SOUTHLAKE, Texas and INDIANAPOLIS, Indiana – October 6, 2011 – Insight Equity II LP (“Insight Equity”), the Dallas, Texas-area headquartered private equity firm, is proud to announce its acquisition of a controlling interest in Versatile Processing Group, Inc. (“VPG”). VPG is a leading industrial processor of non-ferrous and other metals servicing the manufacturing, electric utility, and metal recycling industries, including providing the industry’s most comprehensive repair, refurbishment, and decommissioning services for electrical utility equipment. VPG is headquartered in Indianapolis, Indiana and serves customers nationwide from its facilities in Defuniak Springs, Florida; Des Plaines, Illinois; Nabb, Indiana; and Wills Point, Texas.
Conner Searcy, a Partner at Insight Equity, commented, “We are thrilled to add VPG to the Insight Equity portfolio and are looking forward to working closely with its management team to continue to grow the company. With a leading share in its market segments, VPG is well positioned to benefit from both maintenance and new capital spending in the utilities, automotive, and construction industries.”
“We are extremely happy to partner with Insight. This transaction will allow us to take advantage of numerous exciting new growth opportunities and ultimately better serve our customers,” remarked Rob Van Vliet, CEO of VPG.
Jack Waterstreet, a Vice President at Insight, stated, “We are very excited about the industrial metal processing space and look forward to considering further investments and acquisitions in the space in the future.”
About Versatile Processing Group, Inc.
VPG is a leading industrial processor of non-ferrous and other metals servicing the manufacturing, electric utility, and metal recycling industries, including providing the industry’s most comprehensive repair, refurbishment, and decommissioning services for electrical utility equipment. VPG is headquartered in Indianapolis, Indiana and serves customers nationwide from its facilities in Defuniak Springs, Florida; Des Plaines, Illinois; Nabb, Indiana; and Wills Point, Texas.
About Insight Equity
Insight Equity makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, bankruptcies, restructurings, and private family ownership. The firm leverages a proven, collaborative value creation model to facilitate operating enhancements and growth.