Divestitures in 2016

Torque Capital's investor group has completed the purchase of the North American and European light vehicle aftermarket business of Remy, Inc. from BorgWarner Inc., acquiring Remy's North American rotating electrical remanufacturing business, the Maval power steering business, and Remy Europe rotator remanufacturing operations. The deal creates a standalone Remy aftermarket business with David Nichols named president of the North American company.

Precise Mold & Plate has acquired the ErgoStation line of height-adjustable workstations and machine bases from Extol, Inc. The divestiture, which closed on October 27, 2016, allows Extol to focus on its core plastics-joining equipment business while continuing to purchase ErgoStation products from Precise; financial terms were not disclosed.

Consolidated Lumber Company, doing business as Arrow Building Center, acquired Fullerton Lumber Company from Plymouth, Minnesota-based Fullerton Companies. The Fullerton family engaged Cherry Tree & Associates to run the sale process so Fullerton could exit the lumber and building materials business and focus on its factory-fabricated building systems and finishes operations.

INOF Asset Acquisition, LLC—a company formed by Inno-Flex management and Oxbow Industries, LLC—acquired the assets of Inno-Flex Corporation from Beryl Corporation in an asset sale. Inno-Flex, based in New Hope, Minnesota, manufactures decorative and functional interface products (including membrane switches and in-mold labeling) and has 97 employees; senior debt was provided by MidCountry Bank and the purchase price was not disclosed.

Abrado Wellbore Services has acquired the specialty downhole tool product lines (including Medusa section milling, Rattler magnets, Mud Viper surface magnets and fishing tool services) from Deltide Energy Services, LLC. The purchase expands Abrado's existing downhole video, cleanout tools and chemical displacement capabilities and enables the company to offer a comprehensive solution for wellbore debris management and P&A work.

WatchGuard Technologies has acquired the HawkEye G threat detection and response technology from Hexis Cyber Solutions, a division of The KEYW Holding Corporation. The technology will be integrated into WatchGuard's network security and MSSP enablement platform to extend visibility and automated response from the network perimeter to endpoints for small and midsize organizations and distributed enterprises.

TouchPoint has acquired the Health Care Technology business of InterMetro Industries and formed a new platform, TouchPoint Medical, that combines the acquired product lines with TouchPoint's existing medical technology businesses. The acquisition expands TouchPoint Medical's offerings to include mobile computing workstations, automated medication dispensing equipment and mounting systems for hospitals, long-term care and other healthcare facilities.

Wincove Private Holdings, together with Bluff Manufacturing management, acquired Bluff Manufacturing, a Fort Worth-based maker of yard ramps, dock boards and warehouse safety equipment, from Hadley Capital. Cleary Gull acted as exclusive financial advisor to Bluff Manufacturing on the transaction; Wincove said it plans to support Bluff’s growth both organically and through acquisitions.

Dalton Corporation, a Warsaw, Indiana foundry specializing in complex gray iron castings, was sold by Neenah Enterprises to private equity firms Beckner Clevy Partners and Speyside Equity. Cleary Gull acted as Neenah Enterprises' exclusive financial advisor; the buyers intend to leverage their industrial expertise to support Dalton's operational growth.

USI Insurance Services has acquired Forrest Sherer Insurance, Inc., a Terre Haute, Indiana-based insurance agency, from First Financial Corporation. Forrest Sherer — which provides property-casualty, employee benefits and personal risk services and will keep staff in its Terre Haute and Evansville offices — becomes part of USI as the buyer expands its presence in Indiana; terms were not disclosed.