Industrial Growth Partners has acquired Ideal Clamp Products in a management buyout transaction. Headquartered in Smyrna, Tennessee, the company is a manufacturer of worm drive and specialty hose clamps and couplings used in a wide variety of end markets and applications.
Industrial Growth Partners, together with management and other investors, has acquired Ideal Clamp Products, Inc. (“Ideal-Tridon”).
Headquartered in Smyrna, Tennessee, Ideal-Tridon is a leading manufacturer of worm drive and specialty hose clamps and couplings used in a wide variety of end markets and applications. The Company serves a diverse customer base in the industrial, commercial vehicle, heavy equipment, automotive, marine and water management industries through its global manufacturing footprint in the United States, Mexico and China. Ideal-Tridon’s products are used in a broad range of critical joint sealing applications for securing hoses and pipes in applications such as industrial pump and filter connections, engine air intake and fuel filler assemblies, turbochargers, exhaust systems, and plumbing and drainage joints.
“IGP’s familiarity with Ideal-Tridon’s products and end markets through its prior investment in the clamp industry, as well as the firm’s extensive experience in the manufacturing sector make IGP an excellent equity partner for us,” commented Mike Reese, President of Ideal-Tridon. “The Ideal-Tridon management team is excited about the opportunity to draw upon IGP’s experience to help us to expand our product line in key end markets and strengthen our international market position. IGP will be an invaluable operational and strategic sounding board, and we look forward to capitalizing on the resources this new relationship provides.”
Acquisition Details. On October 27, 2011, Industrial Growth Partners IV, L.P., in partnership with management and certain outside investors, purchased a controlling interest in the Company. The transaction structure creates a solid platform for Ideal-Tridon to accelerate its growth in its specialty gear clamp product line, enhance its international presence and pursue selective acquisition opportunities.
IGP, founded in 1997, is a San Francisco-based private equity investment firm with over $1.3 billion in capital under management. The firm invests exclusively in middle-market companies in the manufacturing sector in partnership with management.