Pfingsten Partners has acquired Des-Case Corporation, a provider of contamination control products and services for to the industrial lubricants industry. The senior management team of Des-Case has retained a significant ownership stake in the company.
Des-Case manufactures and provides desiccant breathers (devices that strip the surrounding air of contaminants—both moisture and dirt—to keep lubricants running clean and dry), fluid handling products such as lubricant storage and filtration systems, and consulting/training services. The company primarily sells through distributors and to OEMs (including private-label programs) but also sells product direct to the end user. Des-Case was founded in 1983 and is headquartered near Nashville in Goodlettsville, TN (www.descase.com).
“Des-Case is an industry thought leader and has a unique value proposition that delivers customized products and services to a wide range of industries that are just beginning to understand the benefits of lubricant contamination control,” said Scott Finegan, Managing Director at Pfingsten. “The Des-Case management team has built an outstanding business with an excellent brand name, and we are excited to partner with them to assist with further growth in the rapidly expanding equipment reliability market.”
“The new partnership will allow us to embark on our next stage of growth,” said Des-Case President & CEO, Brian Gleason. “Pfingsten’s conservative capital structure and operating capability will provide Des-Case additional resources to further expand our geographic reach both domestically and internationally, customizing our solutions to key end-markets and continuing investment in new product development.”
Pfingsten Partners invests in middle market manufacturing, distribution and business services companies. Since completing its first investment in 1991, Pfingsten Partners has acquired 92 manufacturing, distribution, and business service companies and has over $1 billion of capital under management. The firm is based in Chicago and has additional offices in India and China (www.pfingsten.com).
The acquisition of Des-Case was completed on October 31, 2013 and represents the 14th platform investment for Pfingsten’s $525 million fourth fund.
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-7-13