Sentinel Capital Partners, a New York-based private equity firm focused on middle market companies, has acquired a Chicago-based caster manufacturer called the Colson Group from the Pritzker family. Terms of the deal were not disclosed, but Colson — which operates 35 manufacturing and distribution facilities in 15 countries, where it produces wheels for heavy objects — will keep its existing management in place.
Sentinel Capital Partners, a private equity firm that invests in promising middle market companies, today announced that it has acquired the Colson Group, a private company owned by trusts for the benefit of members of the Pritzker Family of Chicago. Sentinel partnered in the transaction with Colson’s management, Matthew Pritzker, and CITIC Capital Partners. Terms of the deal were not disclosed.
Colson, acquired in 1953 by Jay and Bob Pritzker, is the worldwide leader in caster technology with 35 manufacturing and distribution facilities located in 15 countries. Colson has the most complete line of industrial casters, wheels, and hardware-related products globally. Colson’s products are used in industrial, commercial, and institutional applications, and it holds the premier position in its markets. Colson’s existing management team will continue under Sentinel’s ownership.
“Colson is a market leader in designing and manufacturing casters, and has a well developed, global footprint,” said Jim Coady, a partner at Sentinel. “Colson has an outstanding management team and is a strong business with significant growth potential. The continued investment of members of the Pritzker Family alongside us demonstrates confidence in Colson and Sentinel’s commitment to value creation.”
“Colson was such a big part of my father’s life,” said Matthew Pritzker, founder and chairman of the Matthew Pritzker Company and son of the late Bob Pritzker. “I’m thrilled to have the opportunity to stay involved in something he created and to be a part of continuing his legacy.”
“My management team and I are very pleased that Sentinel has invested in Colson,” said Scott Chahalis, Colson’s Chief Executive Officer. “Sentinel has a reputation for being a value added partner in the industrial manufacturing sector. This is an exciting opportunity for our company and employees as we combine our efforts with Sentinel’s team.”
Sentinel’s investment in Colson further expands its investment commitment to the industrial sector. Sentinel’s industrials portfolio includes Chromalox, a leading global manufacturer of commercial and industrial electric heating products and solutions; Chase Doors, the global leader in high-quality and made-to-order specialty door systems; Engineered Controls International, the leading global manufacturer of specialized pressure regulators, valves and other control equipment used in liquefied and compressed gasses; and LTI Boyd, a leading designer and manufacturer of mission-critical sealing and energy management solutions.
Key advisors on the transaction included William Blair & Company, which acted as financial advisor to Colson, and Kirkland & Ellis, LLP, which represented Sentinel.
About Sentinel Capital Partners
Sentinel Capital Partners specializes in buying and building middle market companies in the United States and Canada in partnership with management. Sentinel targets eight industry sectors — aerospace/defense, business services, consumer products/services, distribution, food/restaurants, franchising, healthcare products/services, and industrials. Sentinel invests in management buyouts, purchases of family businesses, corporate divestitures, and going-private transactions of established businesses. For more information about Sentinel, visit www.sentinelpartners.com.
About Colson Group
Headquartered in Chicago, Illinois, Colson Group is the market leader in the design, manufacture, and distribution of casters, wheels, and related hardware products. Colson maintains the premier position worldwide in these markets, with a significant North American and global market share. Colson’s products comprise a wide range of casters and wheels, including light duty, medium duty, heavy duty and super heavy duty used in industrial, commercial and institutional applications. Colson’s manufacturing and distribution infrastructure is the broadest in the industry, with 35 facilities located in 15 countries. Colson’s branded product portfolio is recognized as the highest quality in the market, which is critical for end users for whom the cost of failure is high. For more information about the Colson Group, visit www.colsongroup.com.
About Matthew Pritzker Company
Matthew Pritzker Company, LLC is the principal financial and investment office of Matthew Pritzker. The company makes direct equity and debt investments and oversees a portfolio that includes innovative, early and growth-stage companies in technology, retail and media, as well as real estate and other sectors. For more information, please visit www.matthewpritzkercompany.com.