Sale of Greenville Tube to RathGibson.CHICAGO -- Goldsmith Agio AGIO, aggio. This term is used to denote the difference of price between the value of bank notes and nominal money, and the coin of the country. Encyc. Helms is pleased to announce the sale of its client, Greenville Tube Company ("Greenville Tube" or the "Company") to RathGibson Inc. ("RathGibson"), a portfolio company of Castle Harlan, Inc. ("Castle Harlan"). Founded in 1950, Greenville Tube manufactures stainless-steel tubing for a broad range of applications in the petrochemical, agriculture, transportation, medical, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. , and other industries. Greenville has more than 50 years of experience in manufacturing high precision tubing. Greenville Tube was owned by its management, Capital for Business, and a consortium of private equity firms including Hickory Venture Group, Diamond State Ventures, Alpha Capital Partners and Mid States Capital. TRANSACTION HIGHLIGHTS Multiple potential acquirers expressed strong interest in Greenville Tube, which has built a premier position in the manufacture of precision seamless stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. tubing. Greenville Tube's customers value the Company's ability to provide high-quality drawn tubing in odd sizes, odd lots, and non-traditional grades, and deliver orders with short lead times. Over the past several years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Company has developed both "welded" and "welded and drawn" tube production capabilities that have enhanced its growth prospects. RathGibson was selected as the buyer in large part because of the strategic fit between Greenville Tube and RathGibson, Inc., which Castle Harlan acquired in February 2006. "The customer focus philosophy of Greenville is in line with the historic approach at RathGibson," said Harley Kaplan, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of RathGibson. "The product capabilities in the Clarksville facility are an excellent fit and will enhance service to our domestic customers as well as fuel the international growth already underway at RathGibson." "Greenville Tube has made excellent progress in the marketplace since our investment in the Company in 2003 and is poised for continued growth." said Steve Broun, Senior Vice President of Capital for Business. "We feel the Company and its employees will be in good hands under the ownership of Castle Harlan and RathGibson." Craig Korte, a vice president at Goldsmith Agio Helms who worked on the transaction, noted "Greenville Tube's strong business model and specialized manufacturing capabilities should benefit from the increased scale and resources that RathGibson provides." Stephen J. Miles, a managing director of Goldsmith Agio Helms, commented, "The acquisition of Greenville Tube is another example of Goldsmith Agio Helms' strong presence in the industrials market where we have completed more than 200 M&A transactions. This transaction represents our 30th completed deal in 2006." THE COMPANY Greenville Tube manufactures stainless-steel tubing for a broad range of applications in the petrochemical, agriculture, transportation, medical, food processing, and other industries. Specializing in sizes ranging from 1/8" to 13/8" outside diameter Outside diameter is the diameter of the addendum (tip) circle. In a bevel gear it is the diameter of the crown circle. In a throated wormgear it is the maximum diameter of the blank. The term applies to external gears.1 Notes 1. , Greenville has more than 50 years of experience in manufacturing high precision tubing. Throughout its history, the Company has focused on serving non-commodity niche tubing markets by providing high quality stainless-steel tubing in odd sizes, odd lots, and non-traditional grades, and delivering orders with short lead times. THE BUYER Castle Harlan (www.castleharlan.com) invests in controlling interests in the buyout and development of middle market companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. Its team of 19 investment professionals has completed 45 acquisitions since its inception with a total value in excess of $8.7 billion. The firm traces its roots to the start of the institutionalized in·sti·tu·tion·al·ize tr.v. in·sti·tu·tion·al·ized, in·sti·tu·tion·al·iz·ing, in·sti·tu·tion·al·iz·es 1. a. To make into, treat as, or give the character of an institution to. b. private-equity business in the late 1960s. Castle Harlan's owned companies, which employ more than 42,000 people, include Ames True Temper, a leading manufacturer of lawn and garden tools and accessories; Polypipe Group, a leading manufacturer and supplier of plastic pipe systems in the U.K. and Ireland; and Baker & Taylor, a leading domestic and international distributor of books and entertainment products to libraries and retailers. RathGibson, Inc. (www.rathgibson.com), is a leading manufacturer of highly engineered premium stainless steel and alloy welded tubing products. RathGibson, headquartered in Janesville, Wisconsin Janesville is a city in southern Wisconsin. It is the county seat of Rock CountyGR6 and the principal municipality of the Janesville, Wisconsin Metropolitan Statistical Area. As of the 2000 census, the city had a population of 59,498. , with operations also in North Branch, New Jersey and sales offices in Houston and Shanghai China, makes a variety of straight and coiled welded tubing products and has a leading share in a number of niche markets. These include the chemical and petrochemical industries, energy, food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. and the pharmaceutical industry. RathGibson's products are fabricated according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. customer specifications, and the tubing can be customized to specific lengths of up to 80,000 feet. The company's primary trade brands, Rath rath (rä, räth), circular hill fort protected by earthworks, used by the ancient Irish in the pre-Christian era as a retreat in time of danger. and Gibson Tube, are recognized as industry leaders. ABOUT GOLDSMITH AGIO HELMS Goldsmith Agio Helms (www.agio.com) is one of the nation's leading independent investment banking firms providing sophisticated corporate finance advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to middle-market businesses. The firm's services include mergers and acquisitions, private placements of debt and equity, distressed advisory and restructuring, and financial advisory and opinion services. The firm operates internationally from its offices in Minneapolis, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Chicago, Los Angeles, and London. If you would like more information about this transaction, contact Steve Miles, smiles@agio.com, 312-928-0760, or Craig Korte, ckorte@agio.com at 312-928-0760. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion