Blue Point Capital Partners has acquired FM Sylvan, a provider of industrial pipe installation and fabrication. Blue Point acquired its equity interest in FM Sylvan from the senior managers of the company who maintain an ownership position in the company and will continue in their current executive positions.
FM Sylvan is an industrial contractor that provides industrial pipe fabrication and installation services. The company’s services include pipe design, fabrication and installation; millwright and rigging; turbine maintenance; boiler and chiller repair & erection; and other industrial maintenance. Customers of FM Sylvan are active in the automotive, energy, government, education, consumer products, water treatment, material handling, food and pharmaceutical markets.
“We have a strong desire to partner with a firm to help us more completely serve our customer base and expand our services and geographies. Blue Point is the fit for us not only due to their proximity but more importantly due to their experience with similar platforms and resources,” said Rob Metz, CEO of FM Sylvan.
The buy of FM Sylvan is the tenth platform investment for Blue Point’s third fund which closed in November 2014 at the hard cap of $425 million. “FM Sylvan represented an attractive opportunity to partner with a motivated management team looking to diversify and significantly grow the company,” said Sean Ward, a Partner with Blue Point. “As their first institutional partner, we believe that we can assist management with strategic planning, metrics development, data analytics and an add-on acquisition strategy.”
Blue Point Capital Partners is a lower middle market private equity firm that invests in manufacturing, distribution and service businesses that have from $20 million to $200 million in revenue and EBITDA greater than $5 million. The firm has over $800 million in committed capital and has offices in Cleveland, Charlotte, Seattle, and Shanghai (www.bluepointcapital.com).
“Following nearly three years of developing a relationship with FM Sylvan, we continue to be excited by the opportunities identified to generate growth,” said Jeff Robich, a Principal with Blue Point. “The company is well-positioned to execute numerous organic and acquisition initiatives, and we look forward to working with such a seasoned team.”
FM Sylvan was founded in 1956 near Detroit in Sylvan Lake, MI and today is headquartered in Pontiac, MI. The company has additional facilities in Perth Amboy, NJ; Nashville, TN; and Windsor, ON (www.fmsylvan.com).
© 2018 Private Equity Professional | March 21, 2018