Kansas City, MO –
TGP Investments II, LLC (“TGP”), the manager of private
equity investment fund TGP Capital Partners II, LLC (the “Fund”), is pleased to announce that
the Fund has sold Air Power Systems, Co., LLC (“Apsco”), to Ingersoll Rand (Ticker: IR)
(“IR”).
Founded in Tulsa, Oklahoma in 1964, APSCO provides customized hydraulic and pneumatic
products and systems for medium and heavy-duty work truck and transportation applications.
Building on its 60+ years of industry experience, APSCO offers unparalleled engineering
expertise, product customization and customer service.
Shane Parr, TGP Managing Director, stated “We were very pleased with the sale of Apsco. The
management team executed the strategic plan very well and enabled the company to grow 17%
per year during our seven-year ownership period. The team did a tremendous job, and definitely
deserved the financial rewards they received as part of our management incentive plan.”
Kansas City-based TGP Capital Partners II, LLC is a private equity investment fund formed to
make middle-market investments in well-managed, profitable, and growing companies. The
Fund prefers to provide growth capital for acquisitions or internal growth or to facilitate liquidity
or a sale event for existing shareholders. TGP Capital Partners makes both control and minority
equity investments in partnership with proven managers in manufacturing and business services
companies with revenues generally between $15 million and $50 million. For more information
about TGP, please visit the website at www.tgpinvestments.com.
