CGP Partners with Benetech Management in Majority Recapitalization

Deal capitalizes on increasing demand for Benetech’s highly engineered safety related products and services in the energy sector.

We are pleased to announce the 13th investment of Chicago Growth Partners, L.P. (“CGP”), the recapitalization of Benetech, Inc. of Montgomery, IL. Benetech is a leading provider of material handling and dust management solutions, primarily serving electric utilities. CGP, whose partners manage a $1.2 billion private equity portfolio, led the recapitalization of Benetech, partnering with the company’s management team, led by CEO and President, Ronald Pircon, and the Private Equity Group of Goldman Sachs Asset Management. Golub Capital provided the senior debt financing for the transaction.

Benetech’s vision is to be the leading provider of comprehensive safety solutions to the electricity generation industry. Benetech’s solutions allow its customers to operate safely and within environmental guidelines at the most economical costs.

The company’s highly engineered material handling and dust management solutions protect the lives of employees and preserve valuable cash generating power production assets by minimizing exposure to catastrophic explosions, fires and other environmental, health and safety related losses. Benetech has set the industry standard for innovation, productivity, safety and reliability while offering the highest level of service in the industry supported by a nationwide network of service technicians.

The Company’s comprehensive safety and dust management solutions and nationwide service capabilities are unmatched by any competitor.

We believe Benetech’s leading reputation and cutting edge products and services position the Company well to benefit from increasing industry awareness and spending on safety and environmental compliance. Benetech’s focus on innovation and the company’s exceptional management team provide an excellent platform for further growth through additional products and service offerings and broader geographical coverage.

The CGP deal team included Rob Healy, Robert Powers and Jeff Farrero.