Taylor-Wharton International, a portfolio company of Wind Point Partners, has sold Structural Composites Industries to a subsidiary of Worthington Industries (NYSE: WOR). SCI is a Pomona, Calif.-based maker of high-pressure cylinders used in commercial, military, marine and aerospace applications. no financial terms were disclosed. Lincoln International advised the seller.
Lincoln International LLC, a global mid-market investment bank, today announced the sale of Structural Composites Industries (“SCI”) to Worthington Cylinders, a subsidiary of Worthington Industries (NYSE: WOR). Previously, SCI was owned by Taylor-Wharton International, a portfolio company of Chicago-based private equity firm Wind Point Partners. Lincoln International acted as the exclusive financial advisor to Taylor-Wharton International and Wind Point Partners on this transaction. The terms of the transaction were not disclosed.
Based in Pomona, California, SCI is a leading manufacturer of DOT-approved lightweight, aluminum-lined, composite-wrapped high pressure cylinders used in commercial, military, marine and aerospace applications. Product lines include cylinders for alternative fuel vehicles using natural gas or hydrogen, self-contained breathing apparatus (SCBA), aviation oxygen and escape slides, military applications, home oxygen therapy and advanced & cryogenic structures.
Lincoln International worked closely with SCI, Taylor-Wharton International and Wind Point Partners to conduct a global marketing effort. Nathan Brown, Managing Director at Wind Point Partners, commented that “Lincoln’s global organization and middle-market focus, combined with its superior execution expertise, professionalism and dedication helped us to close this transaction in a difficult M&A environment. The Lincoln team was intimately involved in every part of the process, which helped us achieve a successful outcome.”
Taylor-Wharton International’s CEO, Bill Corbin, added, “Lincoln International played a key role in this process and brought valuable insight – and global relationships – in the industrial gas and pressure cylinder industry.”
The transaction represents another successful assignment completed by Lincoln International’s Global Industrial Group. Having completed over 50 transactions in the past two years, and over 125 since 2005, Lincoln International is one of the most active advisors in the industrial sector.
About Lincoln International
Lincoln International specializes in merger and acquisition services, debt advisory services, UK pension advisory services and providing fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, Madrid, New York, Paris, Tokyo and Vienna, and strategic partnerships with China Everbright in China and ICICI Securities, Inc. in India, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.