Industrial Growth Partners acquires Sanders Industries

Industrial Growth Partners has acquired Sanders Industries, a manufacturer of tools used in large, composite structure manufacturing. IGP made the acquisition along with management and outside investors. The deal is IGP’s fifth platform investment from its Fund IV. Financial details of the deal were not disclosed.

Press Release

Industrial Growth Partners, in partnership with management and certain outside investors, has acquired Sanders Industries (“Sanders” or the “Company”).

Headquartered in Long Beach, California, Sanders is a leading manufacturer of highly-engineered elastomeric tools used in large, composite structure manufacturing, in addition to elastomeric components for aerospace and defense OEM and MRO applications. Sanders’ products include elastomeric tooling, seals, gaskets, ablatives, EMI/RFI/thermal shielding products, encapsulated o-rings, and composite APU plenums and ducts. In addition to its primary facility in Long Beach, the Company manufactures globally from production facilities in Sheffield, United Kingdom, San Diego, California, and Westchester, Pennsylvania. Sanders, through its four divisions (Rubbercraft, Northern Engineering, Sanders Composites, and Fabritech), is a leader in designing and engineering custom products, utilizing advanced materials, to exceptionally tight tolerances for high-performance applications.

“IGP’s familiarity with the aerospace and defense markets through its prior investments and the firm’s deep experience in the manufacturing sector made IGP an ideal equity partner for us,” commented Larry O’Toole, CEO of Sanders. “The Sanders management team is excited about the opportunity to leverage IGP’s experience to strengthen our position in our core markets and pursue the numerous opportunities in our pipeline. We look forward to capitalizing on the resources this new relationship provides.”

Acquisition Details. On May 30, 2014, Industrial Growth Partners IV, L.P., in partnership with management and certain outside investors, acquired 100% of the Company, marking the fifth platform investment for IGP’s Fund IV. The transaction creates a platform for Sanders to accelerate growth in its core commercial aerospace and defense markets and pursue selective acquisition opportunities. The acquisition is an ideal fit with IGP’s strategy of investing in niche engineered products companies with leading market shares and outstanding management teams.

IGP, founded in 1997, is a San Francisco-based private equity investment firm with $1.4 billion of equity capital raised since inception. The firm invests exclusively in middle-market companies in the industrial sector in partnership with management teams.