Alco Manufacturing, a portfolio company of Blue Point Capital Partners, has acquired Lakeshore Fittings, a designer and manufacturer of brass, stainless steel and aluminum fittings for the lawn and garden, gas distribution, plumbing and hydraulic industries.
Lakeshore Fittings was founded as Lakeshore Automatic Products in 1980. The company has a 90,000 sq. ft. manufacturing facility and headquarters located west of Grand Rapids in Grand Haven, MI (www.lakeshorefittings.com).
Alco is a provider of machined steel components used in high pressure fluid power applications. The company’s products include couplings, ferrules, sockets, sleeves, inserts and stems use by its customers as original and replacement parts in hydraulic systems. The company has over 220 employees and produces more than 60 million components annually. Blue Point acquired Alco Manufacturing in June 2011 from Stone Arch Capital. Alco was founded in 1971 and is headquartered west of Cleveland in Elyria, OH (www.alcomfgcorp.com).
According to Blue Point, the acquisition of Lakeshore will diversify Alco’s end markets, while expanding the company’s product offering and material capabilities. “For over 35 years, Lakeshore has been a leading provider of brass, eco-brass, stainless steel and aluminum fittings to its customer base,” said Sean Ward, a partner with Blue Point. “The addition of Lakeshore adds new material capability to Alco’s lineup of carbon steel machining solutions, creating immediate opportunities to work closely with customers to design custom fittings in various sizes and materials. Alco and Lakeshore are an excellent strategic fit.”
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, Cleveland, Seattle, and Shanghai (www.bluepointcapital.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 2-2-16
