August 12, 2019 — May River Capital, LLC (“May River”) today announced that it has sold Pride Engineering, LLC (“Pride” or “the Company”) to Arcline Investment Management (“Arcline”).
May River acquired Pride Engineering in 2014. Since that time, Pride has established itself as a global leader in the design and manufacture of precision-engineered tooling, equipment, and aftermarket parts that are mission critical to the aluminum beverage packaging manufacturing process.
Steve Griesemer, Partner at May River, commented, “Thanks to innovative and engaged leadership, and a diverse and compelling product offering, Pride has grown into a differentiated provider of solutions for its customers. We believe Pride and its team are well-positioned for continued growth in partnership with Arcline.”
Greg Pickert, President and CEO of Pride, added, “We are excited to partner with Arcline, which shares our passion for supporting our customers’ vision of advancing the adoption of environmentally favorable packaging. Our excellent partnership with May River over the last five years has not only fueled our growth but has also positioned us well for the next stage of development.”
BMO Capital Markets served as financial advisor to May River in connection with the transaction. Paul Hastings LLP served as legal advisor to May River.
ABOUT MAY RIVER CAPITAL
May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market industrial growth companies. May River Capital invests in high-quality industrial growth businesses, including precision manufacturing, engineered products, specialized industrial services, and value-added industrial distribution services.
ABOUT PRIDE ENGINEERING
Pride Engineering is a leader in the design and manufacture of precision-engineered tooling, equipment, and parts that are mission critical to the aluminum beverage packaging manufacturing process. Pride’s products include tool packs, bottom formers, precision grinders, and connectivity solutions that enhance its customers’ processes. The Company maintains a state-of-the-art manufacturing facility in Minneapolis, Minnesota. www.pridecan.com