Tampa, Florida – February 7, 2019 – KLH Capital (“KLH”) is pleased to announce that it has successfully exited its investment in Mid-State Industrial Maintenance, Inc. (“Mid-State” or the “Company”). Mid-State’s CEO, Jeff Clyne, and other key members of the Company’s senior leadership team have partnered with CenterGate Capital to recapitalize the business and continue its expansion plans.
Founded in 1973 and based in Lakeland, FL, Mid-State is a leading provider of outsourced fabrication, maintenance, and field services to the mining, chemical, power, and general manufacturing industries across the Southeast. In 2013, KLH invested in Mid-State allowing its founder, Hal Kersey, to diversify his assets and develop a succession plan which included members of his management team.
Reflecting on the last five years, Jeff Clyne, CEO, noted, “Our partnership with KLH has proven to be a key milestone in the growth of our company. Will and the KLH team invested tremendously in our development, helping us to improve our operations, expand our suite of capabilities, and grow the business.” Mr. Clyne added, “We are grateful for KLH’s commitment to Mid-State and excited to continue our success through a new partnership with CenterGate.”
Will Dowden, Partner at KLH Capital, commented, “It has been a pleasure working with Mid-State’s team to achieve their vision for the Company. Our investment in Mid-State is a perfect example of how KLH’s partnership unlocks value for owners and management teams alike. I’m excited for the entire team as they start a new chapter and continue building upon Mid-State’s position as a leader in the industrial services industry.”
For more information on KLH or its investment in Mid-State, please contact Will Dowden ([email protected]).