PITTSBURGH--(BUSINESS WIRE)--A major Chinese manufacturing corporation is investing millions of dollars into western Pennsylvania by buying a venerable local company—thanks to Blue Water Growth, which brokered the deal.
Blue Water Growth, a Pittsburgh-based global merger and acquisition consulting firm with extensive on-the-ground experience and expertise in China, today announced that Shenda Electric of Jiangshan, China has acquired R. E. Uptegraff Manufacturing Company of Scottdale, Pennsylvania, a Blue Water client.
“R. E. Uptegraff has an 82 year history of quality manufacturing here in western Pennsylvania,” said David Iwinski Jr., managing director of Blue Water Growth. “The expansion plans and capital that a global giant like Shenda Electric can provide will lead to investment, job growth and new opportunities that should enable this respected Pennsylvania firm to continue to prosper for another 82 years and beyond.”
R. E. Uptegraff Manufacturing Company, located about 40 miles southeast of Pittsburgh, has engaged exclusively in the design and manufacture of high quality transformers and reactors for domestic and international utilities and manufacturers. Its acquisition by Shenda Electric, one of the largest manufacturers of transformers for the China market, will enable Uptegraff to expand further into developing markets and significantly grow its domestic market.
“Finding and securing an appropriate and committed investor was critical to keeping this specialist energy-sector company manufacturing in the region,” said Roger Cranville of The Pittsburgh China Center, which initially introduced Uptegraff management to Blue Water Growth. “Blue Water Growth has the depth of experience required for this type of complex deal and fully utilized its broad-ranging expertise to bring this significant job-creating investment from China to the Pittsburgh region.”
Brokering the transaction was a complicated process in which Blue Water helped Uptegraff understand and overcome the many differences between China and the United States in culture, business practices, laws and regulations. “We were shepherded through this very complicated process by David Iwinski and the Blue Water team,” said Uptegraff President Susan Endersbe. “We are very grateful for their unrelenting energy, their optimism and their skill. For neophytes negotiating this kind of cross-cultural maze, the knowledge, network, and expertise that Blue Water Growth brings to the table is essential.”
About Blue Water Growth LLC:
Blue Water Growth is a global business consulting firm with extensive on-the-ground experience and expertise in Asia. Its services include merger and acquisition guidance, private capital solutions, product distribution, production outsourcing, and a wide variety of business advisory services for its Western and Asian clients.