Ideal-Tridon, a portfolio company of Industrial Growth Partners, has acquired the business and assets of Fast-Lok from Deco Products.
Fast-Lok is a manufacturer of preformed and open-ended hose clamps, strapping, buckles, and related installation tools that are used in the electrical, municipal, energy and general industrial markets. The business is located in Decorah, IA (click HERE to go to the Fast-Lok website).
Ideal-Tridon is a designer and manufacturer of specialty clamps and couplings used in industrial, heavy duty, plumbing, irrigation, marine and automotive applications. The company is headquartered in Smyrna, TN and was acquired by Industrial Growth Partners, along with management, in October 2011 (www.idealtridon.com).
“The acquisition of Fast-Lok continues our push into the global preformed clamp, strapping, and band and buckle market which began with our acquisition of Strapbinder six months ago,” said Mike Reese, President and CEO of Ideal-Tridon. “The addition of Fast-Lok fills out our product portfolio in this segment and allows us to better serve our global customer base.”
Industrial Growth Partners invests in North American-based manufacturing and manufacturing services companies that have histories of profitability and revenues of up to $250 million. The firm was founded in 1997 and is based in San Francisco (www.igpequity.com).
Deco Products, the seller of Fast-Lok, is a zinc die-caster of industrial parts, hose clamps, and residential window and door hardware. The company is based in Decorah, IA (www.decoprod.com).
© 2017 Private Equity Professional | June 9, 2017
