Sentinel Exits IEP Technologies
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Sentinel Exits IEP Technologies

IEP NF1Sentinel Capital Partners has sold its portfolio company IEP Technologies, an industrial explosion protection company, to Switzerland-based HOERBIGER Group.  Sentinel formed IEP Technologies in November 2013 to acquire the industrial explosion protection businesses of UTC Climate, Controls & Security, a unit of United Technologies.

IEP Technologies provides systems and services that suppress, isolate and vent potential combustible dust or explosive vapors in process industries.  The company operates from locations in the US, Germany, Switzerland, France, Turkey and the United Kingdom and is headquartered west of Boston in Marlborough, MA (www.ieptechnologies.com).

Under Sentinel’s nearly 2-year ownership, IEP relocated to new facilities in Germany, the United Kingdom, and Massachusetts, expanded into new geographies and markets, and expanded its customer base. During this transformation, IEP also increased its revenue and profitability.

Eric bommer nf1“Our investment in IEP began as a complex carve-out and included the integration of five separate global business units spread across multiple locations throughout the US and Europe,” said Eric Bommer, a partner at Sentinel. “During our ownership, management built a freestanding business that became the leader in a highly specialized, niche industry. We are proud to have been associated with such an outstanding business and are confident that IEP will continue to excel under the leadership of its talented management team.”

Sentinel Capital Partners invests in middle market companies in the United States and Canada in partnership with management. The firm invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of businesses with EBITDAs up to $65 million. Sentinel targets eight industry sectors: aerospace & defense, business services, consumer, distribution, food & restaurants, franchising, healthcare, and industrials. The firm is headquartered in New York (www.sentinelpartners.com).

Randy Davis nf1“We are very excited about what we have achieved in partnership with Sentinel. Their support and long-term perspective helped us perform well and also positioned us for continued success,” said Randy Davis, CEO of IEP Technologies.

HOERBIGER, the buyer of IEP Technologies, is an international conglomerate with businesses in compressors, industrial engines and turbines, automobile transmissions, and hydraulics. In 2014 the company had approximately 7,000 employees and revenues of 1.1 billion euros. HOERBIGER was founded in 1925 and is headquartered near Zurich in Train, Switzerland (www.hoerbiger.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 9-2-15

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