Blue Point Capital Partners has sold its portfolio company Smith-Cooper International to Tailwind Capital. Blue Point acquired Smith-Cooper in October 2012 through its second fund, Blue Point Capital Partners II LP, which closed in 2006.
Smith-Cooper is a designer, producer, importer and distributor of pipe, valves and fittings to the commercial and industrial, energy, chemical and petrochemical refining, and fire protection markets. Smith-Cooper offers over 15,000 SKUs and serves more than 2,000 customers globally. Company-owned brands include SCI, Sharpe and FPPI.
Smith-Cooper was formed in 1993 and is headquartered near Los Angeles in Commerce, CA (www.smithcooper.com).
“Smith-Cooper provided a great opportunity for Blue Point to support management with a number of operating improvements, including Asian supply chain management, pricing optimization and analytical tools to enable data-driven decision making,” said Juli Marley, a Partner with Blue Point. “The leadership team focused on several key initiatives which improved profitability and operational efficiency, allowing us to continue to invest in the business and the team to build a true platform ready to support additional growth.”
Blue Point Capital Partners is a lower middle market private equity firm that invests in manufacturing, distribution and service businesses that have from $20 million to $200 million in revenue and EBITDA greater than $5 million. The firm has over $825 million in committed capital and has offices in Cleveland, Charlotte, Seattle, and Shanghai (www.bluepointcapital.com).
“Blue Point took a thoughtful approach to our partnership, providing resources and strategic support to enable us to execute our growth strategy,” said Jason Hild, CEO of Smith-Cooper. “We sincerely appreciated Blue Point’s collaboration and multiple dimensional support for our investments in the management team, operational infrastructure and both organic and acquisition-based growth initiatives. Having further strengthened the company’s foundation, we are excited to continue executing our growth strategy in partnership with Tailwind.”
Tailwind invests from $25 million to $100 million of equity in middle market companies that have enterprise values of up to $300 million and EBITDA from $10 million to $30 million. Sectors of interest include healthcare, business services and industrial services. Since its founding in 2003, Tailwind and its portfolio companies have completed over 85 acquisitions. The firm currently manages over $3 billion of committed equity capital and is based in New York (www.tailwind.com).
© 2017 Private Equity Professional | November 28, 2017