Benford Capital Partners has acquired the assets of gas detector maker ENMET Corporation in partnership with the company’s management team.
ENMET is a manufacturer of gas detection equipment for the industrial, medical, and aerospace & defense markets. Products range from compressed air line monitors to portable detectors and continuous multi-channel fixed systems that are used in a variety of hazardous gas conditions. ENMET is also a custom engineer of gas and vapor detection systems used in pipelines, ducts, process lines, storage tank headspaces, engine test cells, environmental chambers, vehicle maintenance areas and similar applications. The company was founded in 1970 and is based near Detroit in Ann Arbor, MI (www.enmet.com).
Upon closing of the acquisition, Benford Capital appointed Norman Davis as the new President of ENMET. Mr. Davis was the former president of Microsensor Systems, a Bowling Green, KY-based developer of chemical sensing technology used to detect chemical warfare agents. Microsensor Systems was acquired by Mine Safety Appliances Co. (NYSE: MSA) in 2005.
Benford Capital is actively seeking add-on acquisitions of gas detection instrument and sensor manufacturers to expand or compliment the operations of ENMET.
Benford Capital Partners makes control investments in smaller, lower middle market companies that have revenues of at least $3 million and EBITDAs of at least $1 million. Sectors of interest include niche manufacturers, unique service companies, and specialty distributors. Benford Capital Partners was founded in 2004 by Edward Benford and is based in Chicago (www.benfordcapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-18-15
