Manufacturing Buyout Acquisitions in 2018
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December 31, 2018
- Buyer
- BERKS Group
- Target
- Swiss‑Tech, LLC
- Industry
- Manufacturing
- Location
- Wisconsin, United States
- Type
- Buyout
BERKS Group, a division of the News‑Press & Gazette Company, completed the acquisition of Swiss‑Tech, LLC. Swiss‑Tech — a precision CNC Swiss machining and contract manufacturer serving medical, aerospace and industrial end markets — will serve as a platform investment and its management team will remain in place as BERKS plans capital investments to support growth.
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December 20, 2018
- Buyer
- Allied Motion Technologies Inc.
- Target
- TCI, LLC (Transcoil)
- Industry
- Manufacturing
- Location
- Wisconsin, United States
- Type
- Buyout
Allied Motion Technologies Inc. acquired TCI, LLC (doing business as Transcoil), a Germantown, Wisconsin-based designer and manufacturer of power quality and magnetic assembly products. Allied Motion said the deal expands its controlled motion solutions portfolio, enhances manufacturing capabilities and margins, and will help extend TCI's international distribution reach.
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December 19, 2018
- Buyer
- Covington Partners LLC
- Target
- Grand Traverse Plastics Corp.
- Industry
- Manufacturing
- Location
- Michigan, United States
- Type
- Buyout
Covington Partners LLC has acquired Grand Traverse Plastics Corp., a Williamsburg, Michigan-based designer and manufacturer of engineered plastic assemblies serving automotive under-the-hood and material-handling markets. Angle Advisors served as exclusive advisor to Grand Traverse Plastics on the transaction, which positions Covington to invest in specialized injection-molding and value-added assembly capabilities for automotive and industrial end markets.
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November 16, 2018
- Buyer
- American Securities LLC, CPM management team (co-investor)
- Target
- CPM Holdings, Inc.
- Seller
- Majority shareholder (unnamed)
- Industry
- Manufacturing
- Location
- Iowa, United States
- Type
- Buyout
American Securities LLC has closed its acquisition of CPM Holdings, Inc., a global designer and manufacturer of engineered process equipment for animal feed, oilseed processing, extrusion and thermal processing. The transaction was completed in partnership with CPM's management team; financial terms were not disclosed. CPM, headquartered in Waterloo, Iowa, has more than 1,000 employees and serves a global customer base across North America, Europe, Asia and Latin America.
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- Buyer
- Harwood Capital, LDC
- Target
- Curtis Gilmour Holding Company, Inc., Pelsis Ltd.
- Industry
- Manufacturing
- Location
- Georgia, United States
- Type
- Buyout
Harwood Capital’s portfolio company Curtis Gilmour has merged with Pelsis Ltd., a portfolio company of LDC, combining complementary pest-control product lines and global distribution footprints. The consolidated group will be led by Pelsis Group CEO Peter Mangion and continue to operate from existing U.S. and European facilities; financial terms were not disclosed.
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November 12, 2018
- Buyer
- Plastivaloire Group
- Target
- TransNav Corporation
- Industry
- Manufacturing
- Location
- Michigan, United States
- Type
- Buyout
Plastivaloire Group has acquired TransNav Corporation, a vertically integrated manufacturer of engineered plastic components and assemblies based in New Baltimore, Michigan. The deal expands Plastivaloire's footprint into the United States and adds three manufacturing sites (Michigan, Kentucky and Puebla, Mexico), strengthening its automotive, retail and industrial product capabilities and taking proforma revenue to nearly €750 million.
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November 9, 2018
- Buyer
- Applied Adhesives (division of Applied Products, Inc.)
- Target
- Prairie Technology Group, Inc.
- Industry
- Manufacturing
- Location
- Texas, United States
- Type
- Buyout
Applied Adhesives, a division of Applied Products, Inc., has acquired Prairie Technology Group, a Hutto, Texas-based supplier of epoxy, polyurethane, acrylic adhesives, release agents, silicones and sealants. The buyer said it will build on Prairie’s capabilities and expand its value proposition across the United States and Mexico as part of its recent roll-up activity in the adhesives sector.
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November 7, 2018
- Buyer
- MavenHill Capital
- Target
- Gasser & Sons
- Seller
- Gasser family
- Industry
- Manufacturing
- Location
- New York, United States
- Type
- Buyout
MavenHill Capital, a lower middle market private equity firm, has acquired Gasser & Sons, a family-owned precision metalforming and component manufacturing business based in Commack, New York. The transaction transfers ownership from the Gasser family to MavenHill and positions the firm to continue and expand Gasser & Sons' capabilities serving medical, defense, communications and industrial end markets.
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November 1, 2018
- Buyer
- ABEO
- Target
- Fun Spot Manufacturing LLC
- Industry
- Manufacturing
- Location
- Georgia, United States
- Type
- Buyout
ABEO Group has acquired Fun Spot Manufacturing LLC, a Hartwell, Georgia-based designer and manufacturer of equipment for amusement and trampoline parks. The acquisition is intended to strengthen ABEO's footprint in North America and expand its capabilities in the growing "Sportainment" market.
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October 19, 2018
- Buyer
- Kimball (Kimball International, Inc.)
- Target
- David Edward
- Seller
- David Edward shareholders / founding family
- Industry
- Manufacturing
- Location
- Maryland, United States
- Type
- Buyout
Kimball, a brand unit of Kimball International, signed a definitive agreement to acquire substantially all assets of David Edward, a Baltimore-based contract furniture designer and manufacturer. The asset purchase includes leasing two production facilities and the approximately 170 employees; Kimball said the acquisition will expand its seating and ancillary furniture capabilities and is expected to be accretive over time.
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October 12, 2018
- Buyer
- Visual Communications Company (VCC)
- Target
- Wilbrecht LEDCO, Inc.
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Visual Communications Company (VCC) has acquired Wilbrecht LEDCO, Inc., a St. Paul, Minnesota-based electronic components manufacturer known for illuminated indicators and LED products. The acquisition expands VCC's product portfolio—adding night-vision compatible panel-mount LEDs, sealed high-IP indicators and high-voltage LED series—and strengthens its offerings to mission-critical industrial, aerospace and military end markets.
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- Buyer
- Madison Industries
- Target
- Specified Air Solutions
- Seller
- The Sterling Group
- Industry
- Manufacturing
- Location
- Michigan, United States
- Type
- Buyout
Madison Industries has acquired Specified Air Solutions, a multi-branded commercial and industrial HVAC equipment manufacturer headquartered in Grand Rapids, Michigan. The Sterling Group, which launched and built the Specified Air Solutions platform, sold the company to Madison to complement Madison's suite of HVAC and indoor air quality solutions; financial terms were not disclosed.
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- Buyer
- Dayton Parts, LLC (portfolio company of AEA Investors LP)
- Target
- Security Steel Supply Co.
- Seller
- Security Steel Supply Co. (family owners; President David Demers)
- Industry
- Manufacturing
- Location
- Illinois, United States
- Type
- Buyout
Dayton Parts, LLC — a portfolio company of AEA Investors LP — has acquired Security Steel Supply Co., a family-owned supplier of 5160H alloy spring steel and automotive leaf spring suspension components based in Kankakee, Illinois. BDO Capital Advisors served as exclusive financial advisor to Security Steel on the transaction, which expands Dayton Parts' product offerings and distribution footprint in the leaf-spring and undercarriage parts market.
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September 20, 2018
- Buyer
- Blackford Capital, LLC
- Target
- Hall Research Technologies, Inc.
- Seller
- Hall Research shareholders
- Industry
- Manufacturing
- Location
- California, United States
- Type
- Buyout
Blackford Capital, a private equity firm based in Grand Rapids, acquired Hall Research Technologies, a Tustin, California designer and manufacturer of professional A/V hardware and software. Dinan Capital Advisors served as exclusive financial advisor to Hall Research and its shareholders in the majority-control transaction as Blackford looks to expand its lower middle‑market manufacturing portfolio in the Pro AV space.
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August 27, 2018
- Buyer
- Sage Capital LLC
- Target
- Check Corporation
- Industry
- Manufacturing
- Location
- Michigan, United States
- Type
- Buyout
Sage Capital LLC has invested in Check Corporation, a Troy, Michigan-based manufacturer of flexible heating elements, control systems, and related components. The transaction was done in partnership with Check's management (no financial terms disclosed) and was advised by Angle Advisors; Check operates its headquarters and manufacturing facility in Troy with roughly 60 employees.
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July 10, 2018
- Buyer
- Boyne Capital
- Target
- A.S.A.P. Industries Manufacturing, Inc.
- Industry
- Manufacturing
- Location
- Louisiana, United States
- Type
- Buyout
Boyne Capital has acquired A.S.A.P. Industries Manufacturing, a Houma, Louisiana-based manufacturer of high-pressure flow control products and provider of BOP repair and recertification services, as a platform investment in its BCM Fund I. The company is API-certified and specializes in large-diameter, high-pressure components for the oil & gas industry; Boyne said it will partner with management to expand manufacturing capabilities and support a recovering energy market.
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- Buyer
- Excelitas Technologies Corp.
- Target
- Research Electro Optics (REO)
- Industry
- Manufacturing
- Location
- Colorado, United States
- Type
- Buyout
Excelitas Technologies Corp. has completed the acquisition of Research Electro Optics (REO), a Boulder, Colorado-based manufacturer of high-precision optical components, thin-film coatings, optical subassemblies and HeNe lasers. The deal expands Excelitas' optics and photonics manufacturing capabilities and aims to provide OEM customers and defense prime contractors with a broader, single-source portfolio of high-performance illumination, optical and detection solutions.
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July 7, 2018
- Buyer
- Central Wire Industries
- Target
- Loos & Co. Inc.
- Seller
- Loos & Co. Inc. (Loos family)
- Industry
- Manufacturing
- Location
- Connecticut, United States
- Type
- Buyout
Central Wire Industries (CWI), a privately held specialty alloy wire and cable manufacturer, has acquired Loos & Co. Inc., a second-generation family-owned U.S. manufacturer of specialty small-diameter wire, wire rope, cable assemblies and hardware. Loos — with manufacturing operations in Pomfret, Connecticut and Naples, Florida — will join CWI to broaden and diversify CWI's product offerings and end markets. Transaction terms were not disclosed; Carter Morse & Mathias served as exclusive financial advisor to Loos.
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- Buyer
- The Mendota Group
- Target
- Debron Industrial Electronics, Inc.
- Seller
- Ron Bernot (founder and majority shareholder), Other shareholders
- Industry
- Manufacturing
- Location
- Michigan, United States
- Type
- Buyout
The Mendota Group has acquired Debron Industrial Electronics, a Troy, Michigan-based turnkey electronics manufacturer that serves the industrial, automotive, aerospace and energy end markets. Angle Advisors acted as exclusive advisor to Debron; founder and majority shareholder Ron Bernot and other shareholders sold the business while the existing management team will remain to run operations under Mendota's ownership.
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June 28, 2018
- Buyer
- Allegion plc
- Target
- ISONAS
- Industry
- Manufacturing
- Location
- Colorado, United States
- Type
- Buyout
Allegion plc has agreed to acquire Boulder, Colorado-based access control company ISONAS; the deal is expected to close early in the third quarter of 2018, subject to customary conditions. ISONAS, which generated approximately $6 million in net sales in 2017, will operate within Allegion's Americas region and expand Allegion's portfolio of IP-based access control technologies.
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June 5, 2018
- Buyer
- Tramec Sloan LLC, Tramec LLC
- Target
- Fleet Engineers
- Industry
- Manufacturing
- Location
- Michigan, United States
- Type
- Buyout
Tramec Sloan LLC, a subsidiary of Tramec LLC, has acquired Fleet Engineers, a Muskegon, Michigan-based manufacturer and distributor of truck and trailer product solutions. The acquisition will operate Fleet Engineers as an autonomous division in Muskegon and expands Tramec Sloan’s product portfolio and manufacturing footprint in the heavy-duty truck and trailer market.
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June 4, 2018
- Buyer
- Volex PLC
- Target
- MC Electronics LLC
- Seller
- Nova Capital Management, Nova Shell LP, Shell Topco LP
- Industry
- Manufacturing
- Location
- California, United States
- Type
- Buyout
Volex PLC acquired MC Electronics LLC from Nova Capital Management, completing a deal announced in April 2018 and reported in June 2018. MC Electronics, based in Hollister, California with manufacturing in Juarez, Mexico, is a contract manufacturer of custom cables, wire harnesses and electromechanical assemblies for the medical equipment industry; Volex said the acquisition expands its cable assembly capabilities and customer relationships.
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June 1, 2018
- Buyer
- PolyOne Corporation
- Target
- PlastiComp
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
PolyOne Corporation acquired PlastiComp, an advanced engineered materials innovator known for long fiber thermoplastic (LFT) composite formulations. The Winona, Minnesota facility and approximately 50 employees join PolyOne’s Specialty Engineered Materials segment to expand its advanced composites capabilities and accelerate commercial and operational investments in LFT technology.
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May 31, 2018
- Buyer
- Patrick Industries, Inc.
- Target
- Dowco, Inc.
- Seller
- CMW Holding Company
- Industry
- Manufacturing
- Location
- Wisconsin, United States
- Type
- Buyout
Patrick Industries (NASDAQ: PATK) completed the acquisition of Dowco, Inc., a designer and manufacturer of boat covers, bimini tops, enclosures and marine accessories headquartered in Manitowoc, Wisconsin. Dowco generated approximately $37 million in trailing-12-month revenue through April 2018 and will operate as a stand-alone brand within Patrick's portfolio; the seller was CMW Holding Company.
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- Buyer
- Blue Wolf Capital Partners LLC
- Target
- TGW (Holdings) Limited
- Seller
- Richard Wolstenholme, Jeff Litmer
- Industry
- Manufacturing
- Location
- England, United Kingdom
- Type
- Buyout
An affiliate of Blue Wolf Capital Fund IV has acquired a majority stake in TGW (Holdings) Limited, a Sheffield‑founded industrial knife manufacturer with operations in the United Kingdom, United States and India. Blue Wolf said it will partner with TGW's existing management to invest in new products and grow the business while founders Richard Wolstenholme and Jeff Litmer transition oversight to the current management team.
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- Buyer
- Angstrom Automotive Group LLC
- Target
- Engineering Tube Specialties, Inc.
- Seller
- Bill Brothers (President and sole shareholder of ETS)
- Industry
- Manufacturing
- Location
- Michigan, United States
- Type
- Buyout
Angstrom Automotive Group LLC has acquired Engineering Tube Specialties, Inc. (ETS), a Tier 1 supplier of steel tubular assemblies based in Ortonville, Michigan. The transaction, advised by Angle Advisors, transfers ownership from ETS President and sole shareholder Bill Brothers to Angstrom to expand Angstrom’s propulsion and tubular-component capabilities within the automotive supply chain.
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May 3, 2018
- Buyer
- Source Capital, LLC
- Target
- M&M Refrigeration, LLC
- Seller
- Dufferin McConnell
- Industry
- Manufacturing
- Location
- Maryland, United States
- Type
- Buyout
Source Capital, LLC, a lower middle-market private equity firm, has acquired M&M Refrigeration, LLC, a Federalsburg, Maryland-based designer, manufacturer and servicer of industrial refrigeration systems for cold storage, food processing and other industrial applications. Terms were not disclosed; Source Capital said it will partner with M&M's management to grow the business while honoring the company's core values, and founder Dufferin McConnell commented on the ownership transition.
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April 23, 2018
- Buyer
- Fulcrum Capital Partners
- Target
- Athletica Sport Systems
- Industry
- Manufacturing
- Location
- Ontario, Canada
- Type
- Buyout
Fulcrum Capital Partners, a Canadian private equity firm, has acquired Athletica Sport Systems, a designer, manufacturer and installer of arena infrastructure and dasher board systems based in Waterloo, Ontario. The investment — made by Fulcrum's Private Equity Fund V — is described as a platform investment to support Athletica's next phase of growth and leverage Fulcrum's value-creation capabilities.
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March 13, 2018
- Buyer
- LongWater Opportunities, LWO Fund II LP
- Target
- Kalisher
- Industry
- Manufacturing
- Location
- North Carolina, United States
- Type
- Buyout
LongWater Opportunities, via its LWO Fund II, has acquired Kalisher, a creator, curator, and manufacturer of art serving the commercial hospitality sector with additional healthcare and corporate clients. The acquisition will leverage Kalisher's print studio and production capabilities in North Carolina to expand its market reach and drive further growth under LongWater's operational guidance.
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February 27, 2018
- Buyer
- Cathay Capital, Norwest Mezzanine Partners, ORIX Mezzanine & Private Equity
- Target
- Innovative Office Products, LLC
- Seller
- Corridor Capital
- Industry
- Manufacturing
- Location
- Pennsylvania, United States
- Type
- Buyout
Private equity firms Cathay Capital, Norwest Mezzanine Partners and ORIX Mezzanine & Private Equity acquired Innovative Office Products, LLC from Corridor Capital. Innovative, based in Easton, Pennsylvania, designs, manufactures and distributes ergonomic office and POS mounting products and will partner with the new investor group to accelerate international growth and expand end-market penetration.
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February 18, 2018
- Buyer
- Machinists Inc.
- Target
- The Gear Works
- Seller
- The Gear Works' owners
- Industry
- Manufacturing
- Location
- Washington, United States
- Type
- Buyout
Machinists Inc. acquired all assets of The Gear Works, a Seattle-based precision gear manufacturer and gearbox repair specialist. The acquisition expands Machinists Inc.'s capabilities in major gearbox repair and precision gear machining and doubles its manufacturing space to support larger and more diverse projects.
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February 13, 2018
- Buyer
- Zwift, LLC
- Target
- Milestone Sports, LTD.
- Industry
- Manufacturing
- Location
- Israel
- Type
- Buyout
Zwift, LLC has purchased Milestone Sports, LTD. and assumed the Milestone development team to integrate MilestonePod technology into Zwift’s running platform. 3-21 Capital acted as Milestone’s exclusive financial advisor; the deal brings foot‑pod and treadmill connectivity and advanced running metrics into Zwift’s indoor fitness ecosystem.
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February 4, 2018
- Buyer
- Midwest Timer Service, Inc.
- Target
- Core Components, Inc.
- Industry
- Manufacturing
- Location
- Illinois, United States
- Type
- Buyout
Benton Harbor, Michigan–based Midwest Timer Service, Inc. has acquired Carol Stream, Illinois–based Core Components, Inc. The acquisition expands Midwest Timer's product offering into HVAC, controls and electromechanical components and is intended to diversify its end markets and capabilities.
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January 31, 2018
- Buyer
- BITZER US, Inc.
- Target
- VaCom Technologies, Inc.
- Industry
- Manufacturing
- Location
- California, United States
- Type
- Buyout
BITZER US, Inc., the Flowery Branch, Georgia subsidiary of the BITZER Group, has acquired VaCom Technologies, Inc., a La Verne, California provider of refrigeration controls, custom control panels, and energy-efficiency consulting. Bravaldo Capital Advisors sourced and advised the transaction. The acquisition expands BITZER’s capabilities by integrating equipment and controls, creates a new West Coast sales channel, and enables replication of these capabilities across North America.
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January 26, 2018
- Buyer
- Mill City Capital, L.P.
- Target
- HN Precision Company
- Seller
- Cerberus Business Finance, LLC
- Industry
- Manufacturing
- Location
- Illinois, United States
- Type
- Buyout
Mill City Capital has acquired HN Precision Company, a precision machining manufacturer headquartered in Lake Bluff, Illinois, from Cerberus Business Finance. HN Precision operates over 175 CNC machines and employs approximately 240 people serving end markets including heavy truck, off-highway vehicles, recreational firearms and rail; Mill City plans to grow the business as a platform and expand its manufacturing capabilities.
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January 11, 2018
- Buyer
- Pfingsten, Ironwood Manufacturing Fund, Nautic Partners
- Target
- Burton Saw and Supply, Simonds International
- Industry
- Manufacturing
- Location
- United States
- Type
- Buyout
Pfingsten announced the merger of its portfolio company Burton Saw and Supply with Simonds International (a portfolio company of Ironwood Manufacturing Fund and Nautic Partners) to create a combined leading producer and marketer of cutting tools, equipment and consumables for the wood processing industry. The combined business will operate under the legacy brands across the United States and Canada with 12 facilities; Pfingsten will retain a significant ownership interest.
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January 10, 2018
- Buyer
- Emerson
- Target
- Cooper-Atkins
- Industry
- Manufacturing
- Location
- Connecticut, United States
- Type
- Buyout
Emerson has completed the acquisition of Cooper-Atkins, a manufacturer of temperature management and environmental measurement devices and wireless monitoring solutions. The deal expands Emerson's cold chain technology portfolio and complements its ProAct Services and Cargo Solutions offerings; Cooper-Atkins is headquartered in Middlefield, Connecticut and has approximately 150 employees.
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January 3, 2018
- Buyer
- Northlane Capital Partners
- Target
- SmartWave Technologies
- Industry
- Manufacturing
- Location
- Ontario, Canada
- Type
- Buyout
Northlane Capital Partners has made a control investment in SmartWave Technologies, a Toronto-based designer and manufacturer of electronic and electromechanical systems. The founder, Peter Zosimadis, remains with the company as CTO and industry executive Jack Vresics joined as CEO; the capital will support product innovation, serve existing customers, and expand SmartWave into new end markets.
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