New Delhi company acquires Waukesha division
Analytical Surveys Inc. (ASI) announced the sale of selected assets associated with its Geographic Information Systems (GIS) office in Waukesha to RAMTeCH Software Solutions Inc. of New Delhi, India.
As part of the asset sale, ASI will transfer several ongoing GIS service contracts along with ownership of the hardware, software and other equipment necessary for the operation of the Wisconsin office.
In addition, RAMTeCH will employ all of the people currently associated with the Wisconsin operation.
“While this office has played a meaningful role within ASI, its sale provides us the opportunity to significantly reduce our operating costs and accelerate the collection of cash from operations as we refocus our efforts on the energy business,” said ASI chief executive officer Lori Jones. “This transaction keeps intact the exceptional GIS expertise and capabilities that reside within the Wisconsin base of operations and enables RAMTeCH to maintain the high-quality service ASI’s current and former GIS customers have come to expect.”
Manish Sanwalka, president of RAMTeCH, said, “We are excited about acquiring the Wisconsin based GIS operations from ASI, as this adds on-shore capabilities to our service offerings to the utilities and telecommunications sectors. We have been performing services as a subcontractor on the majority of contracts that are being transferred; therefore we fully expect a seamless transition of the business with no interruption of service or other impact to these very important clients. We welcome the addition of the expertise and experience that the ASI team brings to RAMTeCH, and look forward to growing the business.”
ASI will retain assets associated with its San Antonio corporate headquarters and certain contracts.
RAMTeCH is headquartered in New Delhi and employs more than 1,200 people globally, with U.S. offices in New Jersey and Florida.
Mason Wells to acquire Oilgear Co.
Oilgear Co. announced it has signed a definitive merger agreement to be acquired by Mason Wells Buyout Fund II, Limited Partnership, an affiliate of Mason Wells, a Milwaukee-based private equity firm.
Under the terms of the merger agreement, each outstanding share of Oilgear’s common stock will be converted into the right to receive $15.25 in cash. Oilgear currently has more than 2 million shares of common stock outstanding. The stock is traded on the Nasdaq Stock Exchange.
The proposed merger is expected to be completed by the end of 2006 and is subject to approval by Oilgear’s shareholders and other customary closing conditions. Oilgear’s board of directors unanimously approved the merger agreement, and its directors and executive officers have each indicated they intend to vote in favor of the merger (including five executives who have entered into voting agreements with Mason Wells).
“We believe this transaction will greatly benefit our shareholders, employees and customers,” said David Zuege, Oilgear’s president and chief executive officer. “The challenges of being a public company of our size have made it increasingly difficult for us to achieve our growth potential in today’s very competitive global fluid power marketplace. With the financial strength and resources of the Mason Wells team, the company will be able to expand our range of products and continue to provide creative solutions for our customers’ fluid power applications.”
Mason Wells was founded in 1982 as a subsidiary of Milwaukee-based Marshall & Ilsley Corp. and became independent in 1998. Mason Wells’ offices are located at 411 E. Wisconsin Ave., suite 1280.
Mason Wells manages more than $500 million of capital through Mason Wells Buyout Funds and Mason Wells Venture Fund. Since its founding, Mason Wells has closed more than 60 transactions through the Mason Wells Buyout Funds and its predecessor funds. Mason Wells Buyout Fund II was established in December 2005 as a $300 million fund raised to make control-oriented buyout investments of middle-market companies primarily located in the Midwest.
John Byrnes, executive managing director of Mason Wells, said, “We are very excited about our investment in Oilgear. We believe that the strength of Oilgear’s product line, and the knowledge and skill of its employees, combined with our equity capital and other resources, will position the company for long-term success.”
Richard Armbrust will serve as president of Oilgear when the acquisition is completed. Armbrust has served the past 15 years as chief executive officer or division president for a variety of companies, including ABB Inc. and Invensys PLC.
Logicalis acquires Green Bay IT company
Logicalis Inc., a global provider of high-performance technology solutions, recently announced the acquisition of Computech Resources, an IBM Premier Business Partner and a $35 million solution provider of IBM products and services based in Green Bay.
The acquisition strengthens Logicalis’ IBM solution capabilities and its Midwest presence by adding 65 staff members and increasing the company’s U.S. revenue to nearly $500 million. It also extends Logicalis’ capability to provide IBM-based solutions to small and medium-sized businesses.
Computech Resoruces will become a wholly owned subsidiary of Logicalis. The Green Bay office also serves the Milwaukee and Minneapolis markets.
“This acquisition further extends Logicalis’ nationwide capabilities to provide a broad range of IT solutions from leading vendors,” said Mike Cox, president and chief executive officer of Logicalis’ North American operations. “Most of our customers have heterogeneous IT environments, so the ability to act as a single-source solution provider is exactly what they want. This acquisition lets them deal with a single entity for all of their IT needs.”
Logicalis Inc. is a part of Logicalis Group, a division of Datatec Limited, a $3 billion United Kingdom-based business listed on the Johannesburg Stock Exchange.
Waste company expands with acquisitions
Milwaukee-based Veolia ES Solid Waste, formerly Onyx Waste Services, announced it has acquired the solid waste collection, hauling and recycling services from Allied Waste Services in Charleston, Ill., and Clarion, Pa.
“Growth through these acquisitions is an important part of Veolia’s strategic plan to expand our operations and serve more customers and communities throughout the country,” said Paul Jenks, president and chief executive officer for Veolia. “We are proud to acquire these two operations from Allied Waste, which is such a well-respected organization. We continue to look for additional strategic opportunities to grow through acquisitions that support our business plan.”
Financial terms of the acquisitions were not disclosed.
