FORT WORTH, Texas – Atlasview Equity Partners (”Atlasview”) and Exonas Capital (”Exonas”) are pleased to announce the acquisition of Howard Supply Company, LLC (”Howard” or the “Company”), a market-leading distributor of maintenance, repair and operating (MRO) products and equipment, and a provider of specialized inspection, repair and recertification services. The transaction was supported by Brightwood Capital Advisors (”Brightwood”), which provided financing for the acquisition.
Founded in 1937 and headquartered in Fort Worth, Texas, Howard has supplied the U.S. oilfield for nearly nine decades. It operates ten locations across eight producing basins, serving more than 1,000 active customers across the energy and industrial sectors. Howard supplies workover rig operators and well service companies with the products their fleets consume every day: wire rope, slings, shackles and load-bearing hardware, API-rated hoisting equipment, and high-frequency consumables ranging from gloves and abrasives to lubricants and fittings. In-house repair, inspection, recertification and load-testing capabilities, performed to API, OSHA and ASME standards, and the distribution of equipment into commercial solar projects round out the Howard Supply platform today.
Paul Jeffries, Howard’s Chief Executive Officer, will continue to lead the business. Under new ownership, Howard will extend its product offering and distribution reach, further scale its private-label program, invest behind its repair and recertification capabilities, and evaluate strategic acquisitions.
“Howard has been taking care of its customers since 1937, and this partnership sets up the strongest chapter in our history,” said Paul Jeffries, Chief Executive Officer of Howard. “Exonas, Atlasview and Brightwood understand what makes this company work: a great team, longstanding customers and an uncompromising standard of safety and reliability. With their backing, we will invest in our people, grow what we offer and keep earning our customers’ trust.”
“Howard is exactly the type of business we look to back: a defensible franchise with multiple levers for value creation,” said Jay Vasantharajah, Founder and Managing Partner of Atlasview Equity Partners. “We are excited to partner with Exonas, Brightwood and the Howard team, as the Company enters its next phase of growth.”
“Howard is the definitive leader in its markets, with a reputation for quality and reliability built over 89 years,” said Dino Sawaya, Managing Partner and Founder of Exonas Capital. “We are excited to partner with Paul Jeffries and the entire Howard team to continue building a leading platform through organic growth and disciplined acquisitions.”
“We are pleased to deepen our relationship with Exonas through our second investment together, and to partner with Atlasview for the first time,” said Sengal Selassie, Chief Executive Officer and Managing Partner at Brightwood. “Howard’s long operating history, entrenched market position and durable, non-discretionary demand profile make it a natural fit for our approach to supporting middle-market businesses, and we look forward to backing the Company’s next chapter.”
About Howard Supply Company
Founded in 1937, Howard Supply Company is a leading distributor of maintenance, repair and operating (MRO) products, equipment and associated services to customers across the U.S. energy and industrial sectors. From ten locations across eight producing basins, Howard supplies wire rope, slings, shackles, hoisting equipment and related safety-critical hardware to workover rig operators and well service companies, supported by in-house repair, inspection, recertification and load-testing capabilities performed to API, OSHA and ASME standards. Howard is headquartered in Fort Worth, Texas. For more information, visit www.howard-supply.com.
About Atlasview Equity Partners
Atlasview Equity Partners is a private equity firm specializing in acquiring and building businesses in the lower middle market. Atlasview seeks businesses with defensible moats and multiple levers to add significant value to create an asymmetric returns profile. Atlasview works closely with management teams to execute organic and inorganic (M&A) growth initiatives to build businesses into market leaders. For more information, visit www.atlasviewequity.com.
About Exonas Capital
Exonas Capital is a Darien, Connecticut based investment firm identifying, executing and managing private equity investments in the lower and middle markets. Exonas seeks to invest in unique high-quality businesses straddling strategic, operational or financial crossroads that are capable of generating strong investor returns through the execution of value creation initiatives that are uncorrelated with the prevailing economic environment. The firm is founded on an unwavering commitment to intellectual honesty and rigor, alignment of interest, straight dealing and a desire to have fun. For more information, visit www.exonascapital.com.
About Brightwood Capital Advisors
Brightwood Capital Advisors, LLC is a private credit firm with a long-standing track record of investing in middle-market businesses. Brightwood specializes in providing senior debt capital primarily to U.S. businesses with $5-$75 million of EBITDA. Brightwood partners with non-sponsored businesses as well as private equity sponsors to provide customized financing solutions for directly originated investments. Founded in 2010, Brightwood is a minority-owned firm headquartered in New York City. For more information, please visit: www.brightwoodlp.com.
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