Connect with us

Business Wire

Mill Point Capital Announces Carve-Out of Pioneer Transformers

Business Wire

Published

on

Reading Time: 2 minutes

Pioneer Transformers Enters Next Chapter of Growth as a Standalone Entity

FRANKLIN, Wis.–(BUSINESS WIRE)–An affiliate of Mill Point Capital, a private equity firm focused on middle-market investments in North American industrial and business services companies, and Pioneer Power Solutions, Inc. (“PPSI”) announced today that they have entered into a definitive purchase agreement for Mill Point to acquire the power transformer divisions (“Pioneer Transformers” or the “Company”) of PPSI in a corporate carve-out transaction. Pioneer Transformers is a leading designer and manufacturer of custom-engineered electrical transformers.

Over its more than 100-year history, Pioneer Transformers has developed an expertise in the engineering, design and assembly of specialty electrical transformers for utility, industrial, commercial, renewable energy and data center market applications. The Company provides both liquid-filled and dry-type transformer products to a diverse and expansive roster of blue-chip customers through its US, Canada and Mexico operations.

Mill Point employs an Executive Partner model and has extensive experience with carve-out transactions in the industrials sector. Antony Besso, an Executive Partner of Mill Point who will be serving as Chairman of the Company, commented, “Pioneer Transformers is led by an excellent team that has earned a reputation for quality products, superior engineering capabilities and excellent levels of customer service. With strong brand equity, a history of operational excellence and the ability to now focus exclusively on its core transformer operations, the Company is well-positioned to seize compelling growth opportunities.”

Dustin Smith, Partner at Mill Point, commented, “The North American power grid requires significant investment in both new capacity and replacement units to keep pace with ever increasing electrical demand. Given Pioneer’s strong market position and reputation for providing reliable custom-engineered power transformer solutions, we are confident that the Company will capitalize on these favorable industry tailwinds as a standalone entity. We are excited to partner with the management team and welcome Pioneer Transformers to the Mill Point family.”

About Pioneer Transformers

Pioneer Transformers is a leading engineer and manufacturer of a broad range of specialty liquid-filled and dry-type power transformers for niche applications in industrial, OEM and commercial and backup power markets. The Company has an operational history of over one-hundred years and services a diverse group of utility, commercial power, industrial manufacturing and engineering and procurement and construction customers. With a family of brands recognized across North America for innovation, customization, quality and reliability, Pioneer Transformers is the go-to provider for customers in need of specialty-configured power transformer products. For more information, please visit www.pioneertransformers.com and www.jeffersonelectric.com.

About Mill Point Capital

Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the business services and industrial sectors. The firm works with Executive Partners to leverage its investment professionals experience, while providing strategic and operational guidance designed to drive long-term value creation in its portfolio companies. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.

Contacts

Jiaeh Kim

212-416-5800

info@millpoint.com

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

For the last half century, thousands of communications professionals have turned to us to deliver their news to the audiences most important to their business through the sources they trust most. Over that time, we've gone from a single office with one full time employee to more than 500 employees in 32 bureaus.

Business and Management

MMSI LOSS NOTICE: TOP RANKED ROSEN LAW FIRM Reminds Merit Medical Systems, Inc. Investors of Important Deadline in Securities Class Action – MMSI

Business Wire

Published

on

Reading Time: 3 minutes

NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Merit Medical Systems, Inc. (NASDAQ:MMSI) between February 26, 2019 and October 30, 2019, inclusive (the “Class Period”) of the important February 3, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Merit Medical investors under the federal securities laws.

To join the Merit Medical class action, go to http://www.rosenlegal.com/cases-register-1736.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the integrations of Cianna and Vascular Insights, including their products, sales people, and R&D facilities, had caused operational disruptions, reduced sales, and were months behind schedule; (2) sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during fiscal 2019; (3) in light of the foregoing, Merit Medical’s reported financial guidance for fiscal 2019 and 2020 was made without a reasonable basis; and (4) as a result, Merit Medical’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 3, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1736.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contacts

The Rosen Law Firm, P.A.

Laurence Rosen, Esq.

Phillip Kim, Esq.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

Continue Reading

Business and Management

FIAT LOSS NOTICE: TOP RANKED ROSEN LAW FIRM Reminds Fiat Chrysler Automobiles N.V. Investors of Important Deadline in Securities Class Action – FCAU

Business Wire

Published

on

Reading Time: 2 minutes

NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Fiat Chrysler Automobiles N.V. (NYSE:FCAU) from February 26, 2016 and November 20, 2019, inclusive (the “Class Period”) of the important January 31, 2020 lead plaintiff deadline in securities class action. The lawsuit seeks to recover damages for Fiat investors under the federal securities laws.

To join the Fiat class action, go to http://www.rosenlegal.com/cases-register-1732.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Fiat employed a bribery scheme to obtain favorable terms in its collective bargaining agreement with International Union, United Automobile, Aerospace and Agricultural Implement Workers of America; (2) high-ranking Fiat officials were aware of and authorized the scheme; and (3) due to the foregoing, defendants’ statements about Fiat’s receivables, business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 31, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1732.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Contacts

The Rosen Law Firm, P.A.

Laurence Rosen, Esq.

Phillip Kim, Esq.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

Continue Reading

Business and Management

Republic Bank Opens New West Broadway Banking Center inside Republic Bank Foundation YMCA

Business Wire

Published

on

Reading Time: 2 minutes

LOUISVILLE, Ky.–(BUSINESS WIRE)–Republic Bank announced today that it has opened a new banking center inside the Republic Bank Foundation YMCA at 1720 W. Broadway, Suite 103.

“We are thrilled to open this new Republic Bank location in Louisville on West Broadway,” said Jammie Williams, Business Development Manager – Broadway. “Our strong team of local bankers are invested in the community and committed to taking care of our clients in this neighborhood. The opening of this new banking center is just one way we make banking ‘easier’ for our clients through the combination of both bank lobby service and extended service hours offered by our Interactive Teller Machine.”

“Our new West Broadway location inside the Republic Bank Foundation YMCA will enhance our successful community banking model in Louisville,” said Republic Bank Chairman and CEO Steve Trager. “We look forward to helping businesses and consumers achieve their financial goals and extending friendly, local lending.”

In addition to traditional bank lobby hours from 9:00 a.m. to 4:00 p.m. Monday – Thursday, 9:00 a.m. to 5:00 p.m. on Friday, and 9:00 a.m. to 12:00 noon on Saturday, this location will feature both a walk-up and drive-thru Interactive Teller Machine (“ITM”). ITMs feature live customer service representatives available through real-time video, allowing for extended banking hours and greater customer convenience. ITMs allow clients to easily make deposits without an envelope or deposit slip, cash checks for exact change, and make loan payments. Transactions are processed the same day, even after regular banking hours. The Republic Bank ITM offers convenient banking from 7:30 a.m. to 6:00 p.m. on weekdays and 8:30 a.m. to 1:00 p.m. on Saturday.

Republic Bancorp, Inc. (the “Company”) is the parent company of Republic Bank & Trust Company (the “Bank”). The Bank currently has 41 full-service banking centers and two loan production offices throughout five states: 28 banking centers in 8 Kentucky communities – Covington, Crestview Hills, Florence, Georgetown, Lexington, Louisville, Shelbyville, and Shepherdsville; three banking centers in southern Indiana – Floyds Knobs, Jeffersonville, and New Albany; seven banking centers in six Florida communities (Tampa MSA) – Largo, Port Richey, St. Petersburg, Seminole, Tampa, and Temple Terrace, and one loan production office in Oldsmar; two banking centers in Tennessee (Nashville MSA) – Cool Springs (Franklin) and Green Hills (Nashville), and one loan production office in Brentwood; and one banking center in Norwood (Cincinnati), Ohio. The Bank offers internet banking at www.republicbank.com. The Bank also offers separately branded, nation-wide digital banking at www.mymemorybank.com. The Company has $6.1 billion in assets and is headquartered in Louisville, Kentucky. The Company’s Class A Common Stock is listed under the symbol “RBCAA” on the NASDAQ Global Select Market.

Republic Bank. It’s just easier here.®

Contacts

Michael Sadofsky

Chief Marketing Officer

Louisville, Kentucky

(502) 561-7125

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

IT9 hours ago

Traffic4cast competition reveals novel way to predict traffic flow using AI

Business and Management19 hours ago

MMSI LOSS NOTICE: TOP RANKED ROSEN LAW FIRM Reminds Merit Medical Systems, Inc. Investors of Important Deadline in Securities Class Action – MMSI

Business and Management20 hours ago

FIAT LOSS NOTICE: TOP RANKED ROSEN LAW FIRM Reminds Fiat Chrysler Automobiles N.V. Investors of Important Deadline in Securities Class Action – FCAU

Business and Management22 hours ago

GEICO Says Keep the Holiday Rush out of Your Driving

Business and Management22 hours ago

Republic Bank Opens New West Broadway Banking Center inside Republic Bank Foundation YMCA

Business and Management1 day ago

ADTRAN 72 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against ADTRAN, Inc. – ADTN

Business and Management1 day ago

CV SCIENCES INVESTIGATION INITIATED By Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of CV Sciences, Inc. – CVSI

Business and Management1 day ago

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Live Nation Entertainment, Inc. and Encourages Investors with Losses to Contact the Firm

Business and Management1 day ago

The Law Offices of Frank R. Cruz Announces Investigation on Behalf of Amdocs Limited Investors (DOX)

Business and Management1 day ago

Santa Clara University Sends Early Admission Decisions After Record Number of Applications

Follow our Tweets

Trending

Please turn AdBlock off