Ibis Tek, a portfolio company of Rockwood Equity Partners since February 2017, has acquired Standard Bent Glass, a supplier of custom fabricated glass products, including transparent armor.
Standard Bent Glass (SBG) is a manufacturer and distributor of flat and curved laminated glass, curved tempered glass, compound curved glass, decorative laminated glass, and bullet resistant glazing. The company also offers laminated glass and glass-clad polycarbonates for use as transparent armor across numerous military vehicle platforms.
SBG was founded in 1936 and is headquartered north of Pittsburgh in East Butler, PA (www.standardbent.com).
Ibis Tek is a manufacturer of ballistic glass, advanced lighting and accessories, specialty vehicles and products serving the defense, law enforcement, government agency and municipal sectors. The company is headquartered north of Pittsburgh in Butler, PA (www.ibistek.com).
According to Rockwood Equity, the combination of SBG and Ibis Tek creates the largest supplier of transparent armor to the US Department of Defense. The combined company will be renamed in the coming months.
Mike Hartley, who served as CEO of SBG, will continue to serve the combined company as a senior advisor. “Fifteen years ago, our two neighboring companies first worked together to offer transparent armor products in support of our military,” said Mr. Hartley. “It is exciting to see that relationship come full circle, now as a combined enterprise that will provide one-stop-shop capabilities with flat and curved transparent armor, metal fabrication, certified welding, paint and coating, electrical assembly and system integration for vehicle upfitting.”
“SBG is a perfect, ‘hand in glove’ strategic fit with Ibis Tek,” said Ibis Tek CEO Vince Nardy. “SBG’s capability to fabricate specialty glass, together with Ibis Tek’s expertise in commercial vehicles, now provide significant opportunities to take on new programs that leverage our combined expertise in providing armored solutions to the military, as well as complementary vehicle capabilities.”
Rockwood Equity Partners invests in niche manufacturing, value-added distribution, and industrial services companies with revenues of $10 million to $75 million and EBITDA of $2 million to $7 million that are located in the US or Canada. Rockwood was founded in 1999 and has offices in Cleveland, Denver and New York (www.rockwoodequity.com).
© 2019 Private Equity Professional | January 16, 2019
