GHX To Buy Delta Rubber Co.

GHX Industrial, which is backed by The CapStreet Group, has acquired Delta Rubber Co. Financial terms were not announced. Houston-based GHX is a fabricator and supplier of industrial fluid transfer and sealing products. Delta, of Stockton, Calif., is an industrial distribution company. CapStreet is a Houston-based private equity firm.

PRESS RELEASE

Houston-based GHX Industrial, LLC (ghxinc.com), today announced it has completed the acquisition of Delta Rubber Company, an industrial distribution company with a strong customer base in California and Nevada.

Headquartered in Houston, GHX is a leading fabricator and supplier of industrial fluid transfer and sealing products with locations throughout the Gulf Coast area and Pennsylvania, and with this acquisition, a new presence in the West. With fabrication capabilities at each of its locations, GHX provides quick responses for customers’ critical service and repair needs.

GHX’s Chief Executive Officer Dan Ahuero said, “Delta is an ideal complement to the GHX portfolio and provides a significant expansion of our geographical footprint. The company has a history of delivery outstanding customer service to a loyal customer base, and we are proud to join forces in expanding the GHX business model coast to coast,” he added.

Delta Rubber Company is based in Stockton, Calif. and has service locations in Sacramento, Modesto, Fresno and Salinas, Calif., as well as in Sparks and Elko, Nevada.

“This acquisition continues to fulfill our strategic plan to acquire excellent, well-placed companies to better serve our large existing customers and develop relationships with new markets in a variety of diverse industries, such as mining and agriculture,” he added.

GHX is a portfolio company of The CapStreet Group, LLC (capstreet.com). The company has a more than 70-year history of providing sealing (gaskets), fluid transfer (hoses) and other products to a variety of industries, particularly the power generation, process, marine and the upstream oil and gas enterprises along the U.S. Gulf Coast. CapStreet is a Houston-based private equity firm that invests in growing middle market companies in Texas and other Sunbelt states and partners with management to accelerate growth and improve profitability. Since CapStreet’s investment in GHX in 2007, the company has grown significantly, both through strategic add-on acquisitions and by building new facilities, including the opening of two new sites in 2010 in Geismar, La., and Uniontown, Pa.