Industrial Group Holdings, a portfolio company of Dunes Point Capital, has acquired Standard Locknut, a manufacturer of bearing accessories used in OEM and replacement applications.
Standard Locknut’s bearing accessories include locknuts, lock washers, sleeves, and pillow blocks. Pillow blocks are a type of cast iron or cast steel bearing housing that is used to provide support for a rotating shaft. Standard Locknut sells its products to a variety of end markets including heavy construction, paper, mining, oil field, energy, and automotive. The company was founded in 1949 and is headquartered north of Indianapolis in Westfield, IN (www.stdlocknut.com).
Dunes Point Capital (DPC) is a family office and private investment firm that makes control investments in companies operating in the general industrial and energy sectors. DPC targets companies with enterprise values of up to $500 million.
DPC was founded in 2013 by Timothy White, a former Senior Managing Director of GSO Capital Partners and Blackstone where he served as Head of GSO Private Equity Investing, Co‐Head of Mezzanine Investing, and Co-Portfolio Manager for GSO’s Capital Opportunities Fund I. Dunes Point Capital is based in Rye, NY (www.dunespointcapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-3-15
