Investment Summary

Geneva Exits Covington Power Services

On October 14, 2011, invested in distribution company Covington Power Services from Geneva

Investment Highlights
  • This is transaction in the Distribution sector.
  • This is transaction in the United States.
  • This is transaction in North Carolina.

Investment Summary

Date 2011-10-14
Target Covington Power Services
Sector Distribution
Sellers(s) Geneva
Deal Type Trade Sale

Target

Covington Power Services

Greensboro, North Carolina, United States
Covington Power Services, a market-leading distributor, is authorized by Detroit Diesel, Allison Transmission and MTU Detroit Diesel and is a master warehouse for Muncie Power Products. Covington provides diesel engine solutions, branded by Detroit Diesel, Mercedes Benz and MTU, from 30 to 10,000 horsepower. In addition Covington represents MTU Detroit Diesel generators from 20 to 3,200 kW, Allison transmissions and Muncie Power Products PTOs. With nine branches in NC, TN and GA, Covington offers products, parts and service 24 hours a day to customers in the On Highway Transportation, Construction, Industrial, Marine and Power Generation markets. Covington has been serving a diversified customer base since 1965 and is one of the largest distributorships for the products represented.

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Seller(S) 1

SELLER

Geneva

Greensboro, North Carolina, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1979
Size Small
Type Sector Agnostic
DESCRIPTION

Geneva Corporation is an investment firm focused on acquiring mid-sized businesses operating in the Southeast US. Geneva generally targets companies with established products/brands, 'protected territories', and 'a strong company position within the market place'. Prospective companies typically have $25 to $100 million in annual sales and operate in the distribution, services or light manufacturing sectors. Geneva was formed in 1979 and is based in Greensboro, North Carolina.


DEAL STATS #
Overall 1 of 1
Sector: Distribution M&A 1 of 1
Type: Trade Sale M&A Deals 1 of 1
State: North Carolina M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Nixon Energy Solutions

Brentwood, Tennessee, United States

Nixon Energy Solutions, headquartered in Nashville, TN, is an exclusive distributor for GE Jenbacher gas generators. Serving the Southeastern and Middle Atlantic United States through the sale and technical support of power generation equipment, parts and accessories, Nixon specifically targets efficient use of America’s green power resources such as landfill and biomass gases. As a key player in the energy industry for more than a century, General Electric is the number one provider of high technology power generation equipment and services in the world.

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