Parkline, Inc. recently completed a recapitalization of the Company in partnership with Summit Park, a Charlotte, North Carolina based private investment firm. The transaction, which closed on April 24, 2012, will provide Parkline additional capital to support its growth initiatives.
Since its inception in 1973, the Company has established itself as the leading provider of highly engineered, self-framing metal buildings in the United States. Parkline’s buildings can be erected at the customers’ site or pre-erected at the Company’s facility in Eleanor, West Virginia.
Parkline’s partnership with Summit Park provides the Company with additional financial resources to accelerate the implementation of several growth initiatives. Management believes that a new pre-erected assembly facility west of the Mississippi River will enable the Company to meet its customers’ needs on a more cost effective basis, and Parkline is currently evaluating several alternative locations. "There is significant demand for our pre-erected structures from electric utility and energy customers in the Western U.S.," states Ron Dawson, Vice President of Sales at Parkline, "and we believe that we can serve their needs more efficiently from a satellite location. The evaluation of several potential locations is ongoing."
In addition, Parkline has successfully provided integrated control houses to a number of electric utility customers and intends to expand its capabilities in this area. According to Dawson, "Many of our customers are seeking a single source solution for their control house requirements, and we intend to expand our capabilities to support their needs." These capabilities may be developed internally, through partnerships or through strategic acquisitions. With its strength in both site-erected and pre-erected buildings, Parkline uniquely offers its customers significant flexibility in meeting their small metal building requirements.
Parkline provides industrial metal buildings for various end markets, such as wastewater treatment, electrical utility, wind energy, self-storage, oil and gas transmission and distribution, and telecommunications. Each building is designed to meet the specific needs of the customer, and can be erected on-site, or fully assembled in the Company’s new pre-erected facility and shipped directly to the site. Parkline’s employees have always been, and will remain, focused on emphasizing customer satisfaction, high-quality standards, and finished products that meet every criteria outlined by the customer.
Summit Park, based in Charlotte, North Carolina, is a private investment firm with experience across a wide range of industries. As a growth-oriented investor group, Summit Park focuses on companies with a track record of consistent financial performance and the potential to realize substantial, profitable growth in the future.