CLEVELAND, OHIO, December 7, 2020 – Calfee, Halter & Griswold client, Cleveland-based private equity firm CapitalWorks, has completed a majority investment in Electromechanical Research Laboratories, Inc. (ERL) of New Albany, Indiana, and subsidiary Law Valve of Texas, in partnership with ERL President and Chief Executive Officer, Stephen Wilkins and the ERL management team. Calfee Partner, Brent M. Pietrafese, and Associates, Salvatore J. (Sam) Totino and Lydia E. Warkentin, represented CapitalWorks in all legal aspects of this transaction.
CapitalWorks, LLC is an industrial-focused private equity firm founded in 1999 and backed by knowledgeable investors who partner with the firm in finding, vetting and owning companies. CapitalWorks acquires lower middle-market companies in manufacturing and industrial services industries and gives them the capital, support and freedom to grow. CapitalWorks is led by Managing Partner and CEO, Richard R. (Dick) Hollington III, Managing Director, Todd Martin, and Principal, John P. Corrigan III.
Founded in 1970, by Dr. Larry Wilkins and now led by his son, Stephen Wilkins, ERL Commercial Marine is a diversified manufacturer and repair service provider, producing equipment for inland and blue water barges as well as railroad cars. Its broad product line includes pumps, valves, overfill protection, cargo gauging and other marine products.
Law Valve of Texas provides in-shop and on-barge repair for tank barge equipment in Houston and the surrounding areas. Law Valve repairs all types of barge equipment such as pumps, valves, sight glass, mechanical seals and actuators. The company is known for industry leading support and service in the tank barge industry.
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