Branford Castle Partners, LP, a New York City-based private equity firm, today announced the acquisition of ABC Industries, Inc. This is the 10th transaction overall for Branford Castle’s fund, which closed in late 2016, and its sixth platform investment.
Headquartered in Warsaw, IN, ABC is a niche market leading manufacturer and distributor of high-quality flexible ventilation solutions and technical fabrics. Its products are essential for industrial ventilation, industrial textiles, underground mining and tunneling. While highly durable, its products are often replaced regularly.
ABC owns and operates two manufacturing plants, one in Warsaw, IN, and the other in Grand Junction, CO, that are strategically located to provide customers with optimal service. Founded in 1926, ABC’s customers have, in many cases, been with the company for decades. Its customers are often leaders within their respective industries.
“Branford Castle is excited about the ABC opportunity. It is a niche-market leader in many of its market segments and is well-positioned to continue to grow through a number of organic initiatives under the leadership of its excellent management team,” said Eric Korsten, Managing Director of Branford Castle.
“We are continuing our rapid pace of acquisitions for the fund,” said David A. Castle, Managing Partner of Branford Castle. “We look forward to partnering with management on their next phase of growth.”
The company is led by CEO Steven Fleagle, a 40+ year industry veteran. He is supported by a strong team of tenured executive leaders. “We are excited to partner with Branford Castle to accelerate new product development, production and process efficiencies, geographic and customer expansion and potential acquisitions,” said Fleagle.
“We are especially pleased to be working again with both TCF Capital Funding, which provided the senior debt financing, and Brookside Mezzanine Partners, which provided mezzanine debt financing and made an equity co-investment” said Eric Korsten.
Terms of the transaction were not disclosed.
About Branford Castle Partners
Branford Castle is an active investor in small-to-medium-sized private companies. With each new investment, Branford strengthens its 30+ year history of growing businesses. The firm typically makes control investments in companies with up to $100 million in total enterprise value and a leadership position in a niche industry. Branford Castle has deep experience in industrials, consumer goods & services and transportation & logistics industries. (www.branfordcastle.com)
