St. Louis, Missouri, May 2008
Capital For Business, Inc.® (CFB) announced today that it recently completed the management sponsored acquisition of Tulsa, Oklahoma based Preston-Eastin, Inc. (“Preston-Eastin”).
ounded in 1972, Preston-Eastin designs and manufactures a complete line of manual, electric, and robotic welding positioners and manipulators used in the welding industry. Customers of the company range from small welding shops that use standard manual welding equipment to large industrial manufacturing operations that use sophisticated robotic welding equipment. Michael Perry, President of Preston-Eastin commented, “Since 1972 we have built a solid, profitable business with a defined niche in the welding industry. The combination of our business with the support of the investor group provides us the catalyst and opportunity to build a much stronger business with solid long-term fundamentals.” The acquisition of Preston-Eastin included the company’s management, in conjunction with the private equity firms: CFB, St. Louis, Missouri; InvestAmerica, Cedar Rapids, Iowa; and The Mendota Group, Madison, Wisconsin.