The Capital Corporation is pleased to announce the sale of THG Corporation ("THG", headquartered in Northborough, Massachusetts) to KLX, Inc. ("KLX", headquartered in Wellington, Florida). THG is one of the premier "Tri-Technology" Parker Hannifin motion and controls solutions provider that serves the Massachusetts, Connecticut, New Hampshire, Vermont, Maine, and Rhode Island markets. KLX is the world's leading independent distributor of aerospace fasteners, consumables, and logistics services.
For the last sixty years, THG has established itself as New England's market leader in providing value-add, motion and control components and system solutions to a diversified mix of end markets. THG's time-tested strategy of staffing its sales team with highly technical specialists, customizing components and systems for the vast majority of its OEM relationships, offering a highly robust product offering, providing industry-leading customer service, and using its systems design/engineering solutions capabilities to fuel its growing customer base have created an ecosystem of thousands of highly loyal customers, many of which are Fortune 1,000 companies, with an equal balance between original equipment manufacturers ("OEM's") and aftermarket ("MRO") customers.
Given THG's specific capabilities, product categories, and geographic footprint, there are a number of synergies that can create incremental avenues for growth for both THG and KLX in the future.
Carey Rhoten, CEO of THG, commented
"We are excited about becoming a member of the KLX team. KLX will empower us to focus even more resources into offering our customers the excellent and differentiated service they deserve."
Devin Green, the COO of The Capital Corporation, said
"The combination of THG and KLX represents one of those attractive situations where one plus one equals three, where everyone stands to benefit from the synergies created by the combined entity."
The Capital Corporation, a leading investment bank headquartered out of Greenville, South Carolina and with offices in Spartanburg, South Carolina and Boca Raton, Florida, served as the exclusive advisor to THG on the transaction.
About THG Corporation
THG Corporation is an industrial distributor, engineered systems designer/builder and motion and control integrator serving the six New England states through its affiliation with Parker Hannifin, and throughout the world through its Hope Air Systems and Sorensen Systems divisions. The Hope Group division of THG Corporation is a full-line Parker distributor providing OEM and MRO clients with the full range of components and systems for hydraulics, pneumatics, automation, fluid connectors, compressed air, and sealing solutions. For more information about THG Corporation visit www.TheHopeGroup.com.
About KLX, Inc.
KLX Inc., through its operating segments, provides mission critical products and complex logistical solutions to support its customers' high value assets. KLX serves its customers in demanding environments that face high cost of downtime and require dependable, high quality just-in-time customer support. For more information, visit the KLX website at www.klx.com.