Boxwood Partners Advises Powertrack International on Its Acquisition by Austin Hose

Boxwood Continues to Build Its Track Record Within Industrial Distribution

JUPITER, FL – (August 31st, 2021) – Boxwood Partners is pleased to announce the sale of Powertrack International (“PTI”), a portfolio company of Tecum Capital Partners (“Tecum”), to Austin Hose, a premier hose, fittings, and accessories supplier.

Boxwood Partners, a leading boutique middle-market investment bank based in Jupiter, FL, acted as the exclusive sell-side advisor to PTI on the deal. The terms of the deal were not disclosed.

The deal marks Boxwood’s 3rd industrial services deal within the last 2 years and its 2nd within the industrial distribution space. Boxwood previously advised Stuart Hose & Pipe on its acquisition by GHX, a subsidiary of SunSource.

Powertrack International was founded in 1974 and is a high performance, wholesale distributor of industrial and hydraulic hose and fittings products. The privately held company specializes in marketing hoses and products designed to connect, conduct and convey materials and fluids in motion. PTI serves a variety of industries, including industrial cleaning, environmental cleanup, mining, heavy equipment, construction, oil/gas, and medical devices. The Pittsburgh, PA-based company also has facilities in Texas and California and serves a global customer base.

“For nearly 50 years, Powertrack has been providing high quality and mission critical components along with value-added services to a diversified OEM and MRO customer base. The Company’s strategic footprint is a key differentiator within the hose space, allowing Powertrack to service national customers across its 3 locations. ” said Brian Alas, Managing Director of Boxwood Partners. “The addition of PTI’s facilities allows Austin Hose to grow its customer base and continue to expand their presence geographically.”

Austin Hose is headquartered in Amarillo, TX and operates six locations servicing a six-state region. The hose specialist has locations in Odessa, San Antonio and Corpus Christi, TX, as well as Wichita, KS, and Oklahoma City, OK. Austin Hose opened its doors in 1967 as a distributor of farm and industrial machinery, equipment and supplies, in the small, rural city of Earth, TX.

“We are very excited that PTI found a good partner with Austin Hose and look forward to the future success they will achieve,” said Tyson Smith, Partner at Tecum.  “We’d like to thank the Boxwood team for helping us through this process and facilitating a successful deal for the Powertrack team.”

About Boxwood Partners

Boxwood Partners, LLC, is a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm’s extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants, ensure that the firm’s clients receive the attention, service, and results they deserve.

For more information about Boxwood Partners, please visit www.boxwoodpartners.com.

About Tecum Capital Partners

Tecum Capital Partners (“Tecum”) is a Pittsburgh, Pennsylvania based private investment firm deploying capital in lower middle market companies. Tecum provides mezzanine debt and equity investments in growth-oriented middle market companies across the broader high-value manufacturing, value-added distribution, and business services sectors, with a focus on opportunities that demonstrate strong long-term industry fundamentals, differentiated products or services, and identifiable secular growth tailwinds. Tecum partners with independent sponsors, family offices, committed funds, business owners seeking succession plans, and management teams to create shared success. Tecum focuses on businesses with EBITDA greater than $3 million and seeks to invest $5 million to $20 million per transaction. Tecum manages a licensed Small Business Investment Company (“SBIC”) and is currently investing out of Tecum Capital Partners III, L.P, a $240 million first-close fund launched in August 2021. Since 2006, the team has collectively invested more than $750 million in over 100 platform and add-on acquisitions.

For more information about Tecum Capital Partners, please visit www.tecum.com