Spring Rock Capital has acquired New England Miniature Ball (NEMB), a maker of miniature precision steel balls.
NEMB’s products are used in bearings, medical equipment, ball screws, valves, and testing equipment and are sold in North America, Asia and Europe. Most of its products are made from chrome and stainless steel, but the company can also manufacture balls in other materials including tungsten carbide, titanium, gold, copper, and brass.
Ball diameters are typically less than .75 inches and can be as small as 0.01 inches. NEMB maintains a large inventory of standard and non-standard diameters in many materials and can produce non-standard sized balls for customers as needed.
NEMB was founded in 1963 and manufacturers out of three facilities: one in Norfolk, CT (headquarters) and two in Shanghai, China.
Chicago-based Spring Rock invests from $5 million to $50 million in recurring revenue companies that have EBITDA of $3 million to $20 million. Typical transaction sizes range from $25 million to $250 million. Sectors of interest include security, software, and technology-enabled business services; and niche manufacturing and service businesses. Spring Rock was founded in 2009 and is led by founder and general partner, John Cannon, along with operating partner, Roger Savage.
Woodbridge International, a mergers and acquisitions firm specializing in selling companies with revenues from $5 million to $250 million, was the financial advisor to New England Miniature Ball on this transaction.
© 2019 Private Equity Professional | October 22, 2019
