JULY 15–Salt Lake City, Utah–Daw Technologies, Inc., a controlled environment and cleanroom component design, engineering and installation firm, says it intends to be acquired by Valor Equity Partners, a Chicago-based private equity firm.
Valor, through a newly formed private company, is expected to acquire substantially all of the assets of Daw by Aug. 31. It also plans to continue to use the Daw brand and to grow and expand Daw’s existing product and service portfolio.
“Daw’s past financial situation has prevented the company from taking full-advantage of the market opportunity,” said William Morro, vice chairman of Valor Equity Partners. “The newly formed company will continue to provide Daw’s high-quality controlled-environment products and services and will retain Daw’s outstanding cadre of engineering design and construction professionals.”
Following the transaction Morro said Daw will be debt free and adequately capitalized to resume its growth and allow it to offer the full range of its products and services in all of its North American, European and the Middle Eastern Markets.
“The strength and financial position of the European group, combined with promising growth potential in North America, represents a solid investment opportunity for Valor,” he adds.
“We are very pleased with Valor’s offer,” said Jim Collings, chief executive officer, Daw Technologies.