Industrial Opportunity Partners, the Illinois-based PE firm, sold portfolio company Center Manufacturing to Mayville Engineering Company. It is the fourth exit from IPO’s initial $185 million fund. Center is based in Byron Center, Michigan. Specifics were not publicized.
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Operations-focused private equity firm Industrial Opportunity Partners of Evanston, Ill. has completed the sale of portfolio company Gulf Coast Machine & Supply Company to Altus Capital Partners. The exit represents IOP’s third investment realization from its initial $185 million committed fund.
Industrial Opportunity Partners (IOP) has sold portfolio company Algoma Hardwoods, a manufacturer of architectural wood doors to commercial and institutional construction markets, to Masonite International Corporation, a global manufacturer of residential and commercial doors. IOP acquired the company with American Capital Strategies in April 2006 and subsequently acquired American Capital Strategies’ remaining equity position in [...]
Industrial Opportunity Partners is planning to wrap up fundraising on its second fund in the coming weeks, Buyouts reported earlier today, citing a source familiar with the firm’s fundraising process. The Evanston, Ill.-based buyout shop expects to hit its hard cap of $275 million, the source said. The firm’s target for the fund, Industrial Opportunity [...]
Industrial Opportunity Partners has exited its investment in FAS Controls Inc., selling the company to Netherlands-based Kendrion NV. Terms of the deal were not released. FAS Controls is a maker of electromechanical devices, pneumatic control valves and lighting products used in commercial vehicles, diesel engines, powersport vehicles, and construction & agricultural equipment. IOP acquired the Company from Honeywell International in February 2007.
Operations- focused private equity firm based in Evanston, Ill, Industrial Opportunity Partners, has acquired Toledo Molding & Die (TMD) in a management buyout. Headquartered in Toledo, Ohio, TMD is an automotive supplier that designs, develops and manufactures highly engineered molded thermoplastic components and assemblies such as interior cockpit modules and air and fluid management products. [...]
Industrial Opportunity Partners, an operations- focused private equity firm based in Evanston, Ill., has acquired two related businesses, Van Products and Unipro by its platform company Center Manufacturing. Senior debt was provided by Capital One Leverage Finance Corp and junior debt was provided by Patriot Capital. Terms of the transaction were not disclosed. Van and [...]
Industrial Opportunity Partners has acquired Trantech Radiator Products, a manufacturer and supplier of radiators to the North American electric power transmission and distribution industry. Trantech represents IOP’s 10th platform investment in its current $185 million committed fund and its third platform investment in 2011. PRESS RELEASE Industrial Opportunity Partners (“IOP”), a private equity firm based [...]
Industrial Opportunity Partners, an operations-focused private equity firm based in Evanston, Ill., has acquired the Light Duty Filtration assets of Cummins, a leader in the design, manufacture, distribution, and service of engines and related technologies. IOP has renamed the business Kuss Filtration. Terms of the transaction were not disclosed. PRESS RELEASE Industrial Opportunity Partners (“IOP”), [...]
Diesel engine maker Cummins Inc. said it agreed to sell a part of its light duty filtration operations to Industrial Opportunity Partners, Reuters reported Friday. Terms of the deal were not released. The sale is part of Cummins’ plans to streamline its business segments.