BlackArch Partners Advises on Sale of ZSi-Foster, Inc.
BlackArch Partners (“BlackArch”) is pleased to announce the sale of ZSi-Foster, Inc. (“ZSi-Foster” or the “Company”), a portfolio company of Pfingsten Partners (“Pfingsten”), to Ideal Tridon Holdings, Inc. (“Ideal Tridon”), a portfolio company of Snow Phipps Group (“Snow Phipps”). ZSi-Foster, headquartered in Canton, Michigan, is a leading manufacturer and supplier of connection and support solutions. The Company’s comprehensive portfolio offers high consequence-to-cost products, including metal support systems, clamping components, pneumatic and hydraulic couplers, hoses, hose fittings and hose assemblies, to distributors, other manufacturers and contractors.
Rick Stepien, Chief Executive Officer at ZSi-Foster, commented: “BlackArch’s industry expertise and immediate understanding of our Company’s value proposition made them the ideal advisor for us. Additionally, each team member was heavily involved throughout the process, expertly prepared management for each step and worked extremely well with our team. Their thoughtful approach allowed us to remain focused on running our growing business.”
Tom Bagley, Founder and Senior Managing Director at Pfingsten, added: “BlackArch provided outstanding service that exceeded our expectations. We were impressed by their quick understanding of ZSi-Foster’s merits, which reflected the entire team’s deep knowledge of the industrial sector. BlackArch’s thought leadership and process management resulted in a streamlined process and delivered a great outcome.”
BlackArch was retained by Pfingsten and management to serve as the Company’s exclusive financial advisor. The transaction continues BlackArch’s strong presence in diversified industrials and with companies in the engineered products sector, and is representative of the firm’s focus on providing unique M&A advisory services to high-growth businesses.
Headquartered in Canton, Michigan, ZSi-Foster is a market-leading manufacturer and supplier of highly engineered, mission-critical clamping and coupling devices and strut housing products. The Company’s products are found in demanding environments across diversified end markets, including general industrial, fluid power, HVAC, refrigeration and electrical markets. For more information about ZSi Foster, visit http://www.zsi-foster.com.
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 137 manufacturing, distribution and business services companies. For more information, visit http://www.pfingsten.com.
About Ideal Tridon
Ideal Tridon is a leading global engineering solutions designer and manufacturer of stainless steel and specialty clamps for a broad range of fastening and sealing applications across diverse end markets. Headquartered in Smyrna, Tennessee, Ideal Tridon sells IDEAL TRIDON® brand products to Original Equipment Manufacturers (OEMs) and to Replacement Market warehouses, distributors and retail businesses. IDEAL®, TRIDON® and IDEAL TRIDON® brands are manufactured and distributed globally from facilities in North America, Europe and Asia. For more information about Ideal Tridon, visit http://www.idealtridon.com.
About Snow Phipps
Snow Phipps is a private equity firm focused on lower middle-market control investments with $2.4 billion of total capital commitments raised since its founding in 2005. The firm generally focuses on companies in attractive subsectors across the industrials, services and consumer industries and targets platform investments with enterprise values ranging from $100 million to $500 million. The Snow Phipps investment team collaborates with its Operating Partners and portfolio management teams to create value through an operationally focused strategy often led by organic or acquisition-driven growth. To learn more about Snow Phipps, visit http://www.snowphipps.com.
About BlackArch Partners
BlackArch Partners is a leading middle-market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations. BlackArch addresses the needs of owner operators, founders and shareholders of private companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, North Carolina, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle-market investors; BlackArch professionals have closed more than 350 transactions in 16 countries on four continents. Please visit our website, http://www.blackarchpartners.com, for more details.
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