Gen Cap America has acquired Canfield Technologies, a maker of metal joining products, from SKF, a large bearing and seals manufacturer based in Sweden. The enterprise value – on a cash- and debt-free basis – is approximately $23 million.
Canfield Technologies, acquired by SKF as part of its acquisition of Kaydon Corporation in October 2013, is a manufacturer of solder, pastes and preforms used in metal joining applications. Customers of Canfield are active in the electronics, plumbing and jewelry industries. Revenues for the company were approximately $17 million in 2014. The company is based in Sayreville, NJ (www.canfieldmetals.com).
Gen Cap America invests in companies with revenue between $5 million and $100 million that are active in the manufacturing, distribution or service sectors. The firm is currently investing through Southwest Fund VI, a $165 million fund closed in May 2010. Gen Cap was founded in 1985 and is based in Nashville (www.gencapamerica.com).
SKF is a global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. The company is headquartered in Gothenburg, Sweden (www.skf.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 8-17-15