The companies will serve as a new platform, called Global Tube, for further acquisitions. Tom Gosnell, who was president of ArvinMeritor’s commercial vehicle systems group, will be CEO of Global Tube. Both companies make tubes used in emissions, coolant, heating, air intake and exhaust handling systems used in heavy and medium duty trucks and off-road vehicles.
Financial terms were not announced. Regions Business Capital is providing debt financing.
Wind Point’s buy of Global Tube came to light a few weeks ago. Global Tube does business under the names National Tube Form and Southern Tube Form. Wind Point invested about $30 million in National Tube Form, according to a Form D filing dated Sept. 15 and that was first discovered by FormDs.com.
Peoria, Ill-based Peoria Tube makes large-diameter tubes used in the off-road vehicle market. Global Tube Form, which has plants in Fort Wayne, Ind. and Clinton, Tenn., makes bent tubes and related products for heavy and medium duty truck and engine manufacturers.
Wind Point, a Chicago PE firm, made the investment from its seventh fund, which raised $915 million in 2009.