Grey Mountain Partners has acquired a majority equity stake in Bolttech Mannings LLC, a New Versailles, Penn.-based provider of technical bolting and heat treating services for industrial applications. No financial terms were disclosed.
Grey Mountain Partners, LLC (“GMP”) has made a majority equity investment in Bolttech Mannings, LLC (“Bolttech Mannings”), a provider of technical bolting and heat treating services and products for industrial applications. The investment provides Bolttech Mannings with additional capital and resources to enable it to continue providing the highest quality service and innovative products to its customers, and to further expand its business through internal growth initiatives or additional acquisitions of complementary businesses.
“We are very excited about this unique and compelling investment,” said Grey Mountain’s Beth Lesniak. “We will work together with this outstanding management team to continue Bolttech Mannings’ reputation of excellent customer service and best-in-class technical expertise. We see a solid opportunity to expand Bolttech Mannings’ service offering and geographical reach.”
Ms. Lesniak added, “We are thrilled to be partnering with the company’s management team and employees and believe that Grey Mountain’s financial support and experience will be invaluable to the company as they take the business to the next level.”
About Bolttech Mannings
Headquartered in New Versailles, PA, Bolttech Mannings is a leading service provider in the joint integrity market and the pioneer of the induction bolt heating process. With a reputation for technical expertise and innovative technology, Bolttech Mannings is uniquely positioned as one of the only providers of turnkey bolting solutions – on-site service, rental tools and product sales with OEM manufacturing capabilities. Through its 19 field offices located throughout the U.S., the company provides maintenance and emergency services to over 400 customers primarily in the power generation, refinery, and petrochemical markets.
About Grey Mountain Partners
Grey Mountain Partners is a Boulder, CO, based private equity firm that focuses on building value in partnership with management through sustainable operational improvement. GMP invests in smaller middle market companies across a wide range of industries and in transactions with enterprise values between $30 million and $150 million. For more information, please visit www.greymountain.com.