Guardian Capital Partners has acquired Precision Roll Solutions, a provider of highly-engineered precision roll solutions. No financial terms were disclosed. PRS was backed by May River Capital.
Chicago, Illinois, June 1, 2022 – May River Capital today announced that its portfolio company Precision Roll Solutions (“PRS”) has been acquired by Guardian Capital Partners.
May River Capital acquired the first company of what ultimately became PRS in 2016. Since that time, May River Capital and PRS management have driven meaningful growth within the business through a combination of both organic growth initiatives as well as strategic M&A. Over the past six years, May River Capital and PRS management have made continued growth-related investments in the business, including three additional acquisitions, the creation of an umbrella brand, the recruitment of best-in-class leadership talent, the integration of all key business functions, and continued product line extensions, facility expansion and optimization. As a result of such investment, today PRS is an industry-leading solutions provider that is well positioned for accelerated growth going forward.
May River Capital first partnered with Paul Schulz, PRS Executive Chairman, at the time of the initial 2016 acquisition to execute on a buy-and-build thesis within the highly fragmented precision roll and web converting sector. In his role as Executive Chairman, Schulz brought to the business significant industry leadership experience and a track record of building other successful businesses within the sector. Schulz stated, “We are proud of the PRS team and what we have been able to accomplish to date in partnership with May River. We are only just getting started and are as excited as ever about what lies ahead for PRS, its customers, and its people.”
May River Capital was also successful in recruiting Matt Pursel, PRS Chief Executive Officer, and Jim Berceau, PRS Senior Vice President, to lead platform operations and drive business strategy. “Matt, Jim, and Paul have been force multipliers for PRS and terrific partners to May River. Each brings decades of relevant industry experience to the platform and have been invaluable in helping to achieve our growth objectives”, commented Chip Grace, Partner at May River Capital.
All members of PRS leadership, including Schulz, Pursel, and Berceau, are to remain in their roles under Guardian’s ownership going forward. Pursel stated, “It has been a pleasure working with May River Capital over the years to build an industry-leading platform in the sector.” Pursel went on to comment, “Looking ahead, we are very excited to be partnering with Guardian going forward. Guardian’s investment approach and team culture are a clear fit with PRS. We are looking forward to leveraging their extensive knowledge and experience to help execute upon our strategic growth initiatives and create further value for our customers.”
Cowen and Company LLC served as financial advisor and Paul Hastings LLP served as legal advisor to May River Capital and PRS.
About May River Capital
May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market, industrial growth companies. May River Capital invests in high-quality industrial growth businesses, including precision manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution businesses. For more information, please visit mayrivercapital.com.