Key Bridge Partners has acquired U.S. Para Plate Car Wash from a unit of CIRCOR International (NYSE: CIR). No financial terms were disclosed. U.S. Para Plate makes components used in commercial car wash systems.
Key Bridge Partners, a Washington, DC-based private investment firm, today announced the acquisition of U.S. Para Plate Car Wash Product Line from CIRCOR Aerospace, Inc. based in Corona, California. The acquisition of U.S. Para Plate allows Key Bridge Partners to add another business focused on the vehicle wash industry to its family of companies. CIRCOR Aerospace, Inc. will retain the aerospace portion of the U.S.
Para Plate product line.
Founded in 1972, U.S. Para Plate offers a broad range of highly engineered components used in commercial car wash systems. Virtually all car washes in the United States – and many around the world – utilize at least one U.S. Para Plate product. Known for high reliability in critical applications, U.S. Para Plate’s products include standard and custom engineered high pressure valves and regulators, system timers, and spray gear.
“We are proud to be the new owners of U.S Para Plate, which has a tremendous reputation for quality and durability. U.S Para Plate products are ubiquitous in the car wash industry,” said Bob Maruszewski, a partner at Key Bridge Partners.
Key Bridge Partners is also the owner of Magic Wand, LLC, a leading manufacturer of self service and automatic car and truck wash systems. Maruszewski stated, “U.S. Para Plate and Magic Wand will operate as two separate companies, co-located at Magic Wand’s Bristol, VA headquarters. This allows us to have all of our car wash industry knowledge, resources, and talent in one place, which has numerous benefits.”
The transaction was completed on December 17, 2009. No terms were disclosed.
About Key Bridge Partners, LLC
Key Bridge Partners is a private investment firm consisting of former Fortune 500 executives focused on acquiring and developing manufacturing and service companies with revenues between $5M and $150M. Key Bridge Partners seeks to buy and hold businesses for the longterm and provide an ongoing value-add by applying their operating experience to their investments. Key Bridge Partners is committed to preserving the legacy of great brands and building globally-competitive businesses.
More information about Key Bridge Partners is available at www.keybridgepartners.com.
About CIRCOR Aerospace Products Group
CIRCOR Aerospace Products Group/CIRCOR Aerospace, Inc. is focused on the design, development, and manufacture of specialty fluidic control, actuation, and aircraft landing gear systems for demanding aerospace and defense applications. CIRCOR Aerospace provides a full range of check, relief and electro-mechanically actuated valves, actuation systems, manifold assemblies, and complete landing gear systems. CIRCOR Aerospace has business units located in California, Ohio, New York, Paris and Chemille, France, Tangier, Morocco and Suzhou, China.
CIRCOR International (NYSE:CIR) is headquartered in Burlington, Massachusetts and the CIRCOR Aerospace Products group is headquartered in Corona, California. More information about CIRCOR Aerospace is available at www.circoraerospace.com.