Stephens Group Grabs Majority Stake In Summit Industrial

Law360, New York (November 3, 2011, 6:28 PM EDT) -- Arkansas-based private equity firm The Stephens Group LLC will make a majority equity investment in heavy industrial construction company Summit Industrial Construction LLC, the firm announced Thursday.

Summit, headquartered in Alpharetta, Ga., said the transaction will position the company for growth and expand service capabilities for its clients.

Under the transaction agreement, ex-Teton Industrial Construction executive Jim Watson will become Summit's chairman of the board and ex-Vratsinas Construction Co. president Jeff Johnson will take over as CEO. Additional details of the transaction were not disclosed....
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