Trive Capital has acquired the assets of SSW Holding Company, a manufacturer of a variety of products used in the appliance, HVAC and other industrial segments.
SSW manufactures steel and glass components that are used in a range of applications including residential and commercial refrigeration, cooking, HVAC, counterweights, reinforcing mesh, and home and office organization. The company’s products are sold to OEMs and include refrigerator and freezer shelving, oven racks, oven and burner grates, HVAC inlet and discharge grills, motor mounts and concrete castings, among many others.
SSW has six operating companies including Alabama Wire Products (Elizabethtown, KY); American Appliance Products (Madison, TN); Collis de Mexico (Monterrey, Mexico); Collis (Clinton, IA); Premier Manufacturing (Henderson, TN); and Straits Steel & Wire Company (Ludington, MI). In total, SSW has over 1.4 million square feet of manufacturing and warehouse facilities. The company was founded in 1946 and is headquartered in Fort Smith, AR (www.sswholding.net).
“We are excited to partner with a management team with a strong track record of product innovation, operational excellence, and customer service,” said Chris Zugaro, a Partner at Trive. “We believe SSW represents an opportunity to acquire a differentiated, value-added manufacturer with an established footprint that is well-positioned to capitalize on actionable organic and inorganic growth opportunities.”
Trive Capital invests from $10 million to $150 million of debt or equity in North American headquartered companies with revenues of $40 million to $1 billion. The firm is industry-agnostic but has specific experience in the following sectors: aerospace and defense, automotive, building products, business services, chemicals, construction and infrastructure, consumer goods, energy services, food and beverage, healthcare, plastics and packaging, and transportation and logistics. In September 2017, Trive Capital held a final closing of Trive Capital Fund III LP with $1 billion of capital commitments. The firm was founded in 2012 by Conner Searcy and Chris Zugaro and is based in Dallas (www.trivecapital.com).
“We look forward to working collaboratively with the SSW management team to execute on meaningful growth opportunities,” said Blake Bonner, a Partner at Trive. “Our goal is to provide support to allow the company to expand its product offering while maintaining or enhancing the customer focus that has made SSW successful for over 70 years.”
“Trive’s operating principles, investment strategies and proven record of value creation will prove essential as we collaborate to focus on growth and expansion while building on our market-leading position and history of continued product innovation,” said Paul Kara, SSW’s Chairman and CEO. “Complemented by the strengths of Trive, SSW will continue to focus on being a premier supplier and partner to our existing and future customers.”
© 2018 Private Equity Professional | May 8, 2018
