- The Brandenburg family will retain a minority stake in P&I in the company
- The deal, which was done in partnership with management and certain outside investors, marks the second platform investment for IGP’s sixth fund
- IGP invests in middle-market industrial companies.
Industrial Growth Partners has acquired Cleveland-based The Prince & Izant Company, a provider of brazing alloys and precision engineered materials.
The seller was The Brandenburg family. They will retain a minority stake in P&I in the company. No financial terms were disclosed.
On the transaction, Matt Brandenburg, CEO of P&I, said in a statement: “IGP was the preferred partner for me and my family as we explored the possibility of a sale. IGP’s longstanding expertise in helping transform middle-market family-run businesses stood out to us as a true differentiator. We are confident that with IGP’s assistance, we will continue to grow Prince & Izant into a global leader of specialty engineered materials.”
The deal, which was done in partnership with management and certain outside investors, marked the second platform investment for IGP’s sixth fund.
Founded in 1997, Industrial Growth Partners invests in middle-market companies in the industrial sector. It is based in San Francisco.