CR3 Capital has acquired Colorado Springs-based Xymat Engineering, a maker of specialty containers and material handling solutions for specific operational sites of the U.S. Department of Energy. No financial terms were disclosed.
DALLAS, Feb. 27, 2018 /PRNewswire/ — CR3 Capital, a Dallas-based private equity firm focused on North American middle market companies, is pleased to announce it has acquired Xymat Engineering (“Xymat”). Based in Colorado Springs, Colorado and founded in 1974, Xymat is a leading manufacturer of specialty containers and material handling solutions for specific operational sites of the U.S. Department of Energy. The Company utilizes its extensive advanced welding and machining capabilities to provide high quality products to its longstanding customer base.
CR3 Capital also announced that Douglas Waldron has been appointed president and CEO of Xymat Engineering. Waldron previously served as CEO of Advanced Joining Technologies, Inc, an advanced manufacturing company. His career spans more than 34 years in manufacturing with the past 15 years in senior executive roles across a range of industries, and he is well-known for his expertise and track record in manufacturing operations and market expansion.
“We are excited to partner with Doug and Xymat in providing the strategic and operational support necessary to execute on Xymat’s growth potential,” remarked Paul Ravaris, Partner at CR3 Capital.
“It is an honor to take the reins and join the truly talented team of professionals at Xymat. The Company has experienced impressive growth and profitability in recent years, and their systems, processes, facilities and craftsmanship are truly exceptional,” said Douglas Waldron. “I very much look forward to working with the employees at Xymat and the talented team at CR3 Capital to leverage these assets and capabilities to expand our market presence.”
Michael Nguyen, Partner at CR3 Capital noted, “The Xymat acquisition represents CR3 Capital’s second transaction in the last six months. We are excited to add Xymat to our portfolio and continue the success of the CR brand which has been successfully investing for over 15 years.”
About CR3 Capital
CR3 Capital is an operationally-focused private equity firm that makes control equity investments in North American middle market companies. We focus on identifying and investing in businesses that are experiencing unique operational or financial challenges. Through a hands-on partnership, we utilize our core operational strengths to implement performance improvements and strategies to maximize value. For more information, visit www.cr3capital.com.