Sky Island Capital has acquired Canton, Michigan-based Material Sciences Corporation, a provider of advanced materials and specialty coated metals. No financial terms were disclosed.
CANTON, Mich., May 13, 2019 /PRNewswire/ — Material Sciences Corporation (“MSC”) announced today that Sky Island Capital (“Sky Island”), a Dallas-based middle market private equity firm, has purchased majority control of the company.
Headquartered in Canton, Michigan, MSC produces advanced materials and specialty coated metals that are engineered to address light-weighting, noise, vibration, and harshness (“NVH”), corrosion, architectural, and aesthetic needs for a wide variety of end markets, including transportation, building products, packaging, and consumer goods.
Pat Murley, Chief Executive Officer of MSC, stated, “Bringing in the Sky Island team will allow us to be more aggressive with add-on acquisitions and continue to grow the company. We have worked with several of the Sky Island team members in the past where we had tremendous success growing the business through add-on acquisitions. We are excited to work with them again to reinvigorate those efforts.”
“We are extremely excited to partner with the MSC team again. As we looked for our first deal at Sky Island, we could not pass up on the opportunity to work with such a talented team and quality company that we are deeply familiar with from our prior management of the company,” remarked Jack Waterstreet, the Managing Partner of Sky Island. “MSC has had spectacular historical performance, but we firmly believe that its best days are ahead given several organic and add-on acquisition growth opportunities.”
About Material Sciences Corporation
Material Sciences (www.materialsciencescorp.com) produces advanced materials and specialty coated metals that are engineered to address light-weighting, noise, vibration, and harshness (“NVH”), corrosion, architectural, and aesthetic needs for a wide variety of end markets including transportation, building products, packaging, and consumer goods. Headquartered in metro Detroit, Michigan, Material Sciences has production facilities in Elk Grove Village, Illinois, East Chicago, Indiana, Walbridge and Canfield, Ohio and Toronto, Ontario.
About Sky Island Capital
Sky Island (www.skyislandcap.com) is a middle market private equity firm based in Dallas, Texas that makes control investments in strategically viable North American manufacturing companies that exhibit transformational upside potential. Sky Island focuses on situations where it can draw upon its deep operational experience to support senior management in driving significant value creation through operational and strategic partnership, including add-on acquisitions.