Daybreak Capital Partners is pleased to announce that it served as investment banker to Analytical Systems KECO, LLC (d/b/a KECO), a Main Street Capital Corporation (NYSE: MAIN) portfolio company, in its recent purchase of Trace Technology, Inc.’s analyzer business unit.
Analytical Systems KECO (the “Company” or “Keco”) is a leading provider of electro chemical and other unique industrial sensor and sampling systems used in the measurement of gas and liquids involving toxic, hazardous or otherwise undesirable substances and contaminants such as H2S, CO2, total sulfur, hydrocarbons and oil, and various volatile organic compounds (VOCs). Its analyzers are used in a range of industrial process and environmental monitoring applications in industries such as: oil and gas pipelines, water and wastewater processing, chemicals and refining, environmental air and water quality, analytical laboratories, food and beverage, and landfill and biogas management. The Company’s website (www.liquidgasanalyzers.com) provides additional descriptive information about the Company.
The Company specializes in providing products to the high performance, mission critical end of the market where they are known for their combination of high precision, stable calibration, and high speed, in-line performance. Customers of the Company are leaders among their industries and include: Chevron, Exxon Mobil, Suez Water, Kinder Morgan, Koch Pipeline, Siemens, Florida Power & Light, and Teledyne, among others.
Trace Technology (“Trace”) manufactures hydrogen sulfide (H2S) and total sulfur analyzers and reagent tape. Trace was a component supplier to Analytical Systems KECO and serves both liquid and gas measurement applications. Primary markets served include pipelines, chemicals, refining, water and wastewater markets. This acquisition of Trace vertically integrates a primary relationship in KECO’s supply chain and will strongly help the company achieve shorter lead times and a meaningful margin pick-up that will position the Company well in it existing energy, water and wastewater, and other newly developing end-markets.
Main Street Capital Corporation. Main Street Capital Corporation (NYSE: MAIN) is a publicly traded investment firm with $4.9 billion AUM that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street’s portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides “one stop” financing alternatives within its lower middle market portfolio. Main Street’s lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street was founded in 1995 and based in Houston, Texas.
Daybreak Capital Partners – “Run by CEOs to Serve CEO’s” is a specialty investment banking firm predominately serving companies in the middle and lower middle markets. The firm is founded on the premise that senior level investment banking service combined with expert industry specialists will produce distinguished results for our clients in the marketplace. (www.DaybreakCapital.com)