VSI Announces Jesse (JB) Blackwelder as new Chief Financial Officer

PRESS RELEASE

Cleveland, OH July 7, 2016 /PRNEWSWIRE/ - The Board of Directors of VSI Global, LLC (“VSI”), a portfolio company of Lakewood Capital, LLC and Spartacus Partners LLC, announced Jesse B. (JB) Blackwelder as the new Chief Financial Officer of VSI, effective July 11, 2016.  Mr. Blackwelder joins VSI having most recently served as Chief Financial Officer of Crown Battery Manufacturing Companies, where he led the company’s finance function, including numerous data analysis initiatives that contributed to the company achieving the highest profits in its history.

JB began his career at Arthur Anderson after graduating with a B.A. in Economics from Stanford University and having played for the Stanford Golf Team. Following Arthur Anderson, JB rose to Regional CFO at Enterprise Rent-A-Car before becoming CFO of Thorson Companies in Sandusky, OH. JB stated, “I had been looking for a business where I felt I could contribute not only in the finance space but across all key areas of a growing business. VSI’s entrepreneurial spirit, institutional ownership, and focus on building a world class organization was a perfect fit for me.”

Roger Knight, Chairman of VSI and Managing Partner of Lakewood Capital and Spartacus Partners, noted, “I am extremely pleased to have someone of JB’s caliber and experience joining the senior management ranks of VSI. Since our acquisition of the Company in February 2015, we have been putting in place the infrastructure and building blocks to ensure state-of-the-art service and care to our rapidly expanding customer base. JB is an integral part of that process and we are confident he will contribute significantly to managing our growth over the coming years.”

Max Lambright, Chief Executive Officer of VSI added, “JB has spent many years in larger organizations developing best practices across all aspects of those organizations. I look forward to teaming with him and the rest of the VSI team in furthering our goals for VSI as a world class provider of repair and remanufacturing services to national and multi-national customers across a wide spectrum of industries and disciplines.”

VSI Global is an international provider of repair and remanufacturing services to a broad client base, including a number of the largest retail companies in the world. The Company’s services provide its customers with a turnkey operation, lowering overall maintenance costs, increasing efficiency at the operations and corporate levels, and providing data analytics valuable to identifying and supporting best practice initiatives. Additional information is available at www.vsiglobal.com and by contacting Max Lambright, Chief Executive Officer: 800-997-8227 x212 mlambright@vsiglobal.com.

 

About Lakewood Capital:
Lakewood Capital was formed in 2007 to team with operating management to make control investments in private companies active in the lower middle market. Lakewood targets businesses that have developed a strong position in their core markets and are facing opportunities/challenges/transition as they move toward the next stage of their developments. Lower middle market businesses often reach a point where their existing resources, be they financial, operational or human, need to be expanded, adjusted and/or reallocated to continue to prosper. These times often occur when founding management seeks less active involvement, new market opportunities arise, growth outstrips current capacity, and/or the competitive landscape changes. Lakewood prides itself on partnering with existing management to capitalize on these times of transition, with the mutual goal of building stronger, more dynamic, more competitive operations in the process. Additional information is available at www.lakewoodcap.com and by reaching Roger Knight, Managing Director: 203-604-0863 rknight@lakewoodcap.com.

 

 

About Spartacus Partners:
Spartacus Partners was established in 2015 as a sister company to Lakewood Capital, providing capital from family offices, and high net worth individuals to opportunities with an initial requirement below the target markets for Lakewood’s institutional partners. The close connection with Lakewood enables Spartacus investments to access resources atypical for businesses in their size range, while expanding the universe of potential opportunities investors associated with Lakewood can access.

 

Acquisition of Vacuum Systems International, Inc.

Lakewood Capital is pleased to announce that a group of investors led by Lakewood Capital and including existing management has acquired Vacuum Systems International, Inc. through a newly formed entity, VSI International (“VSI”).

Lakewood Capital Summer Associate, George Roux

Lakewood Capital is pleased to announce that George Roux will be joining our staff as a Summer Associate. George is a rising senior at the University of Southern California and is working towards a BA in Philosophy, Politics, & Law with a minor in Accounting.

Dynamic Healthcare Services Acquires RespaTech, LLC of Kenvil, New Jersey

PRESS RELEASE

Dynamic Healthcare Services, Inc. ("DHS"), a portfolio company of GMH Ventures LLC ("GMH") and Lakewood Capital, LLC, announced today that it acquired RespaTech, LLC ("RespaTech") of Kenvil, NJ on March 31, 2014. The terms of the acquisition were not disclosed.  RespaTech is full-service home medical equipment ("HME") company providing a wide range of respiratory, sleep, mobility, durable medical equipment products and services to customers in the New Jersey market.

Dynamic Healthcare Services Announces Michael Grabko as New Chief Executive Officer

PRESS RELEASE

The Board of Directors of Dynamic Healthcare Services, Inc. ("DHS"), a portfolio company of GMH Ventures LLC ("GMH") and Lakewood Capital, LLC, announced Michael Grabko as new Chief Executive Officer effective March 24, 2014. Mr. Grabko joins DHS having most recently served as Senior Vice President at Univita Health, Inc.

Dynamic Healthcare Services Acquires Reliable Medical Inc. of Hackensack, New Jersey

PRESS RELEASE

Dynamic Healthcare Services, Inc. ("DHS"), a portfolio company of GMH Ventures LLC ("GMH") and Lakewood Capital, LLC, announced today that it acquired Reliable Home Medical Equipment, Inc. ("Reliable") of Hackensack, NJ on February 10th, 2014. The terms of the acquisition were not disclosed.  Reliable is a full service home medical equipment ("HME") company providing a wide range of respiratory,  sleep, mobility, durable medical equipment products and services to customers in the New York and New Jersey metro market.

Dynamic Healthcare Services Completes Progressive Home Medical Equipment of Clarion, PA Investment

Dynamic Healthcare Services, Inc. ("DHS"), a portfolio company of GMH Ventures LLC ("GMH"), announced today that it acquired Progressive Home Medical Equipment, Inc. ("Progressive") of Clarion, PA on January 7, 2014. The terms of the acquisition were not disclosed. Progressive is a full service durable medical equipment ("DME") company providing a wide range of sleep, mobility, and respiratory products to customers in the western Pennsylvania and Pittsburgh markets.

Lakewood Capital Announces Sale of Eliason Corporation

Lakewood Capital, LLC announced today that its portfolio company, Eliason Corporation, was acquired by Sentinel Partners.  Lakewood and Milestone Partners acquired Eliason in February 2008 from the Estate of Wanda Eliason. 

Dynamic Healthcare Services Acquires HomeTown Oxygen, Pittsburgh, LLC of Monroeville, PA

Dynamic Healthcare Services, Inc. ("DHS") a portfolio company of GMH Ventures LLC ("GMH") announced today that it acquired HomeTown Oxygen, Pittsburgh, LLC ("HomeTown") of Monroeville, PA on November 8, 2012. The terms of the acquisition were not disclosed. HomeTown is a full service distributor of medical products and equipment including respiratory and sleep apnea equipment in Pennsylvania.  HomeTown, with locations in Monroeville and Latrobe, was founded in 2007 and has achieved significant growth in its short existence.

Acquistion of Dynamic Healthcare Services, Inc.

PRESS RELEASE

Lakewood Capital is pleased to announce that a group led by Lakewood, GMH Ventures, Terry Luft and other existing members of management, has acquired Dynamic Healthcare Services, Inc., Harrisburg, PA, one of the region’s leading providers of home medical equipment and respiratory therapy products and services.

Eliason Corp. closes debt refinancing with Fifth Third Bank

PRESS RELEASE

Eliason Corporation, a manufacturer of specialty commercial doors, closed a refinancing transaction on December 16th, 2011. Fifth Third Bank has provided the new senior credit facility and Midwest Mezzanine Fund remains the subordinated lender to Eliason.

Eliason Corp. acquires CMI Doors

PRESS RELEASE

Lakewood Capital is pleased to announce that its portfolio company, Eliason Corporation, Kalamazoo, MI, one of the leading manufacturers of high-impact traffic doors in the nation, has acquired CMI Doors of Winnipeg, Manitoba. CMI specializes in high quality traffic doors sold to industrial customers in Canada and parts of the United States, and is led by industry veteran Bob Vermette.