QCC Announces Acquisition by Capital Concepts Holdings, LLC
HARWOOD HEIGHTS, Ill., April 29, 2021 (GLOBE NEWSWIRE) -- QCC, a manufacturing services provider that specializes in precision machining, assembly and testing of complete products and mechanical components, has been acquired by Chicago-based private-equity investment firm Capital Concepts Holdings, LLC (CCH).
QCC was previously owned by Chicago-based Promus Equity. The transaction was completed March 31, 2021.
“Promus was a great owner and generously supported our growth in terms of new equipment, facilities maintenance and employee programs,” said QCC president and CEO Jon Goreham. “We are excited and confident that CCH will be a great partner for QCC, as well. I have known the founder of CCH, Jim Hallene, for almost a decade. Jim has deep roots in manufacturing, and I know he will bring fresh perspectives to our business that will help us grow faster and perform better.”
Jim Hallene founded CCH in 1998 and currently serves as its principal. Hallene said he is extremely excited to partner with the management of QCC as the company enters a new phase of growth and innovation.
“I grew up in a manufacturing household and worked in a factory as a punch press and steel saw operator,” commented Hallene. “After college, I started out in banking and helped finance manufacturing companies. I have worked closely with QCC’s management and I am grateful for the opportunity to collaborate with them to build on the company’s prior success.”
With his manufacturing and finance roots, Hallene said he is confident that QCC is well positioned to take advantage of the megatrend growth dynamics taking place in the manufacturing industry. “A company is only as good as its employees,” said Hallene. “QCC employees are the best in the business and we hope to provide many future opportunities for our valued employees.” Hallene noted that QCC’s management team is excited to continue leading the company in an additional role as investors.
In addition to its headquarters in Harwood Heights, QCC maintains an Assembled Products Division at its facility in Schiller Park, Illinois that is conveniently located near Chicago’s O’Hare International Airport. Established in 1951, QCC has 70 years of experience manufacturing components and products for the hydraulics, commercial vehicle and aerospace industries.
QCC is a world-class manufacturing services provider specializing in the manufacture, assembly and testing of complete products and precision machined components, with particular expertise in valves, pumps, motors, mechanical seals and other fluid power products. With exceptional manufacturing processes and project management capabilities, QCC allows original equipment manufacturers (OEMs) to focus on their primary products and core competencies by handling non-core manufacturing and assembly requirements throughout any stage of their product’s lifecycle. QCC’s brands include Dyna, Dukes Fluid Power, Hydraguide and Webster. Visit qccorp.com.
About Capital Concepts Holdings, LLC:
Capital Concepts Holdings is a Chicago-based private equity firm that invests in unique middle-market opportunities. The firm invests across a wide spectrum of business to create a diversified portfolio. Capital Concepts has an opportunistic investment style which augments traditional private equity activities with a hands-on investment and management approach to its portfolio companies. The firm combines progressive thinking and proven financial and operational skills. This approach to investing helps middle-market and entrepreneurial companies realize their greatest potential, while generating attractive returns for its investors. For more information, visit capconcepts.com.