Hammond, Kennedy, Whitney & Company, Inc. Announces Recapitalization of Proact Services Corporation
Indianapolis, IN – October 10, 2014 – Hammond, Kennedy, Whitney & Company, Inc. (“HKW”) announced that it has closed on the recapitalization of ProAct Services Corporation (“ProAct” or the “Company”) on October 10, 2014. ProAct, headquartered in Ludington, Michigan, specializes in providing innovative air and water treatment solutions customized to meet the requirements of specific environmental issues. ProAct was represented exclusively by Raymond James in this transaction. For additional information on the Company, please visit www.proact-usa.com.
Frank Smiddy, President & CEO of ProAct, stated, “HKW’s strong track record and considerable experience with ProAct’s business model make them the right partner for us. We are excited to invest alongside HKW as we enter our next stage of growth.”
“ProAct serves a diverse and growing end market, and we look forward to supporting the Company as they pursue new opportunities,” said Luke Phenicie, HKW Partner. “Frank Smiddy and his team are an excellent fit with HKW and we are very pleased they chose to partner with us.”
HKW is a private equity firm founded in 1903 with offices in Indianapolis and New York. Since 1982, HKW has sponsored 47 platform transactions of lower middle-market companies throughout North America as well as 52 add-on acquisitions. For further information on HKW, please visit www.hkwinc.com.