Manufacturing Acquisitions in 2015

B12 Capital Partners has acquired Diamond Coach, a U.S.-based manufacturer of mid-sized passenger coaches headquartered in Oswego, Kansas. ClearRidge advised the owners on the sale; B12 was selected for its industry experience and alignment on growth strategy for the company.

Control Devices, LLC acquired specific operating assets of Flexi-Hinge Valve Company, Inc., an asset purchase that serves as Control Devices' seventh add-on. The deal expands Control Devices’ flow-control product line by adding Flexi-Hinge’s check valve technology used across municipal and industrial applications, while preserving product and customer continuity.

Heartland Equity Partners has acquired a majority stake in Cass Screw Machine Products, a 70-year-old precision machining company based in Brooklyn Center, Minnesota. The transaction enabled a retirement/ownership transition for the Greenwald family while supporting immediate expansion plans — Cass retained all 127 employees and began a 26,000 sq. ft. facility addition to expand machining and shipping capacity.

An affiliate of D'Orazio Capital Partners and F.N.B. Capital Partners acquired Red Head Brass, LLC, a Shreve, Ohio-based manufacturer of couplings and fittings for the firefighting, industrial and oil & gas markets. Red Head Brass was a portfolio company of Guard Hill Holdings; the buyers said they will partner with management to support the company's growth.

Arlington Precision Components, a newly formed platform of Rift Valley Equity Partners, has acquired the assets of Arlington Machine and Tool Company. AMT is a precision CNC machining manufacturer based in Fairfield, New Jersey, serving aerospace, defense, semiconductor and healthcare markets; the deal creates a platform to expand capabilities in close-tolerance machined components.

Industrial Group Holdings, a portfolio company of Dunes Point Capital, has acquired Standard Locknut, LLC from investors Capital For Business and Centerfield Capital Partners. Standard Locknut is a precision manufacturer of bearing accessories based in Westfield, Indiana; the deal expands Industrial Group Holdings’ manufacturing capabilities and product offering across industrial end markets.

Ansaco, LLC, a privately held family office, has acquired Johnson & Hoffman (J&H), a Long Island–based precision metal stamping manufacturer, including the firm's Carle Place, New York facility. Ansaco said it intends to work with existing employees and provide resources to grow J&H's manufacturing capabilities and operations.

Trelleborg AB, through its Offshore & Construction business area, has agreed to acquire Maritime International, Inc., a privately owned U.S. marine fender systems designer and manufacturer based in Broussard, Louisiana. The bolt-on deal expands Trelleborg's production and engineering footprint in North America and strengthens its berthing, docking and mooring offering; the acquired business has annual sales of approximately SEK 200 million and the transaction was expected to close in Q4 2015.

Long Trail Holdings has acquired Eastpointe Industries, a Muskogee, Oklahoma-based manufacturer of structural retrofit wireless tower components and new towers. ClearRidge advised the owners of Eastpointe on the sale; Long Trail was selected to help expand the platform and source key management to support continued growth.

Huskie Tools has acquired Hook International, Inc., a Clearwater, Florida-based manufacturer of utility and industrial hoists. Huskie will move Hook's operations to its Glendale Heights, Illinois headquarters and integrate the product line to continue serving utility linemen and other industrial customers.

HCAP Partners provided a mezzanine loan investment to U.S.-based LED manufacturer Noribachi to support the company’s manufacturing expansion and growth. The capital will help Noribachi scale production of its custom-engineered commercial and industrial LED lighting solutions and support its growing customer base.

Milliken & Company has acquired Springfield LLC, a family-owned U.S. manufacturer of technical, performance and flame-resistant fabrics headquartered in Jericho, New York. The acquisition expands Milliken's capabilities and product portfolio for industrial workwear, fire service and military markets and adds Springfield's manufacturing sites in South Carolina and technical expertise.

Accella Performance Materials, a portfolio company of Arsenal Capital Partners, has acquired Premium Spray Products Group of Companies (including PSP Canada). Premium Spray Products, a Marietta, Georgia–based manufacturer of spray foams and specialized polyurethane systems, will be integrated into Accella's polyurethane platform; the company's president Mac Hess will remain with Accella. The majority stockholder PFM Capital and other shareholders were represented by Bravaldo Capital Advisors in the transaction.

Main Street Capital Holdings, LLC has acquired I-Deal Optics Holdings, Inc., a Troy, Michigan-based supplier of prescription eyeglass frames. I-Deal was a portfolio company of Hadley Capital; Main Street said the acquisition will support the company’s continued growth and partnership with management.

United States Pipe and Foundry Company, LLC (U.S. Pipe), a portfolio company of Wynnchurch Capital and Comvest Partners, has acquired Custom Fab, Inc., a Florida-based fabricator of pipes and fittings serving the waterworks industry. The deal expands U.S. Pipe's fabrication footprint, adds specialty linings and coatings capabilities, and is intended to improve cost position and customer service across both companies' customer base.

Lippert Components, Inc., a wholly-owned subsidiary of Drew Industries Incorporated, has acquired Roehm Marine, LLC d/b/a Signature Seating, a portfolio company of Centerfield Capital Partners. The acquisition gives Lippert immediate entrance into the marine (pontoon boat) furniture market and supports Signature's plan to grow its marine and motorhome furniture businesses.

Colfax Creek Capital has acquired GLE Precision, LLC, a Bridgeport, Michigan-based precision manufacturer of tungsten carbide tooling, gauges and product components. The investment will provide Colfax Creek control of GLE and support the company's growth initiatives, including new equipment and expansion into new end markets across medical, semiconductor, automotive and other industries.

AAMP of America, a PE‑backed manufacturer of in-vehicle mobile electronics, has acquired California‑based Rosen Electronics. The acquisition expands AAMP's aftermarket product suite — adding rear‑seat entertainment, navigation and vehicle safety systems — and increases its R&D and engineering capabilities.

Tesla Motors, Inc. acquired substantially all assets of Riviera Tool, LLC, a Grand Rapids-based tool and die manufacturer that serves automotive, heavy truck, and military vehicle markets. The purchase brings in-house stamping and die capabilities from Riviera's 170,000 sq. ft. facility and ~100 skilled employees, supporting Tesla's vehicle manufacturing and supply chain needs.

PRETTL Manufacturing Corporation, a wholly owned subsidiary of The PRETTL Group, has acquired Kurz-Kasch, Inc. from Monomoy Capital Partners. Kurz-Kasch, a Newcomerstown, Ohio-based specialty manufacturer of coils, stators and related components with ~100 employees, will expand PRETTL's manufacturing capabilities and product offering across automotive, energy and industrial end markets.

Identity Group Holdings (an Ancor Capital Partners portfolio company) has acquired Allen Screen Printing, Inc., a Scarborough, Maine-based provider of screen-printing, digital printing, signage fabrication and fulfillment services. The add-on expands Identity Group’s capabilities and specialty presence in retail and grocery/convenience signage and fulfillment; terms were not disclosed.

Chicago-based holding company Madison Industries has purchased Ferry Industries Inc., a Stow, Ohio manufacturer of rotational molding machinery, band-saws and CNC machining centers. Ferry's president and long-time owner Harry Covington will remain as president and retain an ownership stake; Madison plans to make Ferry the foundational company for its new Madison Industrial Solutions group to grow via complementary acquisitions.

Intertape Polymer Group (IPG) acquired Better Packages Inc., a manufacturer of table-top water-activated tape dispensers based in Ansonia, Connecticut; the transaction closed on April 7, 2015. IPG said the acquisition expands its tape-and-dispensers product offerings and positions the company as a solutions provider for high-volume fulfillment channels; Better Packages will continue to be managed by CEO Philip White.

Ansell Limited (ASX:ANN) has agreed to acquire Microgard Ltd., a UK-based manufacturer of chemical protective clothing, for GBP 59 million (approximately US$88 million). The acquisition, subject to customary closing conditions and antitrust clearance, expands Ansell's body-protection portfolio and global manufacturing footprint; Microgard reported ~USD 40 million in 2014 sales and ~750 employees worldwide.

ALTIVIA has signed a definitive agreement to acquire the Specialty Phosgene Derivatives business and related assets from Axiall Corporation, including the La Porte, Texas chemical production facility. The transaction transfers roughly 120 facility employees to ALTIVIA and is intended to expand ALTIVIA's manufacturing capabilities and global competitiveness in specialty phosgene-derived products used in agricultural, pharmaceutical and industrial applications.

Greensboro, North Carolina-based private equity firm New Page Capital has acquired Engineered Steel Products, a Sophia, N.C.-headquartered structural steel fabrication company. The deal establishes a succession plan for the business: co-founders Rob Braswell and Richard Flournoy remain in executive roles while Rick Ramsey becomes president; Bundy Group and The Forrest Firm served as advisor and legal counsel, respectively.

Lindsay Corporation (NYSE: LNN) completed the acquisition of Elecsys Corporation (NASDAQ: ESYS) on January 23, 2015, paying $17.50 per share in cash. Elecsys — a provider of machine-to-machine (M2M) technology and custom electronic systems headquartered in Olathe, Kansas — will continue to be operated by its existing management and will support Lindsay's strategy to expand advanced water-management and M2M capabilities.

GRT Rubber Technologies L.L.C., a newly formed company funded by an investor group led by Main Street Capital Corp. and including members of Garlock Rubber's management, purchased Garlock Rubber Technologies from EnPro Industries Inc. for about $44 million. The Paragould, Arkansas-based rubber products maker (80–90 employees) will continue operations under management with new capital intended to support organic growth and potential future acquisitions.

PCX Aerostructures, LLC acquired Cam‑Tech Manufacturing, LP on December 23, 2014; Cam‑Tech will operate as a wholly owned subsidiary with Roger Hagger remaining as Vice President. The add-on expands PCX’s precision machining and integrated assembly capabilities for commercial and military aerospace (and power generation) customers; senior debt was provided by First National Bank of Pennsylvania, The PrivateBank, and First Niagara Bank.