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Cattron Group acquired by senior management, equity investors


On June 10, Cattron Group Inc. — parent of portable remote-control technology supplier Cattron-Theimeg Inc. — announced that founder and Chairman Jim Cattron recently sold his interest in the company to a senior management group and an investment group led by Weatherly Private Capital L.L.C.

Cattron Group officials didn’t disclose the list of senior managers or the deal's terms, but a Cattron spokesman confirmed that the company’s core management team would remain in place.

"We have found in Weatherly partners who bring deep resources and experience that can help and support us greatly in the future," said Cattron President and Chief Operating Officer Jim Robertson in a prepared statement.

Added Tom McFall, a Weatherly Private Capital principal who recently replaced Jim Cattron as Cattron Group chairman: "Cattron has demonstrated an ability to successfully grow in a difficult business environment by delivering advanced, high-quality products. We are looking forward to working closely with the company."

RFI Investment Partners, a federal Small Business Investment Company (SBIC) specializing in equity investments, and Argosy Investment Partners, an investment group specializing in mezzanine capital, also contributed "significant capital to support management and its growth plan," according to the statement.

Bob McIntire, president of The McIntire Group, and Frank Evans, principal of Smith/Evans/Carrier, served as the deal's transaction agents.

Sharpsville, Pa.-based Cattron Group was founded in 1946 by Jim Cattron who, as a one-man operation, repaired Motorola two-way radios for police and fire stations in nearby Sharon, Pa. But remote control is Cattron-Theimeg’s current claim to fame. The company has implemented more than 10,000 railroad-related installations worldwide; its total installed base numbers more than 100,000 remote-controlled systems in a range of industries — including railroads, shipyards, mining, aerospace, steel, military and material handling.

Founded in 1982, Weatherly Private Capital specializes in management-led buy-outs, and has completed more than $3 billion worth of corporate acquisitions and transactions.

Contact Progressive Railroading editorial staff.

More News from 6/10/2003