Prophet Equity To Acquire Assets of Keywell L.L.C.

CHICAGO, IL.–(BUSINESS WIRE)— The U.S. Bankruptcy Court in the Northern District of Illinois today approved a sale order pursuant to which KW Metals, LLC, an entity formed and controlled by Prophet Equity, a private equity firm based in Southlake, Texas, is authorized to complete the purchase of assets of Keywell L.L.C., an Illinois limited liability … Read more

Doug Chapple Joins Prophet Equity as President and COO of Francis Drilling Fluids & HLI Energy Services

May 1, 2013 Southlake, TX- Prophet Equity (“Prophet”) announces today that it has appointed Doug Chapple as President and Chief Operating Officer of two of its portfolio companies, Francis Drilling Fluids and HLI Energy Services. “Having worked with Doug to successfully deliver tremendous value to investors in prior portfolio companies, I am thrilled to reunite … Read more

Prophet Equity’s Allegiance Crane Completes Action Crane Service Acquisition, Expanding its Crane Fleet and Service Line in South Florida

Southlake, TX- Prophet Equity announces today that its portfolio company, Allegiance Crane & Equipment, LLC (“Allegiance”), a provider of crane and rigging services, has completed the purchase of the assets of Action Crane Service, Inc. (“Action Crane”), based in Fort Lauderdale, Florida. The combined business will operate as Allegiance Crane & Equipment, LLC. Ross Gatlin, … Read more

Prophet Equity LP Acquires Market Leading Automotive Platform

January 15, 2013 – Prophet Equity LP announced today that it has acquired Hatch Stamping Company (“Hatch”) out of Chelsea, MI. Under the terms of the transaction, Ron Hatch, former majority owner and CEO of Hatch, Dan Craig, Hatch President, and Chris Parrott, Hatch CFO, will have significant roles and ownership in the company going … Read more

Prophet Equity Ends Banner 2012 With Auto-Parts Platform Deal

By Laura Kreutzer | Chelsea, Mich. Prophet Equity has wrapped up one of its busiest years yet with an investment in auto part maker Hatch Stamping Co. Prophet’s investment in the Chelsea, Mich.-based Hatch marks Prophet’s fourth deal in 2012. Earlier in the year, the firm invested in medical uniform retailer Tafford Uniforms LLC, an … Read more

Prophet Equity’s Allegiance Crane completes USA Mobile Acquisition

Southlake, TX- September 10, 2012 – Prophet Equity announces today that its portfolio company Allegiance Crane & Equipment, LLC (“Allegiance”), a provider of crane and rigging services, has completed the purchase of the assets of USA Mobile Crane, LLC (“USA Mobile Crane”). The combined business will operate as Allegiance Crane & Equipment, LLC. Ross Gatlin, … Read more

Seeking a Few Good Companies

July 20, 2012 Southlake-based private equity firm Prophet Equity LP has made its reputation turning around companies that have underperformed. The turnaround shop specializes in buying distressed middle market companies (up to $500 million in revenues) and improving operations to boost cash flow. Using an evaluation process called “Holistic Value Creation,” the firm has made … Read more