Polished Metals Limited, a Sky Island Capital portfolio company, has acquired Pride Metal Polishing.
Polished Metals is one of the country’s largest polishers and suppliers of architectural and ornamental metals used in the architecture and design, elevators, escalators, and transportation sectors. The company’s metal capabilities include stainless steel, brass, bronze, aluminum, and copper and its finishes range from super-mirror to satin to mill standard.
Polished Metals, led by CEO Jeff Watson, was founded in 1979 by Malcolm Lazarus and is headquartered in a 50,000 square feet facility in Hillside, New Jersey.
Sky Island acquired Polished Metals in partnership with the founding Lazarus family in February 2020.
Like Polished Metals, Pride Metal Polishing is a provider of metal polishing services to metal distributors, metal fabricators, architects, and designers. The company’s product capabilities include brass, aluminum and stainless steel in all sizes and lengths including tubing, pipe, bars, and plate. Pride Metal, led by President Rod Lowell, was founded in 1961 and is headquartered near Los Angeles in El Monte, California.
“Pride Metal Polishing’s strategically located facility in the Los Angeles area will allow us to build out our presence on the West Coast,” said Mr. Watson. “We look forward to bringing the Pride Metal team on board and improving both businesses through the collaboration of Rod Lowell and our highly experienced team.”
“This transaction will enable Polished Metals to grow its customer base and expand its presence from coast to coast,” said Jack Waterstreet, the managing partner of Sky Island. “We intend to continue growing Polished Metals as the leading metal polisher in North America through organic initiatives and add‐on acquisitions.”
Sky Island makes control investments of $10 million to $50 million in North American-headquartered manufacturing companies with revenues from $10 million to $200 million and EBITDA from $5 million to $15 million. The firm’s transactions include family-owned businesses, corporate carve-outs, management buyouts, public to privates, lender-owned or controlled, and other special situations. Sky Island is headquartered in Dallas.
© 2021 Private Equity Professional | June 4, 2021