Manufacturing Divestitures in 2021
Acquisition Volume in Manufacturing Divestitures in 2021 by Year
Last 5 years
-
- Buyer
- ISCO Industries, Inc.
- Target
- Industrial Pipe Fittings LLC d/b/a Plasson USA
- Seller
- Plasson Ltd
- Industry
- Manufacturing
- Location
- Texas, United States
- Type
- Divestiture
ISCO Industries, a Louisville-based total piping solutions provider, acquired the majority of the U.S. manufacturing operations of Industrial Pipe Fittings LLC d/b/a Plasson USA from parent company Plasson Ltd. The transaction, a divestiture led by GulfStar Group as advisor to Plasson, closed on December 31, 2021 and expands ISCO's HDPE fittings and fabrication capabilities across North America.
-
December 23, 2021
- Buyer
- PHI Industrial
- Target
- PPC Insulators
- Seller
- Seves Group, Triton
- Industry
- Manufacturing
- Location
- Vienna, Austria
- Type
- Divestiture
PHI Industrial, a specialist industrial investment fund, has acquired PPC Insulators from Seves Group (a Triton portfolio company). The divestiture transfers PPC — a global manufacturer of porcelain high-voltage insulators serving transmission and distribution customers — to PHI, which said it will pursue expansion in existing and new markets to capitalise on long-term infrastructure and renewable energy trends. Terms were not disclosed.
-
December 13, 2021
- Buyer
- Polyventive LLC, Meridian Adhesives Group
- Target
- Tri-TexCo Inc, Trichromatic-West, Inc
- Seller
- SK Capital Partners, Tri-TexCo Inc
- Industry
- Manufacturing
- Location
- Quebec, Canada
- Type
- Divestiture
Polyventive LLC acquired the Surfactants and Dyes & Pigments businesses of Tri‑TexCo Inc and Trichromatic‑West, Inc from funds advised by SK Capital Partners. Concurrently, Tri‑Tex's adhesives business was sold to Meridian Adhesives Group. The transaction expands Polyventive's specialty chemicals portfolio and adds manufacturing capabilities in Canada and the United States.
-
December 8, 2021
- Buyer
- North American Chassis Pool Cooperative (NACPC)
- Target
- Pratt Intermodal Chassis, LLC
- Seller
- LFM Capital, Pratt Industries, LLC
- Industry
- Manufacturing
- Location
- Michigan, United States
- Type
- Divestiture
The North American Chassis Pool Cooperative (NACPC) has acquired Pratt Intermodal Chassis, LLC — the intermodal chassis business formerly held within Pratt Industries and owned by LFM Capital. Pratt Intermodal Chassis will operate as a subsidiary of NACPC, while LFM Capital retains Pratt Industries' remaining custom and utility trailer businesses.
-
- Buyer
- Stryten Energy
- Target
- Tulip Richardson Manufacturing
- Seller
- Saugatuck Capital Company, Management team
- Industry
- Manufacturing
- Location
- Wisconsin, United States
- Type
- Divestiture
Stryten Energy acquired Tulip Richardson Manufacturing (TRM) from Saugatuck Capital Company in a strategic purchase announced in December 2021. The acquisition adds TRM’s vertically integrated injection-molding and battery-component manufacturing capabilities — including facilities in Milwaukee, Columbus (IN) and Niagara Falls (NY) — to Stryten’s energy storage and battery component platform to expand production capacity and capabilities.
-
December 2, 2021
- Buyer
- Techniplas, LLC
- Target
- Molded Products Division of Lyle Industries, Inc.
- Seller
- Lyle Industries, Inc.
- Industry
- Manufacturing
- Location
- Georgia, United States
- Type
- Divestiture
Techniplas, LLC has acquired the Molded Products Division of Lyle Industries, Inc., a Tier 1 supplier of cargo systems, carpeted trim and molded floors for luxury SUVs and electric passenger cars. The divestiture gives Techniplas new strategic manufacturing locations in the U.S. Southeast and complementary molding process capabilities while Lyle Industries will continue to supply premium carpet to the business.
-
December 1, 2021
- Buyer
- Draslovka a.s.
- Target
- Mining Solutions business of The Chemours Company
- Seller
- The Chemours Company
- Industry
- Manufacturing
- Location
- Delaware, United States
- Type
- Divestiture
Draslovka a.s. completed the acquisition of The Chemours Company’s Mining Solutions business for $521 million, making Draslovka the world’s largest producer of solid sodium cyanide and expanding its global operations across Europe, the Americas and Australasia. The transaction was funded with a $348 million Term Loan B arranged by J.P. Morgan and equity from Draslovka’s existing family owners, and is intended to support further international expansion and capability growth in CN-based specialty chemicals.
-
- Buyer
- Charter Manufacturing Company, Inc.
- Target
- Aarrowcast, Inc.
- Seller
- Industrial Opportunity Partners
- Industry
- Manufacturing
- Location
- Wisconsin, United States
- Type
- Divestiture
Charter Manufacturing Company, a family-owned metals manufacturer, has acquired Aarrowcast, Inc., a Shawano, Wisconsin-based foundry, from Industrial Opportunity Partners. Terms were not disclosed; Aarrowcast casts ductile, gray and austempered ductile iron components for agriculture, off-highway heavy truck, military and construction markets.
-
November 24, 2021
- Buyer
- Fenzi Holdings SPV S.p.A (Fenzi Group)
- Target
- Advanced Glass Technologies (AGT)
- Seller
- Johnson Matthey
- Industry
- Manufacturing
- Location
- Limburg, Netherlands
- Type
- Divestiture
Fenzi Group completed the acquisition of Johnson Matthey’s Advanced Glass Technologies (AGT) business, a global provider of specialist glass enamels and precious metal pastes serving automotive, architectural, home appliance and hollow glass markets. The deal (announced November 24, 2021 and completed January 31, 2022) expands Fenzi’s product capabilities and strengthens its position as a leading, full-service chemicals partner to the glass processing industry.
-
November 5, 2021
- Buyer
- EnPro Industries, Inc.
- Target
- NxEdge
- Seller
- Trive Capital
- Industry
- Manufacturing
- Location
- Idaho, United States
- Type
- Divestiture
EnPro Industries agreed to acquire NxEdge, an advanced manufacturing, cleaning, coating, and refurbishment business serving the semiconductor value chain, from private equity owner Trive Capital. NxEdge — based in Boise, Idaho with six facilities in Idaho and California and a strong aftermarket/recurring-revenue business — will join EnPro's Advanced Surface Technologies segment to expand capabilities and customer reach in semiconductors and related end markets.
-
November 3, 2021
- Buyer
- Vertellus, Pritzker Private Capital
- Target
- Chemtrade Logistics Income Fund
- Seller
- Chemtrade Logistics Income Fund
- Industry
- Manufacturing
- Location
- Ontario, Canada
- Type
- Divestiture
Vertellus, a Pritzker Private Capital–backed specialty chemicals manufacturer, completed the acquisition of certain Chemtrade businesses that produce potassium chloride, caustic pellets and vaccine adjuvants. The deal expands Vertellus’ capabilities and product portfolio in the healthcare and pharmaceutical sectors and strengthens its manufacturing footprint for specialty ingredients.
-
November 1, 2021
- Buyer
- Materion Corporation
- Target
- HCS-Electronic Materials (H.C. Starck Solutions' Electronic Materials business)
- Seller
- H.C. Starck Solutions
- Industry
- Manufacturing
- Location
- Massachusetts, United States
- Type
- Divestiture
Materion Corporation completed the acquisition of H.C. Starck Solutions’ electronic materials business (HCS-Electronic Materials) in Newton, Massachusetts for an aggregate purchase price of $380 million in cash on a cash-free, debt-free basis. The deal adds approximately $145 million of revenue and expands Materion’s capabilities and market position in premium thin film materials for the semiconductor, industrial, and aerospace & defense markets.
-
November 1, 2021
- Buyer
- Bunzl plc (via U.S. subsidiary)
- Target
- McCue Corporation
- Seller
- Eureka Equity Partners
- Industry
- Manufacturing
- Location
- Massachusetts, United States
- Type
- Divestiture
Bunzl plc, through a U.S. subsidiary, has acquired McCue Corporation, a Danvers, Massachusetts-based designer and manufacturer of engineered safety and asset-protection solutions. The sale represents an exit for Eureka Equity Partners, which had partnered with McCue since 2017 and helped drive significant product and EBITDA growth prior to the transaction.
-
October 28, 2021
- Buyer
- Synthomer plc
- Target
- Eastman adhesives resins assets and business (Hydrocarbon resins, pure monomer resins, polyolefin polymers, rosins and dispersions, oleochemical and fatty-acid based resins product lines)
- Seller
- Eastman Chemical Company (and certain of its subsidiaries)
- Industry
- Manufacturing
- Location
- Tennessee, United States
- Type
- Divestiture
Eastman Chemical Company (NYSE: EMN) entered into a definitive agreement to sell its adhesives resins assets and business to Synthomer plc for $1.0 billion in cash. The transaction is expected to close in the first quarter of 2022, subject to regulatory approvals and customary closing conditions.
-
October 25, 2021
- Buyer
- Right Lane Industries
- Target
- TerraSource Global
- Seller
- Hillenbrand, Inc.
- Industry
- Manufacturing
- Location
- Missouri, United States
- Type
- Divestiture
Hillenbrand completed the divestiture of its TerraSource Global business, contributing the business to newly formed TerraSource Holdings, LLC. Affiliated companies of Right Lane Industries (RLI) obtained majority ownership and operational control while Hillenbrand received a five‑year note with initial principal of $25.6 million and retained an indirect 49% ownership interest in the new Holdings entity.
-
October 19, 2021
- Buyer
- NI (National Instruments)
- Target
- Heinzinger Automotive GmbH (EV Systems business of Heinzinger electronic GmbH)
- Seller
- Heinzinger electronic GmbH
- Industry
- Manufacturing
- Location
- Bavaria, Germany
- Type
- Divestiture
NI (National Instruments) has completed the purchase of Heinzinger Automotive GmbH, the EV Systems business of Rosenheim-based Heinzinger electronic GmbH. The acquisition expands NI's electrification, battery test and sustainable energy capabilities, combining NI's EV test platform with Heinzinger's high-voltage/high-current power systems to better serve automotive and EV customers.
-
- Buyer
- An affiliate of JLL Partners
- Target
- Emcor Enclosures
- Seller
- Crenlo Engineered Cabs, Angeles Equity Partners, LLC
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Divestiture
Crenlo Engineered Cabs, a portfolio company of Angeles Equity Partners, sold its Emcor Enclosures division to an affiliate of JLL Partners. Financial terms were not disclosed; the divestiture enables Crenlo to focus exclusively on manufacturing engineered cabs for off-highway vehicle OEMs while Emcor continues supplying enclosures and consoles to aerospace, defense, data center, and healthcare markets.
-
October 12, 2021
- Buyer
- Armstrong International
- Target
- Leslie Controls
- Seller
- Leslie Controls
- Industry
- Manufacturing
- Location
- United States
- Type
- Divestiture
Armstrong International purchased Leslie Controls' industrial control valve and steam water heater product lines (excluding the U.S. Military Marine market) in Q3 2021. The acquisition expands Armstrong's thermal product offering and customer base in power and process markets while retaining Leslie sales leadership and engineering support.
-
September 21, 2021
- Buyer
- Trilantic North America, Ziad Abou, Other industry executives (co-investors/partners)
- Target
- On Demand Manufacturing business (rebranded as Quickparts)
- Seller
- 3D Systems
- Industry
- Manufacturing
- Location
- Washington, United States
- Type
- Divestiture
Trilantic North America agreed to acquire the On Demand Manufacturing business from 3D Systems and has rebranded the business as Quickparts. The deal, completed in September 2021, includes industry veteran Ziad Abou (former SVP/GM of the unit) as CEO and a team of industry executives partnering with Trilantic to grow the global on‑demand 3D printing and custom manufacturing platform.
-
September 21, 2021
- Buyer
- Celestica Inc.
- Target
- PCI Limited
- Seller
- Platinum Equity
- Industry
- Manufacturing
- Location
- Singapore
- Type
- Divestiture
Celestica Inc. agreed to acquire PCI Limited, a Singapore-based electronics manufacturing services (EMS) provider, from Platinum Equity for $306 million in cash. The deal, announced September 21, 2021, expands Celestica's manufacturing and design capabilities across Asia and is expected to close in mid-Q4 2021 subject to regulatory approvals.
-
September 20, 2021
- Buyer
- Thomas H. Lee Partners
- Target
- Brooks Automation — Semiconductor Solutions Group
- Seller
- Brooks Automation, Inc.
- Industry
- Manufacturing
- Location
- Massachusetts, United States
- Type
- Divestiture
Thomas H. Lee Partners (THL) agreed to acquire Brooks Automation’s Semiconductor Solutions Group (the automation business) for $3.0 billion in cash. The sale is a divestiture that will allow Brooks to focus capital on its life sciences business, while THL plans to invest in and grow the automation platform serving semiconductor and multi-market automation opportunities.
-
September 12, 2021
- Buyer
- Eastman Chemical Company
- Target
- Matrix Films, LLC (PremiumShield business)
- Seller
- Matrix Films, LLC
- Industry
- Manufacturing
- Location
- Massachusetts, United States
- Type
- Divestiture
Eastman Chemical Company agreed to acquire the business and assets of Matrix Films, LLC — the marketer of PremiumShield performance films — to expand its paint protection and window film capabilities. The deal adds PremiumShield's pattern database, installation training expertise and dealer relationships across North America, Europe and the Middle East; terms were not disclosed and the acquisition was expected to close in 2021.
-
September 8, 2021
- Buyer
- Cedar Ridge Holding Company
- Target
- Oneida Molded Plastics, LLC
- Seller
- Argosy Private Equity
- Industry
- Manufacturing
- Location
- New York, United States
- Type
- Divestiture
Cedar Ridge Holding Company, a Minnesota-based family office, acquired Oneida Molded Plastics, LLC from Argosy Private Equity on August 19, 2021, marking Argosy's exit from the investment. Oneida, headquartered in Oneida, New York, is a custom injection-molding manufacturer that serves niche end markets including recreational firearms, specialty automotive and medical equipment.
-
September 8, 2021
- Buyer
- discoverIE Group plc
- Target
- Beacon EmbeddedWorks
- Seller
- Compass Group Equity Partners, Compass Electronics Solutions
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Divestiture
discoverIE Group plc, a FTSE 250 designer and manufacturer of electronic components, has acquired Beacon EmbeddedWorks from Compass Group Equity Partners. Beacon, a Minneapolis-area designer and manufacturer of System-on-Modules used in regulated markets (notably medical), was a Compass Electronics Group add-on and will support discoverIE's international expansion, particularly into Europe.
-
September 7, 2021
- Buyer
- Edgewater Capital Partners
- Target
- Altamira Material Solutions LP (formerly Technetics PTFE & Polymer Solutions)
- Seller
- EnPro Industries, Inc.
- Industry
- Manufacturing
- Location
- Texas, United States
- Type
- Divestiture
Edgewater Capital Partners acquired the polymer components business from EnPro Industries and rebranded the operations as Altamira Material Solutions LP (formerly Technetics PTFE & Polymer Solutions). The deal includes three production sites (two in Houston, Texas and one in Hatfield, Pennsylvania) and positions Edgewater to expand its portfolio in performance/fluoropolymer materials serving semiconductor, aerospace & defense, oil & gas and industrial markets.
-
September 3, 2021
- Buyer
- T-H Marine Supplies, LLC
- Target
- GATOR GUARDS
- Seller
- SS Marine Products, Inc.
- Industry
- Manufacturing
- Location
- Illinois, United States
- Type
- Divestiture
T-H Marine Supplies, LLC acquired the assets of the GATOR GUARDS division of SS Marine Products, Inc. and will operate GATOR GUARDS as a standalone division from its Farmington, Illinois facility. The deal expands T-H Marine's product portfolio in boat protection products and preserves existing management continuity, with founders' family members remaining on the team.
-
- Buyer
- THOR Industries, Inc.
- Target
- Airxcel RV Group
- Seller
- Airxcel, L Catterton
- Industry
- Manufacturing
- Location
- Kansas, United States
- Type
- Divestiture
L Catterton-backed Airxcel sold its RV Group to THOR Industries for an all-cash purchase price of $750 million. The transaction separates Airxcel's RV business (transferred to THOR) from its specialty HVAC business, which will remain supported by L Catterton as AirX Climate Solutions.
-
- Buyer
- DCL Corporation
- Target
- Sun Chemical (Goose Creek manufacturing facility)
- Seller
- Sun Chemical
- Industry
- Manufacturing
- Location
- South Carolina, United States
- Type
- Divestiture
DCL Corporation acquired Sun Chemical's performance pigments manufacturing facility in Goose Creek (Bushy Park), South Carolina, closing on July 31, 2021. The deal transfers production and sales of perylene and quinacridone pigment portfolios (and select specialty products) to DCL, adding high-performance pigments and a U.S. manufacturing base to DCL's global operations.
-
July 20, 2021
- Buyer
- Grede
- Target
- Advanced Cast Products (ACP), Neenah Enterprises Inc. commercial vehicle business
- Seller
- Neenah Enterprises, Inc.
- Industry
- Manufacturing
- Location
- Pennsylvania, United States
- Type
- Divestiture
Grede has signed a definitive agreement to acquire Neenah Enterprises, Inc.'s commercial vehicle business, select industrial book of business and the Advanced Cast Products (ACP) operations in Meadville, Pennsylvania. The acquisition (expected to close in Q3 2021) adds ~220 ACP employees and expands Grede's casting and machining capabilities to better serve commercial vehicle, automotive and industrial OEM customers; terms were not disclosed.
-
July 19, 2021
- Buyer
- A.P. Moller Holding A/S
- Target
- Nissens Cooling Solutions
- Seller
- K. Nissen International A/S, Axcel
- Industry
- Manufacturing
- Location
- Denmark
- Type
- Divestiture
A.P. Moller Holding A/S has signed an agreement to acquire Nissens Cooling Solutions from K. Nissen International A/S (controlled by private equity firm Axcel). Nissens Cooling Solutions — a global manufacturer of customised cooling components, systems and modules for wind turbines and industrial applications with about 1,000 employees across Denmark, China, the Czech Republic and Slovakia — will be carved out as a standalone company and become fully owned by A.P. Moller Holding; the deal is subject to competition clearance and expected to close in H2 2021.
-
- Buyer
- The Böllhoff Group
- Target
- SNEP S.A.
- Seller
- Howmet Aerospace Inc.
- Industry
- Manufacturing
- Location
- Auvergne-Rhône-Alpes, France
- Type
- Divestiture
The Böllhoff Group has acquired SNEP S.A., a Montbrison, France-based manufacturer of specialty fasteners and precision machined components, from Howmet Aerospace. The acquisition expands Böllhoff's turning and machining capabilities for the aerospace sector and brings the company closer to key French aerospace customers.
-
February 24, 2021
- Buyer
- International Paper Company
- Target
- Berkley MF LLC
- Seller
- Berkley International
- Industry
- Manufacturing
- Location
- Nevada, United States
- Type
- Divestiture
The International Paper Company has acquired Berkley International's Molded Fiber manufacturing division, Berkley MF LLC, from Berkley International. The deal transfers an 80,400 sq. ft. molded fiber plant (located outside Reno, Nevada) and capabilities for sustainable molded-pulp packaging to International Paper; the purchase price was not disclosed.
-
February 23, 2021
- Buyer
- Pacific Avenue Capital Partners
- Target
- Gibraltar Industries' Industrial business
- Seller
- Gibraltar Industries, Inc.
- Industry
- Manufacturing
- Location
- United States
- Type
- Divestiture
Gibraltar Industries completed the sale of its Industrial business to Pacific Avenue Capital Partners. Gibraltar described the divestiture as a portfolio management decision to focus on core, higher-growth markets and expects to use proceeds to reduce debt; Pacific Avenue views the acquired business as a platform for future add-on acquisitions in the fragmented industrial sector.
-
February 16, 2021
- Buyer
- American Industrial Partners
- Target
- High Pressure Solutions (HPS) segment of Ingersoll Rand
- Seller
- Ingersoll Rand
- Industry
- Manufacturing
- Location
- Texas, United States
- Type
- Divestiture
American Industrial Partners (AIP) agreed to acquire a majority interest in the High Pressure Solutions (HPS) segment of Ingersoll Rand, a transaction completed in early 2021. The deal (reported at about $300M) makes HPS a standalone business focused on manufacturing, service, and repair of high-pressure pumps and related consumables for the upstream energy market, with AIP providing operational support to drive product development, supply-chain optimization and growth.
-
February 8, 2021
- Buyer
- Bain Capital Private Equity, Cinven
- Target
- Lonza Specialty Ingredients
- Seller
- Lonza AG
- Industry
- Manufacturing
- Location
- Basel-Stadt, Switzerland
- Type
- Divestiture
Bain Capital Private Equity and Cinven have entered into definitive agreements to acquire Lonza Specialty Ingredients (LSI), a division of Lonza AG, for a total enterprise value of CHF 4.2 billion. LSI, headquartered in Basel, Switzerland, is a global provider of specialty chemicals for microbial control with ~2,800 employees, and the consortium intends to invest in R&D, bolster production capabilities and use LSI as a platform for buy-and-build consolidation in the sector; the transaction was expected to close in H2 2021.
-
February 3, 2021
- Buyer
- Worthington Industries, Inc.
- Target
- GTI Holding Company (General Tools & Instruments)
- Seller
- High Road Capital Partners
- Industry
- Manufacturing
- Location
- New Jersey, United States
- Type
- Divestiture
Worthington Industries, Inc. acquired GTI Holding Company, the parent of General Tools & Instruments, LLC, from High Road Capital Partners for $115 million. The sale, which closed on January 29, 2021, adds General Tools' hand-held and garden tool brands (including General, PacTool, Garden Weasel and Hawkeye) to Worthington's consumer products portfolio; High Road completed the investment in 2014 and substantially grew the business during its ownership.
-
February 2, 2021
- Buyer
- PMC Capital Partners, LLC
- Target
- Ransom & Randolph Company
- Seller
- Dentsply Sirona, Inc.
- Industry
- Manufacturing
- Location
- Ohio, United States
- Type
- Divestiture
PMC Capital Partners has acquired the assets of Ransom & Randolph Company, a 150-year-old manufacturer and supplier of specialty consumables for the investment casting industry, from Dentsply Sirona. The divestiture allows Dentsply Sirona to focus on its core dental business while PMC Capital plans to grow Ransom & Randolph through strategic acquisitions and organic expansion; financial terms were not disclosed.
-
January 15, 2021
- Buyer
- Employees of Falls Fabricating
- Target
- Falls Fabricating
- Seller
- Spell Capital Partners
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Divestiture
Spell Capital Partners announced the sale of Falls Fabricating, a Little Falls, Minnesota-based contract metal fabricator and CNC machining shop that Spell Capital had owned since 2007. The buyer was an employee ownership group (employees of Falls Fabricating) in a transaction intended to keep the business local and preserve jobs; Spell Capital described the transaction as a divestiture after 14 years of ownership.
-
January 5, 2021
- Buyer
- Esina Holding Corporation
- Target
- U.S. Industrial Tool & Supply Company, Arvan, Inc.
- Seller
- Corridor Capital
- Industry
- Manufacturing
- Location
- California, United States
- Type
- Divestiture
Esina Holding Corporation has purchased U.S. Industrial Tool & Supply Company and Arvan, Inc. from Corridor Capital, marking the fourth and fifth exits from Corridor Capital II, L.P. Both targets are co-located in Gardena, California; USIT is a distributor of professional tools (HS Tooling brand) for aerospace and precision industrial applications, while Arvan manufactures molded composite and machined components for aerospace, electronics and electrical power markets.
-
January 4, 2021
- Buyer
- DeZURIK, Inc.
- Target
- Red Valve
- Seller
- Hillenbrand, Inc.
- Industry
- Manufacturing
- Location
- Pennsylvania, United States
- Type
- Divestiture
DeZURIK, Inc. acquired Hillenbrand's Red Valve business in a divestiture completed December 31, 2020, at an enterprise value of $63 million (approximately $58 million cash plus a $5 million note). Hillenbrand said the sale aligns with its strategy to streamline its portfolio and that proceeds will be used primarily to reduce leverage.
Track M&A activity that matters to you
Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.