Industrial Growth Partners is poised to buy O’Brien Corp., a St. Louis, Mo.-based maker and marketer of heavy duty tubes and other heat exchange equipment used in the energy industry, according to a government filing.
If the deal proceeds, the San Francisco-based mid-market shop will make the investment out of Industrial Growth Partners III LP, a $400 million fund it closed in December 2006.
O’Brien seems a natural fit for Industrial Growth, which targets manufacturing companies with a focus on industrial components and equipment. Another Industrial Growth portfolio company, Buffalo, N.Y.-based API Heat Transfer Inc., provides similar products for a variety of industries, including chemical processing, dairy, food and beverage, power generation, and pharmaceuticals, among others. The firm’s targets usually have annual revenue between $30 million and $100 million.
The rest of this article appears here, on the Web site of Buyouts magazine, where it originally appeared.