Sage Metals, a portfolio company of Delos Capital, has acquired Jayco Manufacturing.
Jayco assembles, integrates and produces custom metal formed components that are used by a variety of manufacturers that are active in the computer, office equipment, medical, HVAC, appliance, automotive and truck, vending, and marine markets.
The company’s services include metal fabrication, laser cutting, metal stamping, powder coating, prototyping, and welding. Jayco has three production facilities in Grand Prairie, TX (100,000 sq. ft.); Elgin, SC (35,000 sq. ft.); and Fort Worth, TX (35,000 sq. ft.). Jayco, founded in 1995, is headquartered in Grand Prairie and has annual revenues of more than $18 million (www.jaycomfg.com).
Sage Metals is a manufacturer of copper, steel, aluminum, and zinc components used in a variety of products in the electrical, industrial, and drainage products sectors. The company’s operations include sand-casting, high-pressure die-casting, gravity die-casting, investment-casting, and stamping. Sage Metals is headquartered in New Delhi, India (www.sagemetals.com). Delos acquired Sage from its founders, Vinod Agarwal and S.P. Agarwal, in March 2018.
“We here at Jayco are excited to be joining Sage, a world leader in metal fabrication, machining and castings,” said Kevin Maynard, the CEO of Jayco. “They bring us into the market with a distinct advantage over all of our domestic competitors. Combining their portfolio of products and customers with our current customer base and manufacturing capabilities, we will be leading the industry into the future.”
“Sage is very excited about this acquisition. Jayco will enhance our process and marketing capabilities to service our customers in North America. The rich experience of Kevin Maynard of Jayco will be of immense value to Sage in pursuing its growth objectives in North America in the coming years,” said R. Krishnan, CEO of Sage.
Delos Capital is a lower middle market private equity firm specializing in management buyouts, recapitalizations, and growth investments. The firm was founded in 2013 and is based in New York (www.deloscap.com).
© 2019 Private Equity Professional | March 4, 2019