|

WestView Capital Partners Invests in Advanced Technology Services December 31, 2007 Boston, MA
Advanced Technology Services, Inc. (ATS), the industry leader in outsourced production equipment maintenance and managed IT solutions, today announced it has received a $15 million equity investment from WestView Capital Partners, a Boston-based private equity firm targeting lower middle market companies. WestView’s investment was part of a management-led recapitalization of ATS.
ATS provides a comprehensive set of outsourced maintenance services designed to help manufacturing and other commercial enterprises maximize the utilization and extend the useable life of their factory production equipment and technology assets. Since its founding in 1985, the Company has grown to be the leading provider of production equipment maintenance services in North America and currently serves a broad base of customers including several of the world’s leading manufacturers. In 2007, ATS was recognized for the second year in a row as one of the world’s top 100 outsourcing service providers by the International Association of Outsourcing Professionals.
“ATS continues to be a strong player in the production equipment maintenance sector. Since our founding over 20 years ago, we have consistently achieved our objectives of providing customers the highest quality of service while achieving our financial goals and offering growth opportunities for our employee base, our strongest asset,” said Dick Blaudow, CEO and Chairman of ATS. “WestView’s equity investment allowed us to achieve liquidity for certain of our shareholders while enabling our team to continue to pursue our long-term vision for ATS. We believe that WestView’s core investment philosophy of partnering with existing management along with their focus on both the manufacturing and outsourced business services sectors makes an excellent match,” added President Jeff Owens.
“We look forward to working with the ATS team as they continue to capitalize on the growing opportunity for their service offerings” said Carlo von Schroeter, a managing partner at WestView who will join the company’s Board of Directors. “Since I first met the Company in 1998, ATS has more than tripled in size and distinguished itself as the leader in outsourced production equipment maintenance. Dick Blaudow and Jeff Owens have built an outstanding team and their platform is poised to accelerate its growth as the managed services they pioneered continue their move towards broader scale adoption as a core tenet of manufacturing competitiveness both in North America and overseas.” said Mr. von Schroeter.
About ATS:
ATS makes factories run better. Advanced Technology Services, Inc. improves productivity and profitability for many of the world’s most respected manufacturers through the managed services of production equipment maintenance, information technology and spare parts repair. Founded in 1985, ATS employs over 2,000 people across the US and is a member of the National Association of Manufacturers. ATS is headquartered in Peoria, IL with offices and services centers located in Greenville, SC, Chicago, IL, Detroit, MI, Monterrey, Mexico and the United Kingdom. For more information, visit the ATS website at www.advancedtech.com.
About WestView Capital Partners:
WestView Capital Partners is a private equity firm focused exclusively on lower middle market companies. WestView partners with existing management teams to sponsor minority and majority recapitalization, growth, buyout and consolidation transactions. The firm finances North American companies in a wide range of industries. Its industries of interest include business services, IT services, industrial and manufacturing, healthcare services distribution and logistics, media/publishing and financial services. WestView targets companies with operating profits between $3 million and $15 million with investment sizes ranging from $5 million to $25 million. WestView is located in Boston, Massachusetts and more information is available at www.wvcapital.com.
|