Manufacturing Acquisitions in Rhode Island
Rhode Island Manufacturing M&A Themes
Dealmaking in Rhode Island’s manufacturing sector spans growth investments, acquisitions of specialized capabilities, and management-led buyouts—often framed around scaling regional platforms or moving production and know-how to support end-market demand.
Across the transactions, several buyers show up repeatedly, including Altamont Capital Partners, Main Street Capital Corporation, Industrial Growth Partners (via portfolio companies), and public/strategic manufacturers such as Lutron Electronics and Michelin. Targets include custom industrial products, advanced manufacturing systems, metal finishing, coated fabrics, and specialty electronic components.
Common threads include bringing critical production capabilities in-house (for example, plating/coating) and integrating acquired businesses into a broader technology or product roadmap. Many deals also preserve continuity in the acquired company’s Rhode Island footprint, while expanding investment into adjacent markets.
What Stands Out
- Altamont Capital Partners backed growth in specialty corrugated packaging through its investment in Key Container Corporation (Rhode Island).
- Lutron Electronics acquired Tanury Industries to bring metal finishing and plating capabilities in-house, while keeping Tanury operating in Lincoln, Rhode Island.
- Michelin completed its acquisition of Cooley Group, expanding capabilities in industrial coated fabrics.
- Deal activity includes both strategic acquisitions (technology/materials and production capability) and private equity-backed platforms, including a management-led buyout backed by Main Street Capital Corporation.
- Multiple transactions highlight geographic continuity in Rhode Island (e.g., acquired companies maintaining Rhode Island operations post-close).
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- Buyer
- Altamont Capital Partners
- Target
- Key Container Corporation
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Growth capital
Altamont Capital Partners announced an investment in Key Container Corporation, a New England manufacturer of specialty and custom corrugated packaging products. The investment is intended to support Key Container’s continued growth and expansion across the Northeast and build a scaled regional platform in corrugated packaging.
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February 7, 2026
- Buyer
- Lutron Electronics
- Target
- Tanury Industries
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
Lutron Electronics has acquired Tanury Industries, a Rhode Island-based metal finishing and plating company that has supplied Lutron with metal faceplates for more than 25 years. The acquisition brings plating and coating capabilities in-house to support Lutron’s premium metal finishes and will keep Tanury operating in Lincoln, Rhode Island while expanding investment in its capabilities across end markets including automotive, aviation, marine, and luxury products.
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January 22, 2026
- Buyer
- Michelin
- Target
- Cooley Group
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
Michelin has completed the acquisition of Cooley Group, a Rhode Island–headquartered designer and manufacturer of high-performance polymer coated fabrics, for an undisclosed sum financed from available cash. Cooley, which has about 300 employees, four North American factories and reported $168 million in 2025 revenue, will expand Michelin's capabilities in industrial coated fabrics and complementary geographies.
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April 28, 2025
- Buyer
- Wenger Corporation
- Target
- Creative Conners, Inc.
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
Wenger Corporation has acquired Creative Conners, Inc., a Cranston, Rhode Island-based maker of advanced stage automation systems. The deal expands Wenger's performing-arts product portfolio and technical capabilities in motion-control and theatrical automation; Creative Conners will continue operations in Rhode Island and integrate with Wenger's existing staging and rigging brands.
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December 18, 2023
- Buyer
- Rudolph Capital
- Target
- Chemart Company
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
Rudolph Capital has acquired Chemart Company, a Lincoln, Rhode Island-based custom manufacturer of premium brass Christmas ornaments. Chemart, known as the exclusive maker of the White House Christmas ornament and with over 150 employees, will be supported by Rudolph Capital to pursue its next stage of growth.
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- Buyer
- Main Street Capital Corporation, Unnamed co-investor
- Target
- Ira Green, Inc.
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
Main Street Capital Corporation provided $52.8 million of financing (first‑lien senior secured term debt and a direct equity investment) to back a management‑led buyout of Ira Green, Inc., an industry‑leading manufacturer and distributor of insignia and tactical products. Main Street and an unnamed co‑investor also provided a revolving credit facility to support Ira Green's growth initiatives and working capital needs. The Company, founded in 1943, is headquartered in Providence, Rhode Island and sells branded and private‑label insignia and tactical accessories globally through retailers and eCommerce channels.
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January 3, 2023
- Target
- Ocean State Innovations
- Seller
- Praesidian Capital
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Divestiture
Praesidian Capital announced it has fully realized its equity investment in Ocean State Innovations, a Portsmouth, Rhode Island-based textile converter and fabric finishing business. The release did not disclose a buyer; Praesidian highlighted the company's management team and multi-year growth through organic initiatives and acquisitions.
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October 29, 2021
- Buyer
- inTEST Corporation
- Target
- Videology Imaging Solutions (Inc. and Europe B.V.)
- Seller
- Videology Imaging Solutions Inc., Videology Imaging Solutions Europe B.V.
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
inTEST Corporation acquired substantially all assets of Videology Imaging Solutions Inc. and Videology Imaging Solutions Europe B.V. for $12.0 million in cash. The acquisition expands inTEST's process technology and automation capabilities—broadening its presence in life sciences, industrial and international markets—and is expected to be approximately $0.05 accretive to diluted EPS in the first year.
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January 5, 2021
- Buyer
- J.H. Whitney Capital Partners, Cooley Group
- Target
- Cooley Group, Vintex Inc.
- Seller
- Siener family
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
J.H. Whitney Capital Partners acquired Cooley Group from the Siener family in a take-private buyout; Alantra acted as advisor. Following the transaction, Cooley — now PE-backed — completed an add-on acquisition of Vintex Inc., expanding its coated-textiles and medical/industrial solutions footprint.
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December 9, 2020
- Buyer
- Royal Power Solutions, Industrial Growth Partners
- Target
- Wieland Rolled Products North America, LLC
- Seller
- Wieland Rolled Products North America, LLC
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Addon
Royal Power Solutions, an Industrial Growth Partners (IGP) portfolio company, acquired certain business assets and product lines from Wieland Rolled Products North America in two transactions (October 8 and December 9, 2020). The assets—including busbars, terminals, eyelets and shields—bolster Royal's capabilities in electrical connectivity for automotive, EV and power electronics platforms and add new manufacturing technologies and customers in mobility markets.
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November 19, 2020
- Buyer
- Arcline Investment Management
- Target
- Evans Capacitor Company
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
Arcline Investment Management, a growth-oriented private equity firm, has acquired Evans Capacitor Company, a designer and manufacturer of high-reliability, power-dense capacitors based in East Providence, Rhode Island. Arcline said Evans will be the first of several acquisitions as it builds a specialty electronic components platform and has named Kevin Perhamus as CEO of the platform; Houlihan Lokey served as financial advisor to Arcline.
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April 23, 2020
- Buyer
- Century Boats
- Target
- Vanquish Boats
- Seller
- Vanquish Boats, Morgan Huntley
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
Century Boats has acquired luxury boatmaker Vanquish Boats and will reintroduce the line under the Century Coronado name. Production will be moved to Century’s main facility in Zephyrhills, Florida; Vanquish owner Morgan Huntley will remain on staff as Chief Operating Officer to lead production and product development. The deal expands Century’s model portfolio, dealer distribution and service network.
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March 9, 2020
- Buyer
- Bessemer Investors LLC
- Target
- Leonard Valve Company
- Seller
- Selling shareholders
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
Bessemer Investors LLC completed a majority acquisition of Leonard Valve Company, partnering with Leonard's management team who retain a minority stake. The investment provides liquidity to selling shareholders and capital to support Leonard's future growth initiatives; financial terms were not disclosed.
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August 23, 2019
- Buyer
- Meridian Adhesives Group, Arsenal Capital Partners
- Target
- Epoxies, Etc.
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Addon
Meridian Adhesives Group, the adhesives platform backed by Arsenal Capital Partners, acquired Epoxies, Etc., a Cranston, Rhode Island-based formulator of specialty epoxies, urethanes and silicones. The add-on expands Meridian’s product portfolio and extends its presence into high-growth end markets including electronics, infrastructure/aerospace and medical applications.
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- Buyer
- Kohlberg & Company
- Target
- Nelipak Healthcare Packaging
- Seller
- Mason Wells
- Industry
- Manufacturing
- Location
- Rhode Island, United States
- Type
- Buyout
Kohlberg & Company, a Mount Kisco, New York-based private equity firm, has acquired Nelipak Healthcare Packaging, a Cranston, Rhode Island-based manufacturer of custom rigid packaging for medical devices and pharmaceutical drug delivery products, from Mason Wells. Kohlberg plans to invest in Nelipak to expand capabilities and pursue organic and M&A-driven growth, using Nelipak as a platform for further industry consolidation.
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Frequently Asked Questions
Which private equity and investment firms appear in Rhode Island manufacturing acquisitions?
Recurring names include Altamont Capital Partners, Main Street Capital Corporation, Industrial Growth Partners (via a portfolio company), Rudolph Capital, Arcline Investment Management, and Praesidian Capital (with an exit from Ocean State Innovations).
Are the Rhode Island deals mostly strategic acquisitions or private equity deals?
Both appear. Strategic manufacturers include Lutron Electronics and Michelin, while private equity activity includes platform building and management-led buyouts such as Main Street Capital Corporation’s financing for Ira Green, Inc.
What types of manufacturing capabilities are being added through these acquisitions?
The page shows acquisitions aimed at capability expansion such as metal finishing/plating (Lutron and Tanury), industrial coated fabrics (Michelin and Cooley Group), and advanced automation/motion-control for staging and rigging (Wenger and Creative Conners).
Do acquired companies typically remain in Rhode Island after the transaction?
Several deal summaries indicate continuity. For example, Tanury Industries continues operating in Lincoln, Rhode Island after Lutron Electronics’ acquisition.