Hidden Harbor Closes on Fourth Platform
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Hidden Harbor Closes on Fourth Platform

Hidden Harbor Capital Partners has acquired sister companies Anchor Danly and AWC Manufacturing.

Anchor Danly is an international manufacturer and distributor of die sets, components, steel plates, and metal fabrications that are used in the production of tools, dies, and molds for metalworking and plastics injection molding, machine bases, mining and construction equipment. According to the company, they are the largest North American manufacturer of large engineered die sets used by the automotive and automotive parts industries.

Other users of the company’s products include manufacturers of industrial and textile machinery, motors, generators, electronic equipment, aircraft, diesel and other internal combustion engines. Anchor Danly has manufacturing facilities in Windsor, Cambridge, and Tilbury, ON; Montreal, QC; Ithaca, MI; and Los Angeles, CA. The company was founded in 1922 and is headquartered in Windsor, ON (www.anchordanly.com) (www.alloy-welding.com).

“We are thrilled to partner with Hidden Harbor,” said Mike Hayton, President of Anchor Danly and AWC. “Their deep operational resources and manufacturing expertise will help us execute against our significant growth opportunities while continuing to deliver exceptional service to our existing customers.”

Hidden Harbor makes investments in US-based companies with revenues between $50 million and $500 million and EBITDA from $5 million to $25 million. Sectors of interest include industrials, transportation and logistics, business services, and consumer products. Hidden Harbor is based in Boca Raton (www.hh-cp.com).

“In partnership with the Anchor Danly and AWC management teams, we look forward to executing on a comprehensive growth strategy and providing operational and financial resources to help the company effectively scale its operations,” said Chris Paldino, a Founding Partner at Hidden Harbor.

“Over its nearly 100-year operating history, Anchor Danly has established itself as the market leading brand in die sets and plates, recognized for its superior quality, technical expertise, customizable product portfolio, broad service offering and responsive delivery to its loyal customer base,” said Andrew Joy, a Principal at Hidden Harbor.

Anchor Danly is the fourth platform investment for Hidden Harbor. The three earlier transactions were the July 2018 acquisition of Rohnert Park, CA-based Masterwork, a provider of printed circuit board assembly services and cable and harness assembly; the May 2018 acquisition of Fort Smith, AR-based Cloyes Gear and Products, a designer, manufacturer and distributor of timing drive systems and components for replacement applications in the automotive aftermarket and high-performance racing segment; and the August 2017 acquisition of Stella Environmental, a provider of municipal solid waste transfer station management and transportation services in the Texas and southwestern US market.

Czech Asset Management provided debt financing for the buy of Anchor Danly. Czech has approximately $4.5 billion of committed capital under management and makes asset-based and cash-flow, first and second lien floating-rate senior secured loans primarily to US-based middle market companies that have annual revenue of $75 million to $500 million and EBITDA of $7.5 million to $50 million. The firm was founded in December 2011 by Stephen Czech and is headquartered in Old Greenwich, CT (www.czechamlp.com).

Lincoln International (www.lincolninternational.com) was the financial advisor to Anchor Danly and Configure Partners (www.configurepartners.com) was the financial advisor to Hidden Harbor.

© 2018 Private Equity Professional | September 21, 2018

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