Brown Gibbons Lang & Company (BGL) announced the recapitalization of CCPI, Inc. (CCPI), a developer, manufacturer and marketer of highly engineered refractory products and outsourced refractory services, temperature test and measurement devices and calibration services, precision wire and other consumable products, by Prospect Capital Corporation.

The transaction represents another successful outcome for BGL’s Industrial Sector practice, the company said in a press release.

Established in 1957 and headquartered in Blanchester, Ohio, CCPI’s mission critical products are used in multiple applications, including specialty steel and aluminum production and high precision heat treating for the aerospace, glass, and medical markets.

“The entire BGL team understood our objectives and worked creatively and tenaciously throughout the entire process to achieve an excellent result for our employees and shareholders,” said Bruce Mickey, CCPI’s chairman. Mike Williams, CCPI’s president and CEO said, “The senior managers of CCPI, who have invested alongside Prospect in the recapitalization, look forward to growing CCPI’s product and service capabilities to further enhance the value we bring to our customers. The BGL team had a keen understanding of our business and end markets, which was essential to driving a competitive global process.”

Andrew Petryk, a managing director at BGL, commented, “CCPI is a differentiated engineering and technical service focused business that brings tremendous value to its customers’ critical operations. We are pleased to have been a part of this transaction that will continue the growth of CCPI’s impressive highly engineered product suite, technical capabilities, and outsourced services.”

Andrew Petryk and Kevin Sargent led the BGL transaction team. Jay Vorys and Bruce Paige of Vorys, Sater, Seymour and Pease served as CCPI’s legal counsel.

Brown Gibbons Lang & Company is an independent investment bank serving the middle market. BGL specializes in mergers & acquisitions advisory services, debt and equity placements, financial restructuring advice and valuations and financial opinions.