IGP buys Massachusetts manufacturer Double E

• Double E’s products include shafts, chucks, core plugs, roll handlers, roll and cart movers, and specialized rollers
• IGP made the investment out of its sixth fund
• Founded in 1997, IGP backs middle-market companies in the industrial sector

Industrial Growth Partners has acquired West Bridgewater, Massachusetts-based Double E, a maker of web converting and web handling components and equipment. Double E’s products include shafts, chucks, core plugs, roll handlers, roll and cart movers, and specialized rollers. No financial terms were disclosed.

On the deal, Tom Pranka, CEO of Double E, said in a public statement: “IGP’s familiarity and experience within the web converting industry through current and prior investments make them the ideal partner for Double E. The entire Double E team is excited to partner with IGP for strategic and operational support as we continue to grow and strengthen our business organically and through acquisitions.”

In partnership with management and certain outside investors, IGP acquired Double E, marking the first platform investment for IGP’s sixth fund.

Founded in 1997, IGP is a San Francisco-based private investment firm that targets middle-market companies in the industrial sector.