SOURCE: Generational Equity

Generational Equity

May 04, 2009 19:32 ET

Generational Equity Announces Sale of Pyramid Technologies, Inc. to Private Equity Firm Hanover Partners

DALLAS, TX--(Marketwire - May 4, 2009) - Generational Equity, an advisor to privately held and family-owned businesses for mergers, acquisitions, and strategic growth initiatives, announced the sale of its client Pyramid Technologies, Inc., a Mesa, Ariz.-based manufacturer of proprietary and patented bill acceptors and currency validation equipment, to private equity investor Hanover Partners, Inc. The amount of the transaction was not disclosed.

Pyramid Technologies manufactures equipment used in slot machines, vending machines and other equipment where currency is accepted without human attendants. Pyramid's products currently support nearly 60 international currencies. Founded in 1994, Hanover Partners, Inc. is a private investment company that acquires smaller U.S.-based middle-market businesses with earnings of over $1.5 million.

With the transaction, Pyramid Technologies' owners will retain a stake in the company, using additional capital to help with the firm's growth plan. "It was very important for us to find a buyer that is committed to building upon Pyramid's success," said David Mays, founder of Pyramid Technologies. "Generational Equity helped us find a partner in Hanover that is focused on just that."

In May 2007, Pyramid Technologies retained Generational Equity to provide business valuation and exit planning services. Generational Equity assisted in identifying a buyer, securing a competitive offer and negotiating the transaction.

"We marketed Pyramid to a tight-knit group of strategic buyers and private equity groups including international prospects due to the client's large volume of foreign sales," said Eric Sanderson, Generational Equity's lead managing director for the transaction.

Andrew Ford of Hanover Partners said, "We're excited to have completed the Pyramid acquisition. It's a great company with an impressive product offering and international distribution channel. Pyramid is a continued example of our strategy of acquiring manufacturers of highly engineered, proprietary products. We look forward to working with Dave Mays and the Pyramid team to continue the company's tremendous growth, domestically and internationally."

About Generational Equity

Generational Equity is one of the nation's leading middle-market mergers and acquisitions companies, providing private business owners with the information and expertise they require to exit their business successfully. A unique, four-phase approach that includes education, financial analysis and reporting, sales documentation and deal-making ability combine to offer business owners an unparalleled level of commitment and experience, all focused on helping to release the generational equity and wealth in every business.

Generational Equity has more than 300 professionals and affiliates nationwide and is headquartered in Dallas, with affiliate offices in New York, Chicago and Irvine, Calif. For more information, contact Generational Equity at 877-213-1792 or, or visit

About Pyramid Technologies, Inc.

Pyramid Technologies, Inc. is a leading manufacturer of proprietary, patented bill acceptors; also known as bank note validators and currency validation equipment, used in slot machines, vending machines, amusement devices and other equipment. The products are a sophisticated combination of electro-mechanical hardware and software with capabilities to currently support 57 international currencies. Based in Arizona, Pyramid products are sold worldwide.

About Hanover Partners, Inc.

Founded in 1994, Hanover Partners, Inc. is a buyout sponsor with offices in Portland, OR and San Francisco, CA. Hanover and its institutional partners provide all the equity and debt to acquire majority positions in lower middle-market manufacturers with highly engineered products, as well as consumer products and business services companies, with operating income of at least $1.5 million and operating margins exceeding 10%.

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