industrial clamps

IGP Adds-On to Ideal-Tridon

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Ideal-Tridon, a portfolio company of Industrial Growth Partners, has acquired the business and assets of Fast-Lok from Deco Products.

Fast-Lok is a manufacturer of preformed and open-ended hose clamps, strapping, buckles, and related installation tools that are used in the electrical, municipal, energy and general industrial markets. The business is located in Decorah, IA (click HERE to go to the Fast-Lok website).

Ideal-Tridon is a designer and manufacturer of specialty clamps and couplings used in industrial, heavy duty, plumbing, irrigation, marine and automotive applications. The company is headquartered in Smyrna, TN and was acquired by Industrial Growth Partners, along with management, in October 2011 (www.idealtridon.com).

“The acquisition of Fast-Lok continues our push into the global preformed clamp, strapping, and band and buckle market which began with our acquisition of Strapbinder six months ago,” said Mike Reese, President and CEO of Ideal-Tridon. “The addition of Fast-Lok fills out our product portfolio in this segment and allows us to better serve our global customer base.”

Industrial Growth Partners invests in North American-based manufacturing and manufacturing services companies that have histories of profitability and revenues of up to $250 million. The firm was founded in 1997 and is based in San Francisco (www.igpequity.com).

Deco Products, the seller of Fast-Lok, is a zinc die-caster of industrial parts, hose clamps, and residential window and door hardware. The company is based in Decorah, IA (www.decoprod.com).

© 2017 Private Equity Professional | June 9, 2017

Pfingsten Adds to Clamp and Coupler Platform

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ZSi-Foster, a maker and supplier of clamping and coupling products and a portfolio company of Pfingsten Partners, has acquired Wesanco, a manufacturer of metal framing, fittings, pipe clamps, and accessories for mechanical, electrical, industrial and OEM applications.

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).

The buy of Wesanco is ZSi-Foster’s first add-on acquisition since Pfingsten acquired the company in May 2014. Pfingsten intends to build the platform into a national manufacturer and distributor of engineered clamp, coupling and support systems.

“Wesanco is excited to join forces with ZSi-Foster,” said Wesanco’s owner Andy Shyer. “Our complementary product offerings will help accelerate the growth of both companies and allow us to better serve our customers with a more comprehensive product basket.”

Pfingsten Partners invests in middle market manufacturing, distribution and business services companies.  Since founding in 1989, Pfingsten has acquired 106 manufacturing, distribution and business services companies through four funds with total commitments of approximately $1 billion. The firm is based in Chicago with additional offices in India and China (www.pfingsten.com).

Wesanco is headquartered near Los Angeles in La Mirada, CA (www.wesanco.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 11-5-15