Industry

摘要

The Irving, Texas-based design, engineering, and manufacturing company Global Power Equipment Group Inc. announced on October 12 that it has sold its Mechanical Solutions segment for approximately $43.3 million to Inno-va Global Ltd., a portfolio company of TriWest Capital Partners. The Mechanical Solutions segment was made up of Global Power's Braden North America, Braden Europe, and Consolidated Fabricators businesses. Global Power said that it has used the net proceeds of the cash sale of about $41 million primarily to pay down debt. Following a prepayment of debt with $34 million of the proceeds from the sale, Global Power said that it has $27.6 million in debt and $19.6 million in cash, of which $12.2 million is restricted. Innova, formerly ATCO Emissions Management, is an engineering, fabrication, procurement, and construction company.