FOR IMMEDIATE RELEASE
Richmond, VA – (January 9, 2006) Transact Capital is pleased to announce the sale of Carroll Engineering Company and Delta Electric, Inc to Commonwealth Venture Funding Group, Inc. Based in Harlan, KY and Logan, WV, Carroll and Delta are leading distributors of value added electrical, mechanical, and electro-mechanical products and services to the Coal Mining Industry. Both companies have been in operation for over 25 years and serve over 500 mines.
According to Winston Carroll, the President of both companies, “we were entrepreneurs who had never sold a company before…. Transact Capital guided us through every step in the process and introduced us to many qualified buyers. Several buyers made offers, and Transact Capital helped us determine the best one. They also helped us close the deal.”
Commonwealth Venture Funding Group is a private equity investment management company, based in Waltham, MA with a focus on small to mid-sized companies. Patient investors, they focus on long-term investments which often exceed the typical 5 year time horizon of most funds.
Transact Capital is an independent mergers and acquisitions advisory firm headquartered in Richmond, VA with offices in Roanoke, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of small privately held companies with less than $100 million in revenues. 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.
To learn more about Transact Capital, please call Steve Zacharias at 804-323-6868 ext. 102 or send an e-mail to Steve at Steve@TransactCapital.com.