Victory Industrial Products Acquires Turbine Manufacturer
"Given our expansion over the past two years, the successful opening of our new Phoenix facility, and the continued backing and resources of WHI Capital Partners, we have the financial capacity and technical knowledge to make a significant impact in the turbine market,” says Bob Carter, Victory’s chief executive officer. “Considering that several members of our current team have many years of experience within the turbine industry, this really becomes a logical extension of our business. The synergies between the two industries are numerous allowing us to utilize much of the same manufacturing best practices to serve both markets."
Victory Turbine Systems will retain the current management team of KDS International and will provide additional technical and marketing support from VIP headquarters in Batavia, OH. Victory Turbine Systems will be a fabricator of turbine products targeting both engineering companies and OEMs, building a full line of products from facilities in Texas, Arizona and Ohio for a global customer base.
"Bob and his senior management team continue to grow the Victory platform despite the challenging economic conditions,” says Eric Cohen, managing partner of WHI Capital Partners. “Victory's entry into the turbine market has been part of the long term strategic plan that we formed when we acquired the company in May 2007 and marks a significant step in the development of the business. We remain excited about the organic growth opportunities in this market, as well as strategic acquisitions in new areas which will continue to leverage Victory's strong engineering and manufacturing expertise."
For more information, visit www.whicapital.com.