MPE Partners has acquired Garmat USA, a designer and manufacturer of paint booths, finishing systems, and accessories that are used in the automotive collision repair and industrial sectors.
Garmat USA sells its products to national, multi-site operators as well as independent repair shops through a nationwide network of independent distributors that are also responsible for installation and service. Garmat USA, led by CEO Johan Huwaert, was founded in 1988 and is based in Englewood, CO (www.garmat.com).
“MPE’s operating executive resources and their long track record of partnering with entrepreneur-led businesses make them a great partner for Garmat USA,” said Mr. Huwaert. “It is an exciting time in the collision repair industry, and we thought it was the right time to bring in a partner with the resources and experience to help us enhance our position as the innovation leader in our industry.”
“We are excited to partner with Johan and his team to help them achieve their next phase of growth,” said Graham Schena, a partner at MPE.
MPE invests in lower middle market companies that are valued from $25 million to $150 million and have EBITDAs between $5 million and $20 million. Sectors of interest include high-value manufacturing and commercial & industrial services. The firm has offices in Cleveland and Boston (www.mpepartners.com).
© 2019 Private Equity Professional | June 27, 2019
