Ideal-Tridon, a portfolio company of Snow Phipps, has acquired Clamp SRL and Campbell Fittings. Snow Phipps acquired Ideal-Tridon from Industrial Growth Partners in July 2017.
Clamp SRL is a manufacturer and distributor of clamps for the industrial aftermarket in Europe. The company is headquartered in Milan, Italy (www.clamp.it/en). The prior majority owner and leader of Clamp, Matteo Giuffrida, will continue to lead the sales efforts of the business under Ideal-Tridon ownership.
Campbell Fittings manufactures fittings and couplings that are used in the industrial hose and water well industries. The company has five warehouses in California, Texas, Illinois, Georgia and Pennsylvania and is headquartered in Boyertown, PA (www.campbellfittings.com).
Campbell Fittings was founded by Louis Campbell in the early 1900’s and was sold to Frederick Paff after World War II. Campbell Fittings’ prior owners and existing management team, President Tom Paff and Chief Financial Officer Joe McGlynn, will continue to lead the business under Ideal-Tridon ownership.
“The Clamp and Campbell Fittings transactions demonstrate Ideal-Tridon’s ability and willingness to acquire high-quality businesses that operate in complementary geographies or product segments,” said John Pless, Partner at Snow Phipps.
Ideal-Tridon is a designer and manufacturer of stainless steel and specialty clamps that are used in a range of fastening and sealing applications across many end markets. The company’s products include stainless steel clamps, worm drive hose clamps, high-torque clamps, constant tension clamps, T-Bolts, V-Inserts, no-hub couplings and a host of specialty and custom clamping products. Ideal-Tridon sells its products to original equipment manufacturers and to distributors and retail businesses in the replacement market. The company is headquartered in Smyrna, TN with additional US facilities in Brownsville, TX and Fullerton, CA; and international facilities in Mexico, China, Japan, Poland, and India (www.idealtridon.com).
“We are extremely excited to partner with two outstanding management teams to expand the Ideal-Tridon platform and continue our growth trajectory,” said Michael Reese, CEO of Ideal-Tridon. “Both Clamp and Campbell Fittings have long track records of providing highly engineered products to their customers, and we look forward to leveraging our existing capabilities and product offerings to support their continued success in the marketplace.”
Snow Phipps makes control investments in companies primarily located in North America with enterprise values ranging from $100 million to $500 million that require equity investments ranging from $50 million to $150 million. Sectors of interest include industrials, services, and consumer. The firm was co-founded by Ian Snow and Ogden Phipps in April 2005. Snow Phipps is headquartered in New York (www.snowphipps.com).
© 2018 Private Equity Professional | June 27, 2018
