Manufacturing Buyout Acquisitions in 2016
Acquisition Volume in Manufacturing Buyout in 2016 by Year
Last 5 years
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December 21, 2016
- Buyer
- Westward Partners LLC
- Target
- OSW Equipment & Repair, LLC
- Industry
- Manufacturing
- Location
- Washington, United States
- Type
- Buyout
Seattle-based private equity firm Westward Partners LLC has acquired OSW Equipment & Repair, a Snohomish, Washington manufacturer and repairer of Class 8 dump truck bodies and truck body assemblies. The investment will provide OSW with capital and operating expertise to expand manufacturing capacity and pursue growth into new markets across the West Coast.
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November 30, 2016
- Buyer
- Patterson Pump Company, The Gorman-Rupp Company
- Target
- Morrison Pump Company
- Seller
- Morrison Pump Company
- Industry
- Manufacturing
- Location
- Florida, United States
- Type
- Buyout
The Gorman-Rupp Company announced that its wholly-owned subsidiary, Patterson Pump Company, completed an asset purchase of the business of Morrison Pump Company of Hollywood, Florida. Terms were undisclosed; the acquisition is expected to integrate Morrison's product designs and staff into Patterson's manufacturing and international distribution network to accelerate growth in complementary niche markets.
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November 7, 2016
- Buyer
- Bourns, Inc.
- Target
- Transtek Magnetics, Inc.
- Seller
- Transtek Magnetics, Inc. and its shareholders
- Industry
- Manufacturing
- Location
- Arizona, United States
- Type
- Buyout
Bourns, Inc. has acquired certain assets and the ongoing operations of Transtek Magnetics, Inc., a Tucson-headquartered maker of custom transformers, inductors and coils with manufacturing in Dongguan, China. The acquisition expands Bourns' product offering into high-frequency and high-power magnetic components for end markets including automotive, solar power and consumer electronics.
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November 1, 2016
- Buyer
- Ferro Corporation
- Target
- Electro-Science Laboratories, Inc.
- Seller
- Founding family / private owners of ESL
- Industry
- Manufacturing
- Location
- Pennsylvania, United States
- Type
- Buyout
Ferro Corporation acquired Electro-Science Laboratories, Inc. (ESL) for $75 million, expanding Ferro's electronic packaging materials capabilities and strengthening its Performance Colors and Glass platform. ESL, a privately held maker of thick-film pastes and ceramic tape systems headquartered in King of Prussia, Pennsylvania, has about 86 employees and generated an expected full-year 2016 adjusted EBITDA of $9.2 million.
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October 18, 2016
- Buyer
- Akoya Capital Partners, LLC, Marquette Capital Partners, Merion Investment Partners, Indigo Signworks management
- Target
- Indigo Signworks
- Industry
- Manufacturing
- Location
- North Dakota, United States
- Type
- Buyout
Akoya Capital Partners, in partnership with Marquette Capital Partners, Merion Investment Partners and Indigo's management, has acquired Indigo Signworks, a Fargo, North Dakota-based manufacturer of exterior and interior signage. The investor group plans to work with existing management to expand product lines, customer relationships and the company’s geographic footprint.
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October 13, 2016
- Buyer
- Argand Partners
- Target
- Sigma Electric Manufacturing
- Seller
- Goldman Sachs, Other selling shareholders
- Industry
- Manufacturing
- Location
- North Carolina, United States
- Type
- Buyout
Argand Partners, a New York-based private equity firm, has acquired Sigma Electric Manufacturing, a Garner, North Carolina-headquartered maker of precision die-cast and sand-cast metal components with multiple manufacturing plants in India. Terms were not disclosed; the transaction is supported by a loan facility from Brightwood Capital Advisors and Argand intends to work with Sigma's management to expand the company’s market presence and geographic footprint.
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August 22, 2016
- Buyer
- Weller Equity Partners
- Target
- KFI Seating
- Seller
- KFI Seating co-owners (including a retiring co-owner)
- Industry
- Manufacturing
- Location
- Kentucky, United States
- Type
- Buyout
Weller Equity Partners, a Louisville-based private equity firm, acquired KFI Seating, a Louisville manufacturer and distributor of institutional seating and table products, in a transaction that closed July 29, 2016. The deal provides liquidity to retiring and existing co-owners while partnering with management to support growth and organizational development.
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August 5, 2016
- Buyer
- Union Partners I LLC (Union Partners)
- Target
- Berg Steel Corporation
- Industry
- Manufacturing
- Location
- Michigan, United States
- Type
- Buyout
Union Partners I LLC has acquired Berg Steel Corporation, a Royal Oak, Michigan-based processor and distributor of carbon steel coil products. Angle Advisors served as the exclusive investment banking advisor to Berg Steel; the company operates state-of-the-art slitting capabilities and employs approximately 40 people.
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July 7, 2016
- Buyer
- Elm Creek Partners, Henrikson & Graul Capital Partners (HGCP)
- Target
- Liberty Paper Products
- Seller
- Liberty Paper Products selling shareholders (including founder Mike Rapier), Mike Rapier (founder & CEO; partial rollover)
- Industry
- Manufacturing
- Location
- Arizona, United States
- Type
- Buyout
Dallas-based private equity firm Elm Creek Partners, with majority equity provided by Henrikson & Graul Capital Partners (HGCP), has acquired Liberty Paper Products, a Phoenix-based specialty converter and distributor of thermal paper. Founder and CEO Mike Rapier remains in his role and rolled a portion of his proceeds into the new ownership; lenders on the transaction included Marquette Business Credit and subordinated debt from Medallion Capital.
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July 5, 2016
- Buyer
- MTS Systems Corporation
- Target
- PCB Group, Inc.
- Industry
- Manufacturing
- Location
- New York, United States
- Type
- Buyout
MTS Systems Corporation has completed the acquisition of 100% of PCB Group, Inc. for $580 million. PCB, a Depew, New York–based manufacturer of piezoelectric sensors and transducers with ~1,168 employees, expands MTS's sensors portfolio and creates cross-selling and margin-improvement opportunities across MTS's Test and Sensors segments.
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- Buyer
- Valero Capital Partners
- Target
- Vacuum Instruments Corporation
- Industry
- Manufacturing
- Location
- New York, United States
- Type
- Buyout
Valero Capital Partners has acquired Vacuum Instruments Corporation (VIC), a Ronkonkoma, New York–based manufacturer of tracer-gas and air leak detection products, systems and services. The deal coincides with the announced retirements of long-time leaders Fritz Ewing and John Schreiner; Valero-appointed management (including CEO Jeff Plante) will lead the company as Vacuum Instruments Corporation, LLC to continue manufacturing and expand offerings.
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June 1, 2016
- Buyer
- Sage Capital, Bulk Tank management (nine members including founder Dave Sisk)
- Target
- Bulk Tank Inc
- Industry
- Manufacturing
- Location
- Missouri, United States
- Type
- Buyout
Sage Capital led an investor group alongside nine members of Bulk Tank's management team (including founder Dave Sisk) to acquire Bulk Tank Inc, a Park Hills, Missouri-based manufacturer of valves and flow-control components for pneumatic dry-bulk trailers and railcars. Operations will remain in Park Hills with all employees retained; founder Dave Sisk will stay on in a senior executive role and serve as a director while Andy Boyer will lead the company and Pneumatic Tank Services LLC will be managed separately by Brent Kemp.
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April 28, 2016
- Buyer
- Kawakin Holdings Company
- Target
- Dynamic Isolation Systems
- Seller
- Tom Foley (majority shareholder)
- Industry
- Manufacturing
- Location
- Nevada, United States
- Type
- Buyout
Kawakin Holdings Company (TSE: 5614), a Japanese manufacturer of materials and construction products, has acquired 100% of Dynamic Isolation Systems (DIS), a US-based maker of engineered seismic isolation components. Cascadia Capital served as exclusive financial advisor to DIS; the majority shareholder Tom Foley sold the business in the transaction.
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- Buyer
- The Riverside Company
- Target
- Momentum Group
- Seller
- Norwest Equity Partners (NEP)
- Industry
- Manufacturing
- Location
- California, United States
- Type
- Buyout
The Riverside Company has acquired Momentum Group, a distributor of commercial textiles headquartered in Irvine, California, from Norwest Equity Partners. Momentum Group (~150 employees) supplies fabrics to commercial furniture manufacturers and design firms across office, hospitality, education and healthcare markets; Maranon Capital provided mezzanine financing and co-invested in the transaction.
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March 15, 2016
- Buyer
- Leggett & Platt Incorporated
- Target
- Pegasus Manufacturing, Inc.
- Industry
- Manufacturing
- Location
- Connecticut, United States
- Type
- Buyout
Leggett & Platt Incorporated has acquired Pegasus Manufacturing, Inc., a Middletown, Connecticut-based aerospace manufacturer that produces fabricated tubes, pipe assemblies, precision-machined parts and gears for commercial and military aircraft engines and land-based turbines. Terms were not disclosed; Carter Morse & Mathias served as financial advisor to Leggett & Platt. The acquisition expands Leggett & Platt's Aerospace Products Group capabilities and strengthens its product and market presence in aerospace components.
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January 19, 2016
- Buyer
- II‑VI Incorporated
- Target
- EpiWorks, Inc., ANADIGICS, Inc.
- Industry
- Manufacturing
- Location
- United States
- Type
- Buyout
II‑VI Incorporated agreed to acquire EpiWorks, Inc. (approximately $43.0M, including a $6.0M earn‑out) and ANADIGICS, Inc. (approximately $61.0M) for a combined cash consideration of $110M to expand its epitaxial growth and 6‑inch GaAs wafer fabrication capacity. The deals are intended to accelerate II‑VI's VCSEL and semiconductor laser platform scale and will be financed with cash and borrowings; both transactions were expected to close within about 60 days.
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- Buyer
- Capital For Business, Sage Capital
- Target
- DIT-MCO International Corporation
- Seller
- F. L. Thompson family, Richard Thompson
- Industry
- Manufacturing
- Location
- Missouri, United States
- Type
- Buyout
Capital For Business and Sage Capital completed an asset purchase of DIT‑MCO International Corporation, creating a newly formed DIT‑MCO International LLC and retaining existing management and staff. The acquisition, driven in part by family succession goals following long-time owner F. L. Thompson's passing and the retirement of Richard Thompson, will keep operations in Kansas City under new private equity ownership.
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