FEMCO Machine Company, a machine repair and manufacturing company and a portfolio company of Saugatuck Capital, has acquired MAN-TEX Manufacturing & Welding. Saugatuck first invested in FEMCO in June 2007.
MAN-TEX is a provider of welding, machining, fabrication and field services to companies operating in the oil & gas, commercial, agriculture, and industrial manufacturing industries. The company serves customers located throughout the Rocky Mountain region and is headquartered in Rifle, CO (www.mantexmfg.com).
FEMCO is a provider of repair services and a producer of aftermarket and OEM replacement parts for customers that operate heavy equipment and vehicles. The company’s capabilities allow it to manufacture and repair extraordinarily large components and machines used primarily in the crane and dragline industry, recycling facilities, aggregate and concrete companies, metal stamping shops, sugar cane harvesters, the mining industry and other heavy industrial markets. FEMCO operates a fleet of 19 mobile machine shops which are staffed by technicians and contain specialized cranes and machining equipment. The company has manufacturing and field service facilities in Olivehurst, CA; Atlanta, GA; Punxsutawney, PA; Odessa, TX; and Gladewater, TX. FEMCO, led by CEO Dan Rondeau, was founded in 1964 and is headquartered in Pittsburgh (www.femcomachine.com).
“We are delighted to invest in MAN-TEX,” said Mr. Rondeau. “MAN-TEX’s leading position in the Rocky Mountain area, combined with its strong management team, will enable FEMCO to continue growing both organically and through strategic acquisitions. FEMCO has a significant track record of investing to grow our business. We look forward to working with such a great team and to further our pledge to provide outstanding customer service anytime, anywhere.”
Saugatuck invests in leveraged recapitalizations, buyouts, and growth equity investments in the lower middle-market. The firm seeks companies with revenues of $15 million to $100 million and invests in a wide range of niche industries. Saugatuck was founded in 1982 and is based in Wilton, CT (www.saugatuckcapital.com).
© 2018 Private Equity Professional | February 15, 2018