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.
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.”