CHICAGO, IL ––May 30, 2014; City Capital Advisors, a results-oriented investment banking firm serving the middle market, announced today that Sanders Industries, Inc., has recently been acquired by San Francisco-based Industrial Growth Partners.  The transaction was led by the Aerospace and Defense Team of City Capital , Managing Directors Hector J. Cuellar and Jason Pulley. Financial terms were not disclosed.

Transaction Summary

Industrial Growth Partners (“IGP”), in partnership with management and certain outside investors, has acquired Sanders Industries, Inc. (“Sanders”), a leading manufacturer of highly-engineered elastomeric tools used in large, composite manufacturing, in addition to elastomeric components for aerospace and defense OEM and MRO applications.

Headquartered in Long Beach, California, Sanders’ products include elastomeric tooling, seals, gaskets, ablatives, EMI/RFI/thermal shielding products, encapsulated o-rings, and composite APU plenums and ducts.  In addition to its primary facility in Long Beach, the Company manufactures globally from production facilities in Sheffield, United Kingdom, San Diego, California, and Westchester, Pennsylvania. Sanders, through its four divisions (Rubbercraft, Northern Engineering, Sanders Composites, and Fabritech), is a leader in designing and engineering custom products, utilizing advanced materials, to exceptionally tight tolerances for high-performance applications.

“IGP’s familiarity with the aerospace and defense markets through its prior investments and the firm’s deep experience in the manufacturing sector made IGP an ideal equity partner for us,” commented Larry O’Toole, CEO of Sanders.  “The Sanders management team is excited about the opportunity to leverage IGP’s experience to strengthen our position in our core markets and pursue the numerous opportunities in our pipeline.  We look forward to capitalizing on the resources this new relationship provides.”

This transaction creates a platform for Sanders to accelerate growth in its core commercial aerospace and defense markets and pursue selective acquisition opportunities.  The acquisition is an ideal fit with IGP’s strategy of investing in niche engineered products companies with leading market shares and outstanding management teams.

This deal represents Industrial Growth Partners’ fifth platform investment from its Fund IV. 

About Sanders Industries

Founded in 1985 and based in Long Beach, California, Sanders Industries Holdings, inc., through its subsidiaries, is a leading manufacturer of highly-engineered elastomeric tools used in large, composite structure manufacturing, in addition to elastomeric components for aerospace and defense OEM and MRO applications. 

About Industrial Growth Partners

Founded in 1997, Industrial Growth Partners, is a San Francisco-based private equity firm with $1.4 billion of equity capital raised since inception.  The company specializes in buyouts and invests exclusively in middle-market companies in the industrial sector in partnership with management teams.

About City Capital Advisors, LLC

City Capital Advisors, a FINRA registered broker-dealer, is a results oriented investment and merchant banking advisory firm.  Client engagements are managed exclusively by experienced senior investment bankers who deliver business owners optimal performance in capitalizing on the value of their companies and meeting their objectives as shareholders.  City Capital’s investment banking professionals have successfully advised clients on merger and capital markets transactions totaling in excess of $60 billion.

 


 

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