Cotton Creek Capital Captures ConeCraft

Cotton Creek Capital has acquired ConeCraft, a maker of equipment used in the pharmaceutical and biopharmaceutical industries.

ConeCraft specializes in manufacturing stainless steel bins, mixers, bioreactors, and tube management systems that are used for research and production in the biopharmaceutical market. The company sells its patented products to many of the largest biopharma companies in the world.

ConeCraft, founded in 2003 by CEO Jim Austin, has more than 120 employees and a 70,000 sq. ft. facility and headquarters in Fort Worth, Texas.

“ConeCraft was founded with the purpose of providing our customers with technically superior solutions, produced with tight manufacturing tolerances,” said Mr. Austin. “Cotton Creek’s relevant experience and operating approach were what our management team was seeking as we enter ConeCraft’s next phase of growth.”

“Jim, Sarah Schultz, and the rest of the management team at ConeCraft have built a differentiated business by providing highly-engineered solutions to end-users demanding stringent technical requirements,” said Antonio DiGesualdo, a managing partner of Cotton Creek. “In a market experiencing substantial organic growth, that has been further accelerated by the current pandemic, it is an ideal moment for our partnership with ConeCraft. We are excited to be a part of the ConeCraft team and execute on the substantial growth and expansion opportunities for the company.”

Cotton Creek’s investment in ConeCraft was made through its third fund, Cotton Creek Capital Partners III LP, which closed in August 2019 with $215 million in capital.

Austin-based Cotton Creek invests from $10 million to $40 million in companies with EBITDA between $5 million and $15 million. Sectors of interest include manufacturing, value-added distribution, industrial, specialty chemical, building products, food and beverage, and business services.

Private Equity Professional | October 6, 2020

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