is pleased to announce that AAP, Inc., based in Bowling Green, VA, was purchased by Frederick Pickering, the company’s long-term Vice President and General Manager. Transact Capital served as the exclusive financial advisor to AAP in the transaction.
AAP, Inc. was established in 1980 with the goal to create an organization to market and service high tech specialized heating, cooling and power products for demanding industries. They will continue their tradition of quality work with an extremely knowledgeable, fully staffed technical support team accessible 24 hours, 7 days a week. Mr. Pickering hopes to expand the product line offering and grow the customer base, creating new employment opportunities and a successful future for the company.
George Sydnor is a Sr. Vice President at Transact Capital Partners and brokered the deal. Sydnor had this to say about the transaction: “With his many years of experience as General Manager responsible for both sales and operations, Fred Pickering was well-qualified to step up and take the full reins of the company with its acquisition from the estate of the original founder and owner of the business.” Sydnor has over 15 years of mergers & acquisitions advisory experience and over 40 closed transactions. He also has an extensive knowledge of the manufacturing, mining and distribution industries.
Transact Capital Partners is a full-service business brokerage, mergers and acquisitions advisory firm headquartered in Richmond, VA, with offices in Roanoke and Tidewater, VA, Lexington, KY, Orlando, FL, and Central Pennsylvania. Transact focuses on the needs of small privately held companies in the lower middle market with enterprise values under $50 million. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities. Security transactions are offered through Transact Capital Securities, LLC. Member FINRA and SIPC.
To learn more about Transact Capital, please call Steve Zacharias at 804-612-7102 or e-mail Steve@TransactCapital.com.
Transact Capital Partners
7400 Beaufont Springs Dr.
Richmond, VA 23225