This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Platte River Equity Announces The Sale Of Hetsco, Inc.

Stocks in this article: GLPW

DENVER, May 1, 2013 /PRNewswire/ -- Platte River Equity ("Platte River") today announced the sale of its portfolio company, Hetsco, Inc. ("Hetsco") to Global Power Equipment Group Inc. (Nasdaq: GLPW) ("Global Power"). 

Headquartered in Greenwood, Indiana and founded in 1981, Hetsco is the leading provider of emergency and planned repairs for brazed aluminum heat exchangers, the critical process equipment used in air separation and other gas processing applications.  Hetsco also provides maintenance, fabrication, construction, relocation and safety services to the leading industrial gas, gas processing, LNG and utility companies. 

"We are proud of Hetsco's development over the past several years under the leadership of Sam Willard and Steve Powell," said Platte River Managing Director Peter Calamari.  "In this environment of increasing investment in industrial gas production and processing, Hetsco is poised for continued success.  We are also pleased that the company will be owned by Global Power, a strong and supportive new partner for Hetsco and its employees."

Sam Willard, President of Hetsco, commented, "The financial, strategic and operational support Platte River has provided to Hetsco over the last five years has been invaluable.  We accomplished all we had set out to do, and Platte River was a critical partner in our success.  We look forward to a new chapter of continued growth with Global Power."

Luis Manuel Ramírez, President and Chief Executive Officer of Global Power, commented, "We are pleased with the successful closing of this transaction and eager to work with the Hetsco team to develop new opportunities for the expansion of our Services Division."

Bartlit Beck Herman Palenchar & Scott LLP served as legal counsel to Platte River, and St. Charles Capital served as the exclusive financial advisor to Hetsco.  Thompson Hine LLP served as legal counsel and TM Capital served as financial advisor to Global Power.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs