News, views & analysis blogs by: Edward P. Richards, Jr.





Subject

Edward P. Richards, Jr. :
CapitalWorks, LLC has acquired Engine Control Systems (ECS)


Article:

Edward P. Richards, Jr. :
CapitalWorks, LLC has acquired the Engine Control Systems (ECS) business from The Lubrizol Corporation. Engine Control Systems has three North American locations in Newmarket, Ontario (headquarters), London, Ontario, and Reno Nevada, which will operate after the sale under the name Engine Control Systems (ECS)(http://www.enginecontrolsystems.com) . Engine Control Systems Europe AB located in Malmo, Sweden (http://www.ecseurope.se) will continue to operate under its current name.

This transaction insures the continuity of management, facilities and business objectives. We are excited by the transaction and believe that ECS, as an independent entrepreneurial company, has the opportunity to become stronger, more focused and more responsive to its target markets and customers, said Ed
Richards, President of ECS. We are extremely pleased to have CapitalWorks as a partner in this transaction as it insures ECS will be well capitalized with the financial resources to invest in its business and increase its commitment to new product development to meet rapidly growing opportunities in the emissions reduction market.

In 2005, ECS enjoyed record revenues as a leading supplier of emissions control products to regulated and unregulated markets in the North America, the European Union, and developing countries. Many of ECS products have approvals issued under United States EPA, the California Air Resources Board, Sweden Environmental Zones, Swiss VERT Programs, UK Energy Savings Trust and other governmental agencies around the world. CapitalWorks is investing significant equity capital, giving ECS a strong financial foundation for growth. As a result, ECS does not anticipate any material changes to its relationships with customers, suppliers or regulatory agencies.


About CapitalWorks:
CapitalWorks, LLC is a Cleveland, Ohio-based private equity firm focusing on management buyouts and growth equity investments.


























































































































































































































































































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