09 Sep Firm Buys Tulsa Power
By KYLE ARNOLD Tulsa World Staff Writer
Published 9/9/2008 by the Tulsa World
A New England private equity firm has purchased Tulsa Power, a Tulsa-based manufacturer.
Dubin Clark of Greenwich, Conn., announced the deal Friday.
Tulsa Power, with about 75 employees, makes a wide range of coiling and material handling solutions for the pipe, conduit, hose and tubing markets, according to its Web site. The 35-year-old company’s products are sold to the oil and gas, telecommunications and power industries.
“Dubin Clark is exactly what we wanted to find,” said Mike Spence, CEO of Tulsa Power and a minority owner of the company. “They’re considerate, honest and have both the experience and financial resources to help us grow our business.”
Dubin Clark did not disclose the financial terms of the deal.
The purchase won’t mean a significant overhaul for Tulsa Power, said David Perkins, president of Acquisition Advisors, a company that helped with the purchase.
Dubin Clark plans to keep Tulsa Power’s current management team and employees.
“Really, when a company like this buys another company, they just want to hold onto it for a few years and make money,” Perkins said.
The acquisition will give Tulsa Power more potential to expand because of Dubin Clark’s financial resources, Perkins said.
Tulsa Power was formerly owned by Alexander and Associates in Kansas City, another private investment firm.
This article was written by the experts at Acquisition Advisors, all rights reserved. Acquisition Advisors is the M&A firm of choice for buyers and sellers of mid-size U.S. companies. They can be reached at (918) 748-7995 or visit www.AcquisitionAdvisors.com for more information.