DALLAS, Feb. 6, 2014 (GLOBE NEWSWIRE) -- The Whitmore Manufacturing Company, a leading manufacturer of industrial lubricants and related application equipment used to enhance the reliability and extend the lifespan of industrial assets, announced today the acquisition of Fluid Defense Systems, LLC., a manufacturer of fully integrated lubricant storage and handling solutions. Whitmore has been a portfolio company of Capital Southwest Corporation (Nasdaq:CSWC) since 1979.
"Through product innovations and strategic acquisitions, Whitmore continues to expand its presence and reputation as a leader in the global lubrications market," said Joseph B. Armes, Chairman and CEO of Capital Southwest. "We are proud of the value Whitmore has created for our shareholders, which is further enhanced by accretive acquisitions like Fluid Defense."
"For more than 120 years, Whitmore has been providing pioneering lubrication products, enabling our customers to increase equipment productivity and uptime while reducing their capital investments," added Jeff Kilpatrick, President and CEO of Whitmore. "This acquisition expands our offering of products within the fast-growing reliability market and further extends the Whitmore platform."
Terms of the transaction were not disclosed.
About Capital Southwest
Capital Southwest Corporation (Nasdaq:CSWC) is a Dallas, Texas based publicly traded investment company that makes private equity investments with over $700 million in assets. Since Capital Southwest was formed in 1961, we have always sought to invest in companies with strong management teams and sound financial performance. As a public company, we are fortunate to have the flexibility to hold investments indefinitely. It is our dedication to this patient investment strategy that enables our portfolio companies to achieve their full potential. Visit our website www.capitalsouthwest.com to learn about our investment criteria and how our capital can enhance your company's growth.
Since 1893, The Whitmore Manufacturing Company, consisting of Whitmore Mining, Whitmore Rail, Whitmore Industrial, QHi Rail, Air Sentry®, KATS Coatings® and Horizon® Lubricants, has been a leading provider of innovative products and services which increase the productivity, reliability and lifespan of mission critical operating equipment. We manufacture high performance lubricants, friction modifiers, rail lubrication equipment, coatings, sealants, cleaners and reliability products designed to meet the specific needs of each industry and application. Customers worldwide rely on Whitmore to deliver the custom engineered solutions industry counts on for the most adverse conditions and demanding environments.
CONTACT: Media contacts: Lisa LeMaster or Rick Ericson The LeMaster Group/(214)706-6000Source:Capital Southwest Corporation