Manufacturing Acquisitions in Oregon

Arcadia Paper Mills, LLC completed the purchase of the former Boise paper mill in St. Helens, Oregon from the City of St. Helens as the first step in reactivating the industrial site. The newly formed company plans to produce paper towels and napkins at the facility and has already hired 15 local workers to begin recommissioning the mill.

Arclin has completed the acquisition of The Willamette Valley Company (WVCO), adding eight manufacturing and R&D facilities and roughly 500–540 employees to its global materials science platform. The deal expands Arclin's materials science capabilities across coatings, adhesives and repair systems and broadens its end-market exposure in wood products, railroad, concrete repair, transportation and infrastructure.

Nextracker has acquired Origami Solar in an all-cash transaction of approximately $53 million (including contingent earnout), expanding into the solar panel frame market. The deal brings Origami’s U.S.-based recycled-steel frame technology and manufacturing capacity into Nextracker to strengthen domestic supply chains, improve panel strength and durability, and accelerate adoption of steel frames across the industry.

Arnold, Missouri-based Sinclair & Rush, Inc. has acquired Protoco Enterprises, LLC, a family-owned dip and injection molding and vacuum-formed storage and organization products manufacturer headquartered in North Plains, Oregon. The acquisition expands Sinclair & Rush's manufacturing capabilities and resources to support Protoco's customers and preserve its product lines; financial terms were not disclosed.

Signia Aerospace, a portfolio company of Arcline Investment Management, has acquired Precise Flight, Inc., a Bend, Oregon-based designer and manufacturer of aviation safety and performance systems. The acquisition is an add-on to Signia's aerospace platform intended to expand its product capabilities and aftermarket/OEM offerings across commercial, business, rotorcraft and general aviation markets.

Bochi Investments, a Pacific Northwest private equity firm based in Lake Oswego, Oregon, has completed a platform acquisition of Diversified Marine, Inc (DMI), a Portland-based shipbuilder and shipyard services provider founded by Kurt Redd. DMI president Frank Manning will be elevated to owner and CEO as part of a management partnership; Umpqua Bank provided debt financing and legal advisors included McGuire Woods (for Bochi) and Miller Nash (for the Redd family).

Moss, a global producer of branded-experience graphics and structures, has acquired Stretch Shapes, a Eugene, Oregon-based supplier of tension fabric products used in live events and experiential environments. The deal — executed by Moss (a portfolio company of EagleTree Capital) — strengthens Moss’s production capabilities and west-coast footprint while keeping the Stretch Shapes leadership and team in place.

An affiliate of Balmoral Funds LLC has acquired DWFritz Automation, LLC from Sandvik AB. Balmoral will partner with industry veterans Michael Pacione, Paul Cihak, Tyler McCoy, and Jason Darley to operate DWF as an independent precision automation and metrology company and invest in technology, commercial expansion, and growth.

Kadant Inc. has agreed to acquire Key Knife, Inc. and certain affiliates for approximately $156 million in cash, with the deal expected to close in early January 2024. Key Knife, headquartered in Tualatin, Oregon, (141 employees, ~$65M trailing twelve-month revenue) will become part of Kadant's Industrial Processing segment; the acquisition will be financed primarily through borrowings under Kadant's revolving credit facility.

LFM Capital, a Nashville-based private equity firm focused on lower middle market manufacturing and industrial services, has invested in SisTech Manufacturing, a Bend, Oregon-based contract manufacturer of high-complexity printed circuit board assemblies (PCBAs). The investment makes SisTech the sixth platform company in LFM's third fund and is intended to support growth and operational expansion in defense, aerospace, industrial, and consumer end markets.

Ultra Clean Holdings (UCT) has acquired HIS Innovations Group, a Hillsboro, Oregon-based supplier of semiconductor sub-fab components and integrated systems. UCT paid $50 million in upfront cash with up to $50 million in earn-outs (and potential additional performance-based consideration), aiming to expand its sub-fab capabilities, addressable market by ~$1.5 billion, and accelerate growth in semiconductor manufacturing.

Specialized Fabrication Equipment Group LLC (SFEG), a portfolio company backed by Gladstone Investment Corporation, acquired CPMT Holdings Corp. and its subsidiaries including Climax Portable Machine Tools, Inc. Gladstone Investment Corporation provided additional debt and equity to support the add-on acquisition, which closed on October 19, 2023; the seller was Industrial Growth Partners (IGP).

Chicago-based ERA Industries has acquired i3DMFG, a Redmond, Oregon-based metal 3D printing (DMLS) service provider. The deal is an add-on to ERA’s PE-backed platform (supported by L Squared Capital Partners) to expand the platform’s metal additive manufacturing and production parts capabilities for aerospace, defense and medical end markets.

Gemini Investors portfolio company American Standard Circuits has completed the acquisition of Sunstone Circuits, a Mulino, Oregon-based manufacturer of quick-turn printed circuit boards. The add-on expands ASC's prototyping and quick-turn capabilities, adding online design and ordering tools and broader capacity to serve engineers across electronics, medical and industrial end markets.

Duravant LLC, a global engineered equipment and automation solutions provider, has acquired PPM Technologies from Stonehenge Partners. The acquisition adds PPM’s conveying, coating, and thermal food-processing equipment to Duravant’s portfolio — complementing Key Technology and enhancing Duravant’s ability to offer turnkey, integrated processing lines and expanded aftermarket services.

iNRCORE, a family of magnetic-component brands backed by private equity firm The Jordan Company, has acquired Sentran Corporation, a Salem, Oregon-based manufacturer of instrument transformers and transducers. Sentran will operate as a wholly owned subsidiary of iNRCORE, retaining its leadership and headquarters while expanding iNRCORE's product offerings into power/distribution monitoring and control markets.

Excelitas Technologies Corp. completed the acquisition of Phoseon Technology, Inc. on February 15, 2023, adding Phoseon's LED-based UV curing and scientific illumination capabilities to its commercial business unit. Phoseon will continue to operate from its Hillsboro, Oregon headquarters and the deal expands Excelitas' product portfolio and R&D cooperation in UV LED solutions across industrial, medical device, electronics and life-sciences end markets.

An affiliate of Maple Hill Capital has acquired Warne Scope Mounts from Salt Creek Capital. Warne, a U.S.-based manufacturer of firearm scope mounting systems founded in 1991 and headquartered in Tualatin, Oregon, will be positioned for further scaling and capability expansion under the new ownership.

Atlanta-based private equity firm Crown Capital Investments has acquired Pacific Yurts, Inc., the original designer and manufacturer of the modern yurt. The acquisition adds the Cottage Grove, Oregon-based yurt maker to Crown Capital's portfolio and aims to support Pacific Yurts' growth, product innovation, and mission of providing quality, affordable, environmentally friendly shelters. Crown said the partnership will enable the company to enhance opportunities for employees and expand its market presence.

Atkore Inc. has acquired two Oregon-based companies: Cascade Poly Pipe & Conduit (Woodburn, OR) and Northwest Polymers (Molalla, OR). The acquisitions expand Atkore’s HDPE conduit manufacturing footprint in the Pacific Northwest, strengthen its supply chain through onshore plastics recycling, and support demand from 5G deployment and infrastructure-driven broadband projects.

TE Connectivity has acquired Linx Technologies, an antenna design and RF components manufacturer, from Argosy Private Equity. The acquisition expands TE’s antenna and RF product offerings and strengthens its go-to-market capabilities in IoT, commercial, government and industrial end markets.

Compass Precision, a Charlotte-based platform backed by Main Street Capital Holdings, has acquired Strom Manufacturing, a precision metal components manufacturer based in North Plains, Oregon. The transaction is an add-on to the Compass platform; founder Bill Strom and the existing management team will remain in place as Compass integrates Strom into its network of precision machine shops.

JDH Capital Company has acquired Pure Archery Group, a manufacturer of premium archery products headquartered in Eugene, Oregon; the transaction closed on July 1, 2022 and financial terms were not disclosed. Norwest Equity Partners exited its investment in Pure Archery as part of the sale; Pure Archery's brands include Bowtech, Diamond, Excalibur, Black Gold, TightSpot, RipCord and Octane.

Sinclair & Rush, Inc. completed the acquisition of Indepak Corporation, a Portland-based thermoform manufacturer, on May 17, 2022. The deal expands Sinclair & Rush's thermoforming capacity and adds a West Coast manufacturing footprint while broadening product offerings for medical, food and industrial packaging customers.

SureWerx has acquired Footwear Specialties International (FSI), adding the Avenger and Nautilus safety footwear brands to its portfolio. The transaction was completed as an add-on to SureWerx's platform with support from its sponsor, The Riverside Company, to expand SureWerx’s safety footwear offering and distribution reach.

International Flavors & Fragrances (IFF) has acquired Health Wright Products (HWP), a Clackamas, Oregon-based contract manufacturer specializing in formulation, encapsulation and packaging for dietary supplements. HWP operates ~165,000 sq ft of manufacturing space, generated about $100 million in revenue in 2021 and employs over 225 people; the deal expands IFF's Health & Biosciences capabilities for probiotics, natural extracts and botanicals.

Platinum Equity has completed the acquisition of Oregon Tool (formerly Blount International) from American Securities and P2 Capital Partners. Oregon Tool, a Portland-based global manufacturer and distributor of saw chain, guide bars, lawn mower blades and related aftermarket products with more than 3,200 employees, will be positioned as a platform for growth and further add-on acquisitions under Platinum Equity's ownership.

JSR Corporation agreed to acquire Corvallis, Oregon-based Inpria Corporation for USD $514 million, purchasing the remaining outstanding shares to make Inpria a wholly owned subsidiary. The transaction, subject to regulatory approvals, is intended to combine Inpria's metal oxide EUV photoresist technology with JSR's manufacturing and commercial capabilities to accelerate adoption in high-volume semiconductor production.

The Riverside Company has invested in Tiger Lights as an add-on to its Arrowhead Engineered Products (AEP) platform. Tiger Lights, based in Tangent, Oregon, is a manufacturer of aftermarket LED lighting for agricultural and industrial equipment; the deal expands AEP’s non-discretionary product offering and distribution reach in domestic and European end markets.

48forty Solutions, a portfolio company of Audax Private Equity, has acquired Oregon Pallet Repair, Inc., Bailey Pallet, LLC, and Oregon Wood Fibre Recycling, LLC (together “Oregon Pallet”). The deal adds regional pallet recycling, remanufacturing and wood-recycling capabilities (headquartered in Salem, Oregon with an additional facility in Boise, Idaho) as an add-on to 48forty’s national pallet management platform.

CORE Industrial Partners, a Chicago-based private equity firm, has acquired Kelvix LLC, a Lake Oswego, Oregon-based designer and supplier of commercial linear LED lighting systems. The investment is CORE's first from its Fund II and is intended to accelerate Kelvix's growth by leveraging CORE's lighting industry expertise and capital to expand capabilities and customer experience.

Critical Process Systems Group (CPS), a portfolio company of Wynnchurch Capital, has acquired Nuance Systems (NSI), a Portland-based supplier of ultra-high purity gas and chemical delivery systems and sensing technologies for the semiconductor and solar industries. The deal expands CPS's capabilities and customer diversification; NSI's co-owners Bill Kimmerle and Kyle Kimmerle will remain as CEO and President, respectively.

Precinmac Precision Machining acquired Albany, Oregon-based Viper Northwest, Inc. and Tualatin, Oregon-based Shields Manufacturing, Inc., strengthening its West Coast presence and expanding precision machining capabilities. The add-on acquisitions broaden Precinmac's capacity to serve semiconductor, aerospace, defense and life sciences customers; financial terms were not disclosed.

Los Angeles-based private equity firm Westhook Capital has made an investment in RainShadow Labs, a St. Helens, Oregon-based private-label manufacturer of natural and organic personal care products. The capital will help RainShadow expand its product development, manufacturing and logistics capabilities to better support independent skincare and personal-care brands.

Parade Technologies, Ltd. agreed to acquire Fresco Logic, Inc. for $37.5 million in cash to expand its high-speed USB Type-C connectivity portfolio and accelerate its USB4 roadmap. The deal includes Fresco Logic's USB hub, port expansion, Power Delivery products and related intellectual property; the transaction is expected to close in Parade's fiscal Q2 2020 and will be funded from cash on hand.

Microtec, the Italy-based leader in lumber scanning and optimization systems, has acquired Lucidyne Technologies, Inc., a Corvallis, Oregon-based manufacturer of AI-enabled computer vision, scanning and automation technologies for the forest products industry. The acquisition combines Lucidyne’s Perceptive Sight deep-learning AI with Microtec’s broad product range to create an integrated, mill‑wide lumber scanning solution and expand both companies’ product lines and geographic reach.

Minimizer, a manufacturer and distributor of heavy‑duty truck aftermarket accessories, acquired Premier Manufacturing Company of Tualatin, Oregon in January 2020. The transaction — executed with backing from private equity firm Capital Partners — is an add‑on to Minimizer's business intended to expand product lines, manufacturing capabilities, and geographic reach; former owner Paul Grycko remains invested and joins the management board.

Germany-based RENA Technologies GmbH, backed by private equity firm Equistone Partners Europe, has acquired US-based MEI LLC (Albany, Oregon) to strengthen its semiconductor wet-chemical processing capabilities and expand its presence in the US market. The deal combines complementary product portfolios and service organizations to offer end-to-end wet-chemical process solutions across semiconductor, MEMS and SiC processing applications.

Guardian Capital Partners invested in WS Acquisition, LLC, the parent of Western Shelter Systems and CrewBoss, partnering with the company’s executive management (CEO Michael Scala and CFO Greg Lyons) to support growth. Centerfield Capital Partners provided financing and minority equity; Guardian plans to expand the business through infrastructure and product investment and add-on acquisitions.

Polytek Development Corp., a portfolio company of Arsenal Capital Partners, has acquired Stone Coat Countertops, a Grants Pass, Oregon-based supplier of epoxy coating and casting systems. The deal adds Stone Coat's educational platforms, web-based channels, and consumer-facing product portfolio to Polytek's specialty polymers and consumer brands as an add-on to broaden casting and coating capabilities.

Hemptown Organics Corp (Hemptown USA) acquired substantially all assets of the Kirkman Group, an FDA-licensed, cGMP-certified nutraceutical manufacturing business based in Lake Oswego, Oregon. The deal provides Hemptown a 25,000 sq. ft. manufacturing facility, formulations, production equipment, and the Kirkman management team and IP, accelerating Hemptown's vertical integration and entry into consumer packaged goods.

The Middleby Corporation has acquired EVO America, Inc., a Portland-area designer and manufacturer of patented ventless cooking equipment for the commercial foodservice market. The acquisition, advised by Auctus Capital Partners, expands Middleby’s ventless cooking product offerings and allows integration of EVO’s technology into Middleby’s global sales and distribution channels; terms were not disclosed.

Stonehenge Partners acquired PPM Technologies, LLC in January 2019. PPM, headquartered in Newberg, Oregon, designs, engineers, and manufactures food processing equipment and replacement parts for a global base of packaged food producers.

MSI Capital Partners partnered with Aavin Equity Partners and Green Diamond management to recapitalize Green Diamond Sand Products and form Green Diamond Performance Materials Inc. as a platform to fund continued growth and potential add-on investments in the industrial minerals sector. The transaction closed on September 8, 2017, with Orca Capital Securities advising the company.

Actuant Corporation (NYSE:ATU) has acquired Kwikee Products Company, a Cottage Grove, Oregon-based maker of actuation and storage systems for the North American recreational vehicle market, in an asset purchase valued at approximately $30 million. Kwikee, which employs about 115 people across Oregon and Indiana and generated roughly $24 million trailing twelve-month sales, will operate within Actuant's Engineered Solutions segment and be combined with Actuant's Power Gear business to capture product and customer synergies.