SOUTHLAKE, Texas; GREENWOOD, Mississippi; and MADISON, Mississippi – July 7, 2014 – Insight Equity Holdings LLC (“Insight Equity”), the Southlake, Texas headquartered private equity firm, is proud to announce that its portfolio company Versatile Processing Group, Inc. (“VPG”) has acquired Lee Metals, Inc. (“Lee Metals”), 4-Way Electric, Inc. (“4-Way”), and Garrett & Son, Inc. (“Garrett & Son”).
Lee Metals specializes in the recycling and processing of scrap metals and will relocate its operations to Chicago, IL. 4-Way Electric and Garrett & Son provide repair, refurbishment, and decommissioning of electric transformers, regulators, reclosers, and other electric equipment. 4-Way and Garrett & Son both operate out of Mississippi and primarily serve the Southeastern and Southwestern United States.
Patrick Murley, CEO of VPG, commented “Each of these acquisitions strengthens VPG’s core services to our customers and we are happy to be expanding our team to include Lee Metals, 4-Way, and Garret & Son.”
“We are pleased to expand VPG’s capabilities and presence in both metal processing and utility services. Each of these companies is a leader in its market and will be instrumental as VPG continues to grow” remarked James Jackson, a Senior Vice President at Insight Equity.
Victor Vescovo, COO & Managing Partner at Insight Equity, noted “The acquisitions of 4-Way and Garrett & Son position VPG as one of the premier independent providers of transformer services in the country, while Lee Metals adds further capabilities to VPG's industrial metal processing capabilities. We are proud to welcome all three companies to VPG.”
About Versatile Processing Group
VPG is a leading processor of industrial non-ferrous metals servicing the manufacturing, electric utility, and metal recycling industries, including providing the industry’s most comprehensive repair, refurbishment, and decommissioning services for electrical utility equipment. VPG is headquartered in Indianapolis, Indiana and serves customers nationwide from its facilities in Arizona, Florida, Illinois, Mississippi, and Texas.
About Insight Equity
Insight Equity makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, aggressive growth opportunities, restructurings, and transitions from private family ownership. The firm leverages a proven, collaborative value creation model to facilitate operating enhancements and growth. Insight Equity’s headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.