powermate  

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Powermate Corporation (“Powermate”) was a leading manufacturer of portable and home-standby generators, air compressors and pressure washers.

With approximately 40 years in business, Powermate had developed a trusted brand name and held leading market positions in the portable generator and air compressor categories.

Powermate distributed its products through mass retailers, home centers, specialty store chains, industry buying co-operatives and independent retailers.

In August 2004, York Street provided a $3.0MM senior subordinated note facility and $350K of equity to support the acquisition of Powermate from American Household, Inc. by an affiliate of Sun Capital Partners, Inc.

In January 2006, York Street structured and arranged a $15.0MM secured senior subordinated debt facility to support the recapitalization of Powermate. York Street invested $7.6MM as part of the transaction.

The Company was liquidated in 2008 and proceeds were provided to York Street and other creditors.

Sun Capital Partners - http://www.suncappart.com

 

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