Strait Lane Capital Partners has acquired Griswold Corp, a Connecticut-based maker of rubber and urethane foam products. No financial terms were disclosed. Sperry, Mitchell & Company advised Griswold on the transaction.
New York, NY (October 1, 2015) – Griswold Corporation (“Griswold”) of Moosup, CT has been acquired by Strait Lane Capital Partners (“SLCP”) of Dallas, TX. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to Griswold.
Griswold Corporation (www.griswoldcorp.com) is a leading manufacturer of open-cell rubber and urethane foam products. Founded in 1949, Griswold develops, formulates, and manufactures high-performance specialty polymers for a diverse group of end markets, including consumer products, electronics, automotive, and general industrial. Griswold is the largest domestic producer of open-cell sponge rubber in continuous roll form, and is a leading manufacturer of urethane foam for technically-complex applications that require superior gasketing, sealing and sound & vibration damping properties.
Strait Lane Capital Partners (www.straitlanecapital.com) is a privately held investment firm focused on acquiring middle-market businesses. SLCP brings strategic insights and expertise including effective governance, operational excellence, vertical market depth, and extensive private and public client relationships. SLCP was formed in 2009 as the investment arm of two family offices.
Sperry, Mitchell & Company, Inc. (www.sperrymitchell.com) is an investment banking firm specializing in middle-market merger and acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $10 to $450 million.