GenNx360 Capital Partners has acquired Horsburgh & Scott Co., a custom gearing manufacturer.
Horsburgh & Scott (H&S) manufactures, repairs, and services industrial gears and gear drives used in the steel, mining, wind, rail, and sugar industries. The company specializes in manufacturing medium and large diameter gears (up to 25 ft. in diameter). H&S has 350,000 square feet of manufacturing, repair, assembly and heat treating facilities. The company was founded in 1886 and has approximately 200 employees. H&S is headquartered in Cleveland (www.horsburgh-scott.com).
“With its proven management team and talented group of engineers, strong brand, and excellent customer relationships, we are very excited about the future prospects for H&S,” says Monty Yort, GenNx360 Managing Partner. “We expect to build on H&S’s legacy by leveraging our global C-suite relationships within the industry and executing on identified growth opportunities, both organically and through add-on acquisitions, as well as providing a valuable operating perspective to enhance an already exceptional company.”
GenNx360 Capital Partners is a private equity firm focused on investing in industrial business-to-business companies in the middle market. Sectors of interest include industrial machinery and components, oil and gas, transportation and logistics, agricultural, specialty chemicals, and aerospace. GenNx360 was founded in 2006 and is headquartered in New York with additional offices in Seattle and Boston (www.gennx360.com).
“Our goals are fully aligned with those of GenNx360. We are excited about this next step in the evolution of our company,” said Christopher Kete, H&S President and Chief Executive Officer. “GenNx360 has strong operational capabilities that perfectly fit our strategic focus for the next chapter.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-1-13
