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.
Private Equity firm May River Capital, an investor in lower middle-market industrial growth businesses, has completed a merger that brings together Stancor, L.P. (www.stancorpumps.com) with BJM Pumps LLC (www.bjmpumps.com). Terms were not disclosed.
The merged businesses will be a part of Industrial Flow Solutions (“IFS”) (www.industrialflowsolutions.com), a portfolio company of May River Capital, which specializes in the design, manufacturing, sales and service of pumping and fluid management solutions for harsh, rugged environments.
Private Equity firm May River Capital, an investor in lower middle-market industrial growth businesses, has completed its acquisition of Marion Process Solutions (“Marion”) (www.marionsolutions.com). Terms were not disclosed.
Marion represents the first acquisition that will form a new global Materials Processing Solutions and Services platform by May River. Marion’s CEO, Lee Eilers, will continue to head the leadership team.
Private Equity firm May River Capital, an investor in lower middle-market industrial growth businesses, has completed its acquisition of The Dickson Company (“Dickson”) (www.dicksondata.com). Terms were not disclosed.
Dickson represents the first acquisition that will form a new Test & Measurement (“T&M”) Instrumentation platform by May River. Rick Weiler, a member of May River’s Executive Resource Group, will serve as Executive Chairman of the T&M platform.
Private equity firm May River Capital, an investor in lower middle-market industrial growth businesses, has completed its acquisition of BJM Pumps, LLC (“BJM Pumps”) (www.bjmpumps.com). Terms were not disclosed.
BJM Pumps represents the first acquisition that will form a new Industrial Pump platform by May River. Brad Sterner, a member of May River’s Executive Resource Group, will serve as Executive Chairman of the Pump Platform as well as interim CEO of BJM Pumps. This is the second May River investment platform involving Sterner, whose prior career included leadership roles with Emerson, Danaher, IDEX, Rexnord and Colfax.
MECA Solutions, a portfolio company of May River Capital, announced it has acquired Industrial Engraving (“IE”) (www.industrial-engraving.com). Headquartered in Pulaski, Wisconsin, IE manufactures and services embossing rolls and embossing machines for use in the paper, foil, tissue, non-woven, and film industries. This first add-on for MECA complements the company’s existing roll business and provides additional platform diversification with attractive customers and end-markets.
May River Capital, a Chicago-based private equity investment firm, announced it has raised its inaugural fund (“May River Fund I” or “Fund”). May River Fund I closed with total LP commitments of $170 million, following a six-month fundraising process in which investor demand substantially exceeded May River Fund I’s target size. The Fund will continue May River’s focus on investing in high quality, lower middle-market industrial businesses with excellent management teams and the potential for significant growth and value enhancement.
Hunt Valve Company, a portfolio company of May River Capital, announced it has acquired the assets of Precision Technology. Precision Technology is a severe duty, solutions-based designer, manufacturer and supplier of linear motion actuators for automation, machinery, material handling and positioning applications. Precision Technology will be rebranded Hunt Valve Company - Actuator Division. This first add-on for the company complements Hunt Valve’s severe duty, fluid power engineering solutions for military and industrial customers.
Private equity firm May River Capital, an investor in lower middle-market industrial growth businesses, has completed its acquisition of MECA Solutions (“MECA”) (www.mecagb.com). Terms were not disclosed.
MECA Solutions represents the first acquisition that will form a new engineered products platform by May River. Paul Schulz, a member of May River’s Executive Resource Group, will serve as Executive Chairman of the platform. This is the second May River investment platform involving Schulz, whose prior career included leadership roles with Webex and Packaging Corporation of America.
Private equity firm May River Capital, an investor in lower middle-market industrial growth businesses, has completed its acquisition of Hunt Valve (www.huntvalve.com). Terms were not disclosed.
Hunt Valve represents the first acquisition that will form a new global fluidics engineering platform by May River.
Hi-Tech Manufacturing, a portfolio company of May River Capital, announced it has acquired a majority interest in GCM Medical and OEM, Inc. and Global Contract Manufacturing (HK) Limited. Headquartered in Union City, California, with a second facility in Dongguan, China, GCM is a preferred supplier of contract manufacturing services to leading OEMs in the medical, industrial, transportation, and aerospace sectors. The combined entity will collectively be known as GCM (www.gogcm.com).
Private equity firm May River Capital, an investor in lower middle-market industrial growth businesses, has completed its acquisition of Pride Engineering, LLC (“Pride”) (www.pridecan.com). Terms were not disclosed.
Pride, based in Brooklyn Park, Minnesota, designs and manufactures highly engineered, mission critical machine tools and equipment used globally in the production of two—piece metal cans for the beverage and food industries.
May River Capital announced that it is actively seeking potential add-on acquisitions for Hi-Tech Manufacturing, LLC (“Hi-Tech”) (www.hi-tech-mfg.com). Hi-Tech is a world- class manufacturer of low-to-medium volume, mission-critical precision machined components and assemblies.
Private equity firm May River Capital, an investor in lower middle-market industrial growth businesses, has completed its acquisition of Hi-Tech Manufacturing, LLC (“Hi-Tech”) (www.hi-tech-mfg.com). Terms were not disclosed.
May River Capital announced the acquisition in partnership with management, the Pohlad family, Yukon Capital Partners, L.P., and other co-investors. The transaction strengthens the foundation for Hi-Tech to continue growth in existing end-markets and to pursue selective acquisition opportunities. Cleary Gull Inc. served as financial advisor to Hi-Tech and the selling shareholders in this transaction. Fifth Third Bank provided senior debt financing, while Yukon provided subordinated debt financing beyond its equity co-investment.
