Omega Morgan Receives Private Equity Investment
Omega Morgan, Inc., a Portland area-based large heavy equipment moving and industrial services company, has received a private equity investment of undisclosed amount.
The round was led by Riverlake Partners, LLC, with participation from Columbia Investments Ltd., which is managed by Portland investor Peter Stott.
Riverlake made the investment through its second fund, Riverlake Equity Partners II, LP.
The company intends to use the proceeds from the financing to purchase cost-intensive equipment, to upgrade information technology and add experienced management professionals to help guide the company as it expands into new markets (the Phoenix area and British Columbia, Canada).
The first executive to join the company is former Warn Industries CEO John McCalla, who takes over as CEO. Current president Jeff Morgan will transition to a vice president’s role.
Founded in 1991 by the Morgan family, the company currently offers national and international services for specialized heavy rigging and transportation, machinery moving, crating and packaging, industrial construction and process equipment moves in a clean room environment.