SOURCE: Cotton Creek Capital

Cotton Creek Capital

June 18, 2012 09:00 ET

Chain Electric Company Recapitalized by Cotton Creek Capital in Support of Continued Growth

DALLAS, TEXAS--(Marketwire - Jun 18, 2012) - Chain Electric Company and Cotton Creek Capital Management II, LLC are pleased to announce the recapitalization of Chain Electric in support of the Company's continued growth and geographic expansion. Based in Hattiesburg, MS, Chain Electric is a leading regional provider of power line installation and maintenance services, primarily servicing the distribution and transmission grids across the Gulf Coast and Midwest. Founded in 1955 by Bobby Chain, Chain Electric has developed a long-standing reputation in the industry as a safe, reliable and trustworthy service provider. The investment by Cotton Creek, through its latest private equity fund, Cotton Creek Capital Partners II, L.P., will be made in conjunction with the Chain family who will remain significant shareholders in the Company.

Chain Electric will continue to be led by its President and CEO, Bob Chain, Jr., and Senior Vice President and COO, John Chain, both of whom have been managing the Company for more than a decade. As a part of the recapitalization, Bobby Chain will become Chairman of the Company.

"As one of the oldest service providers in the Southeast, Chain has built a business around the strength of our character, quality of our service, and focus on our customers. The capital and resources that come from our partnership with Cotton Creek will enable us to continue to grow and expand our business while maintaining the family values that have made us an employer of choice. We look forward to continuing the strong legacy my father began in 1955 by always placing the highest priority on our customers and safety," said Bob Chain.

"We look forward to partnering with Bob, John, and the rest of the Chain Electric team in support of continued growth," said Cotton Creek Managing Director, Antonio J. DiGesualdo, "Through the continued leadership of Bob and John Chain and the capital flexibility provided by the recapitalization, we anticipate a substantial investment in specialized equipment and skilled workforce to further establish Chain Electric as a leader in the power line services market."

About Chain Electric Company
Founded in 1955 by Bobby Chain, Chain Electric Company was launched with a 1950 Chevrolet truck, and a character and determination that still define the Company today. Today, Chain Electric has over 600 employees and is one of the oldest providers of energy solutions in the country providing complete transmission, distribution, substation, and storm recovery across 15 states, as well as commercial and industrial electrical solutions services across much of Mississippi. Chain Electric specializes in challenging terrains, including mud, swamp, and marsh work, and possesses one of the largest fleets of amphibious equipment in the industry. Headquartered in Hattiesburg, MS, Chain Electric also maintains locations in Lafayette, LA, and Monroe, LA. For more information, visit Chain Electric's website at www.chainelectric.com.

About Cotton Creek Capital
Cotton Creek Capital is a Dallas-based private equity firm focused on investing in and growing established lower middle market companies in manufacturing, value-added distribution, industrial services, energy, business services, healthcare services and consumer staples. The firm invests in companies with enterprise values between $15 million and $200 million through transactions ranging from buyouts, recapitalizations, buy-and-builds, and corporate divestitures to selected minority investments. Cotton Creek Capital is affiliated with Brownlie & Braden, LLC, a provider of financial advisory services to high net worth families for over 20 years. For further information, visit Cotton Creek's website at www.cottoncreekcapital.com.