Pfingsten Partners has acquired ZSi and Foster Manufacturing Co. (collectively ZSi-Foster), a manufacturer and supplier of clamping and coupling products. Pfingsten acquired the company on May 23, 2014, marking the fifteenth platform investment for Pfingsten’s $525 million Fund IV.
“The ZSi-Foster team has built an outstanding business with leading brand names and the highest quality clamping and coupling products in the industry,” said Scott Finegan, Managing Director, Pfingsten. “The company is well positioned to capitalize on the demands of the diverse end markets and customers they serve.”
ZSi-Foster is a supplier to the general industrial, fluid power, HVAC, refrigeration and electrical end markets. The company sells a product portfolio with over 11,500 SKUs to a diverse customer base of distributors and OEMs. The company is headquartered near Detroit in Canton, MI, with a second manufacturing facility in Springfield, MO (www.zsi-inc.com and www.couplers.com).
“Our experienced team, Pfingsten’s operational expertise, and a conservative balance sheet will allow ZSi-Foster to take full advantage of its market opportunities,” said ZSi-Foster CEO, Kris Weger. “We are excited about the next step in our journey and have the right partner to help us accelerate ZSi-Foster’s growth.”
Pfingsten Partners invests in middle market manufacturing, distribution and business services companies. Since completing its first investment in 1991, Pfingsten Partners has acquired 94 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).
2014 PEPD • Private Equity’s Leading News Magazine • 5-29-14