Manufacturing Acquisitions in 2011

Houston-based private equity firm Pummerin Investments made a minority equity investment in Aspen Manufacturing to provide growth capital for expansion and selective acquisitions. Aspen Manufacturing, headquartered in Humble, Texas, will continue to be led by David Piccione, who remains the company's majority shareholder and president.

Kolpin Outdoors Inc. is purchasing the ATV Accessories product line from Cycle Country Accessories Corp. for $9.7 million, with $3.2 million paid at closing, $1 million in near-term installments, and a $5.5 million earn-out over three years. Cycle Country (Spencer, Iowa) is selling only the product line and will continue to manufacture ATV accessories for Kolpin under a manufacturing agreement.

Monarch Robe & Towel Co. acquired Cypress Luxury Bath & Bed Amenities from Russell Newman Brands, completing the transaction on July 13, 2011. The deal consolidates two major suppliers of bathrobes, towels and linens for the global hospitality industry to expand product offerings and customer reach.

Heckethorne Manufacturing Company, a portfolio company of Renovo Capital (co-owned with Rosewood Private Investments), has acquired substantially all assets of Erisco Industries Inc. The deal adds Erisco’s wire-formed product manufacturing capabilities and facilities in Erie, Pennsylvania and Monterrey, Mexico to Heckethorne’s operations, expanding manufacturing capabilities and geographic footprint; senior debt financing was provided by First Tennessee Bank.