Smith-Cooper represents the 14th platform company for Blue Point II, a 2006 vintage lower middle-market buyout fund with $400 million in committed capital. Co-investors in this transaction included TIAA, Babson Capital, CDIB Capital (the overseas investing arm of China Development Financial Holding Corporation), BB&T Capital Partners and Smith-Cooper management.
Smith-Cooper International a designer, producer, importer and distributor of pipe, valves and fittings to the commercial and industrial, energy, chemical and petrochemical refining, and fire protection markets. Smith-Cooper offers over 22,000 SKUs and serves more than 2,500 customers globally. The company was formed in 1993 and is headquartered in Commerce, CA (www.smithcooper.com).
“We are excited to partner with the Smith-Cooper management team to continue the company’s long history of growth and profitability,” said Juli Marley, a partner with Blue Point. “Together with management and our operating resources, we plan to move on an accelerated path to grow the company’s current domestic footprint, extend Smith-Cooper’s international reach and augment the company’s procurement team. We look forward to impacting and sharing in this next phase of growth.”
Blue Point Capital Partners is a lower-middle-market private equity firm that invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue. The firm has over $800 million in committed capital and has offices in Charlotte, NC; Cleveland, OH; Seattle, WA and Shanghai, China (www.bluepointcapital.com).
“We are enthusiastic about our partnership with Blue Point and the unique value we believe they bring to the table,” said Ron Kurstin, chief executive officer of Smith-Cooper. “We’ll benefit from Blue Point’s presence in China as we continue to expand our product lines, shorten our lead times to market and serve new customers and geographies. Smith-Cooper has grown into a global leader in our industry, and we are excited about the outlook for our business,”
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-19-12