Azalea Capital Announces Sale of PSG

Azalea Capital is pleased to announce that Power Services Group (“PSG”), a portfolio investment of The Azalea Fund III, L.P., has been acquired by Center Rock Capital Partners.  PSG, headquartered in Cape Coral, FL, offers turnkey solutions for maintenance, repair and overhaul of steam, gas, and wind turbines, as well as related power generating assets and systems.  The company provides its services to major U.S. and internationally based clients operating in the power generation and industrial process markets.  Keith Ravan, CEO, and PSG’s full leadership team will remain with the Company.  TM Capital of Atlanta, GA represented PSG in the transaction.

Center Rock Capital Partners is a Midwest-based private equity firm focused on building leading industrial companies in the lower middle market.

Azalea Capital is a private investment firm headquartered in Greenville, SC.  Azalea partners with entrepreneurs, management teams, and family-owned companies by providing investment capital, operating expertise, and industry experience to enhance the long-term value and growth prospects for every company.  Azalea’s primary focus is to invest in companies located in the Southern and Midwest regions of the U.S., which operate in the Agriculture, Food, Pet, and Industrial Services markets.

For additional information about Azalea Capital and its family of investment funds, please call or visit our website at www.azaleacapital.com.