Greenbriar Equity Group has sold Ryan Herco Flow Solutions to SunSource, a portfolio company of Clayton, Dubilier & Rice.
Ryan Herco is a distributor of fluid handling, filtration and flow control products that are primarily used in corrosive environments. The company’s product portfolio has more than 70,000 SKUs and includes filters, filtration systems, pipes, valves, fittings, pumps, instrumentation and other equipment. Ryan Herco has more than 15,000 customers that are active in the industrial, semiconductor, water and wastewater, life science, power generation, and food and beverage sectors.
The company, led by CEO Randy Beckwith, has a nationwide network of 31 distribution centers, a location in Singapore, and a corporate headquarters in Burbank, CA (www.ryanherco.com).
SunSource is one of North America’s largest fluid power distribution companies. The company has more than 150,000 SKUs that are used in hydraulics, pneumatics, filtration, and automation systems in the industrial and mobile equipment markets. SunSource has 58 nationwide locations and is headquartered near Chicago in Addison, IL (www.sun-source.com). SunSource was acquired by Clayton, Dubilier & Rice from Littlejohn & Co. in December 2017. Littlejohn acquired SunSource from CHS Capital in October 2011.
“Like SunSource, Ryan Herco is known for its ability to solve complex customer challenges through its deep supplier relationships and talented professionals recognized in the industry for their technical expertise and customer orientation,” said David Sacher, CEO of SunSource. “This is a highly strategic and complementary combination that will broaden our product offering, enhance our end-market exposure and expand our geographic reach.”
During Greenbriar’s ownership of Ryan Herco, the firm worked with the company to expand its market through organic expansion into new geographies and complementary products, while also closing three add-on acquisitions. In July 2015 it acquired The Panner Company, a manufacturer of fluid handling and control equipment based in Frankfurt, IL; in March 2015 it acquired EMI, a Tualatin, OR-based distributor of fluid handling and pump repair products used in the microelectronics and general industrial markets; and in February 2015 it acquired GFI Stainless, a distributor of stainless steel and special alloy fluid handling products, with facilities in Modesto and Corona, CA.
“We are proud to have partnered with the high-caliber management team at Ryan Herco,” said Niall McComiskey, a Managing Director at Greenbriar Equity Group. “We’re pleased to have supported the company through a period of strong growth under our ownership, and believe Ryan Herco is poised for continued success in the future.”
Greenbriar Equity Group invests from $50 million to $150 million per transaction in the global transportation industry, including companies in aerospace & defense, automotive, freight & passenger transport, logistics & distribution, and related sectors. The firm manages $2.5 billion of committed capital and is based in Rye, NY (www.greenbriarequity.com).
Clayton, Dubilier & Rice (CD&R) invests in European and US-based businesses. Since founding in 1978, the firm has invested $25 billion in 78 companies across a range of industries with a total transaction value of approximately $100 billion. CD&R was founded in 1978 and is based in New York and London (www.cdr-inc.com).
Harris Williams & Co. was the financial advisor to Ryan Herco.
© 2018 Private Equity Professional | May 1, 2018