Rock Hill News & Portfolio News
Rock Hill Capital Group Announces Investment in Tideland Signal Corporation
HOUSTON, TX – July 10, 2012 – Rock Hill Capital Group (“Rock Hill”), a Houston-based private equity firm, today announced that it has closed on a majority recapitalization of Tideland Signal Corporation (“Tideland” or the “Company”). Tideland is based in Houston, TX and is a leading provider of marine aids-to-navigation (“AtoN”) systems worldwide.
Tideland maintains offices in the United States, Canada, Singapore, United Arab Emirates, China and the United Kingdom. The Company is the world’s largest provider of a full suite of AtoN products and services including lanterns, buoys, radio aids, audible aids and related installation and repair services. Its products include rotationally molded polyethylene buoys, self-contained LED lanterns, conventional LED lanterns, range lights, fog signals, fog detectors, solar power systems, rotating beacons, Racons and customized remote monitoring systems. One area of substantial growth has been the Company’s service business whereby they take over the maintenance and repair of AtoN systems for coast guards, port authorities, and other governmental entities.
Founded in 1954, Tideland has built a reputation for providing the highest quality marine AtoN systems to an internationally diverse customer base consisting of several thousand ports, national lighthouse authorities, coast guards, major offshore oil and gas companies, contractors, agents and resellers, serving the infrastructure and energy industries worldwide.
Randall B. Hale, Managing Director of Rock Hill stated, “We are excited about the opportunity to partner with the Tideland team and look forward to continuing the company’s growth.” Mr. Hale continued, “Tideland is poised to continue the expansion of its product and service capabilities throughout the world.”
“The management team at Tideland is very excited about the timing of Rock Hill’s investment. We are at a point in the company’s growth where significant funds are needed to take us to the next level in our strategic plan,” said Allen Mitchener, President of Tideland. “Rock Hill’s international experience and strong leadership team is exactly what we need to help guide our investment decisions and operational objectives over the coming years.”
Tideland represents the first investment by Rock Hill’s second fund – Rock Hill Capital II, L.P.
About Rock Hill Capital Group
Founded in 2008, Rock Hill Capital Group, LLC is a private equity firm that targets investments in growing middle to lower middle market companies with enterprise values up to $75 million. Rock Hill seeks to assist successful entrepreneurial companies located in the southern United States to continue to grow and expand their business. Currently, Rock Hill has over $100 million of committed capital under management through Rock Hill Capital I, L.P. and Rock Hill Capital II, L.P. Other current portfolio companies include Alpha Technical Services Corporation, LLC, Applied Global Technologies, Inc., Blackhawk Specialty Tools, LLC, Kiva Kitchen and Bath Holdings, LLC, SouthWaste Services Holdings, LLC, and Diversified Well Logging, LLC.