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acpi Announces Agreement to Acquire Elkay Wood Products Company

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acpi Announces Agreement to Acquire Elkay Wood Products Company

THE COLONY, Texas, Nov. 16, 2018 /PRNewswire-PRWeb/ — ACProducts, Inc. (acpi®) today announced that it has entered into an agreement to acquire Elkay Wood Products Company (“EWP”), a leading manufacturer of kitchen and bath cabinetry. EWP is a renowned manufacturer with an iconic brand portfolio including Medallion®, Design-Craft®, Yorktowne®, Schuler®, Medallion at Menards®, MasterCraft®, and American Cabinetry Collection®.

The combined company will represent the most diverse and balanced cabinet company in North America. With an expansive portfolio across both framed and frameless product offerings, the combined company will be a leader in serving the dealer, direct-to-builder, and home center channels. The combined plant network spans a national footprint with infrastructure to effectively serve cabinet buyers in all 50 states.

The combination will be beneficial for all key stakeholders, most importantly the companies’ customers and associates, and will provide best-in-class product development and marketing on the one hand, complemented by a strong focus on operational excellence, bringing cabinet buyers high quality, great value and peace of mind for their kitchen and bath projects.

“Elkay Wood Products Company has a long and successful history of serving cabinet dealers, builders and home centers. We are proud to welcome Elkay’s 1,600 team members to the acpi family as we grow our fantastic workforce. We are thrilled about the potential this new business combination creates,” said Larry Denbrock, President and CEO, acpi.

Tom Samanic, Elkay Wood Products Company’s President commented, “This is an exciting day for Elkay Wood Products and reflects the hard work and dedication of everyone involved in our history and success over the years, most specifically, our dedicated associates as well as our valued customers and suppliers. We have great respect for acpi and look forward to the next phase in our business’ growth as part of the acpi family. Together, we look to build on past success by continuing to drive product innovation and operational excellence to meet customer needs.”

Tim Jahnke, CEO of Elkay Manufacturing Company, parent company of EWP, added, “We found acpi to be the ideal partner for EWP. The combined business will be a stronger company with a broader product offering to serve the market more completely. The sale also enables further investment in the long-term growth of the other Elkay businesses.”
The transaction, which is subject to customary closing conditions, is expected to be completed by the end of Q1, 2019.

Jefferies LLC served as financial advisor to Elkay Manufacturing Company in connection with this transaction and Mayer Brown LLP acted as Elkay Manufacturing Company’s legal advisor.

Ropes & Gray LLP served as legal advisor to acpi in connection with this transaction.

# # #

About acpi™

acpi is the largest independent manufacturer and distributor of cabinets in the United States. Our 286,000-square foot facility in Thompsontown, PA is home to our Echelon Cabinetry and Advanta Cabinetry brands, offering six wood species for our stock and semi-custom framed cabinets, including cherry, maple, oak, birch, plantation hardwood, and laminate / thermofoil. Additionally, acpi launched a frameless line, Studio Full Access, in 2015 under its Advanta brand to support our multifamily market offerings. Acpi recently acquired additional capacity through a purchase of a 200,000-square foot facility in Mount Union, PA, which supports Studio Full Access and acpi’s new Serenade brand, a semi-custom frameless line targeting dealer customers. In January 2017, acpi acquired Smart Cabinetry, a New Paris, Indiana-based, highly efficient provider of opening price point framed cabinets. Finally, acpi has recently completed two additional acquisitions of Cabinets 2000 and Master WoodCraft. Cabinets 2000 is a Norwalk, CA-based manufacturer of high-end frameless cabinets for the Southern California market. Master WoodCraft is a Marshall, TX-based manufacturer of framed and frameless cabinets for the multifamily builder market. acpi serves customers through a multi-channel approach of direct sales and sales to dealers and distributors, all through a broad network of 3PL and distribution locations across the United States.

https://www.advantacabinets.com
https://www.echeloncabinetry.com
https://www.smartcabinetry.com
https://www.mwccabinetry.com
https://www.cabinets2000.com
https://www.serenadecabinetry.com

About Elkay

Elkay is 98-year-old family-owned and operated manufacturer of products for the building industry. Family-owned and professionally managed, Elkay has been making innovative products and delivering excellent customer care since 1920. Headquartered in Oak Brook, Illinois, Elkay today delivers world-class sinks, faucets, foodservice fixtures, water coolers, drinking fountains and award-winning rapid bottle filling stations. Elkay Interior Systems is an international leader in the design and build of branded retail environments for some of the world’s most fast growing and beloved restaurant and hospitality brands. To learn more about Elkay, visit https://corporate.elkay.com/.

https://www.medallioncabinetry.com
https://www.designcraftcabinets.com
https://www.yorktownecabinetry.com
https://www.schulercabinetry.com
https://www.medallionatmenards.com
https://www.mastercraftcabinets.com
https://www.americancabinetrycollection.com

SOURCE acpi

Armstrong Flooring Announces Agreement to Sell Its Wood Flooring Segment to American Industrial Partners

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Armstrong Flooring Announces Agreement to Sell Its Wood Flooring Segment to American Industrial Partners
November 15, 2018 08:00 AM Eastern Standard Time

Excerpts from Armstrong Flooring Press Release:

LANCASTER, Pa.–(BUSINESS WIRE)–Armstrong Flooring, Inc. (NYSE: AFI) (“Armstrong Flooring” or the “Company”) has entered into a definitive agreement to sell its Wood Flooring segment to an affiliate of American Industrial Partners (“AIP”) for a purchase price of $100 million, subject to customary adjustments for working capital, debt, and other matters. The transaction is valued at approximately 7.2 times the Wood Flooring segment’s trailing twelve month Adjusted EBITDA. As of October 31, 2018 Armstrong Flooring’s Wood Flooring segment comprised six U.S. manufacturing facilities primarily serving the North American region and approximately 1,700 employees. The transaction, which is subject to customary closing conditions, is expected to be completed at the end of the fourth quarter of 2018.

AIP will gain Armstrong Flooring’s high-quality wood flooring product portfolio and existing network of wood floor manufacturing facilities, staffed by an experienced wood flooring team. AIP will own the Bruce brand and all other Wood Flooring segment brands. To ensure a seamless transition for customers, AIP will have full access to the Armstrong Flooring brand for the sale of wood products for two years after closing.

Rick Hoffman, Partner at AIP, said, “Don and I believe this strategic decision empowers both the resilient and wood flooring businesses to better realize their core strengths and pursue strategies for growth, product innovation and quality, and exceptional service to customers. Our companies look forward to working closely with each other to ensure a seamless transition for employees, customers and suppliers.”

About American Industrial Partners
American Industrial Partners is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 90 transactions and currently has $4.2 billion of assets under management on behalf of leading pension, endowment and financial institutions. For more information on AIP, visit www.americanindustrial.com.

About Armstrong Flooring
Armstrong Flooring, Inc. (NYSE: AFI) is a global leader in the design and manufacture of innovative flooring solutions that inspire spaces where people live, work, learn, heal and play SM. Headquartered in Lancaster, Pa., Armstrong Flooring is a leading manufacturer of resilient products across North America. The Company safely and responsibly operates 15 manufacturing facilities in three countries and employs approximately 3,500 individuals, all working together to provide the highest levels of service, quality and innovation to ensure it remains as strong and vital as its 150-year heritage. Learn more at www.armstrongflooring.com.

American Industrial Partners to Acquire Current, powered by GE

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Announcement Date/Time: Nov. 6, 7:00 a.m. EST

American Industrial Partners to Acquire Current, powered by GE

• American Industrial Partners to provide technology investment and operational expertise to accelerate Current’s growth

• Current would continue using the GE brand under a licensing agreement

BOSTON, Nov. 6, 2018 – GE (NYSE: GE) today announced it has signed a proposed agreement to sell its Current, powered by GE business to American Industrial Partners (AIP), a New York-based private equity firm that focuses on buying, improving and growing industrial businesses. The proposed transaction is expected to close in early 2019, subject to customary closing conditions, regulatory approvals and consultation processes where required under local law. Financial details were not disclosed.

Current is a leading provider of energy efficiency and digital productivity solutions for commercial offices, retail stores, industrial facilities and cities. Its commercial technology portfolio includes LED and traditional lighting solutions, plus a wide variety of connected sensors, controls and software. As part of the proposed sale, Current would maintain use of the GE brand under a licensing agreement.

“American Industrial Partners would be a great home for Current moving forward. The firm’s deep expertise in operations and engineering, combined with its highly successful track record of industrial business investments, would help us accelerate Current’s growth,” said Maryrose Sylvester, President & CEO of Current. “We look forward to partnering with the AIP team to further establish Current as a leader in the rapidly growing IoT lighting space.”

With more than 90 transactions completed and $4.2 billion of assets under management, American Industrial Partners has deep roots in the industrial economy and has been active in private equity investing for nearly 30 years. The firm is operationally-oriented and focused on middle-market opportunities for industrial businesses serving both domestic and global markets.

“GE’s history of innovation, quality, reliability and deep domain expertise is an ideal fit with our investment strategy,” said Eric Baroyan, a Partner of AIP. “We look forward to continuing that legacy by supporting Current’s management team on the key growth initiatives, building upon Current’s extensive product portfolio and leading digital solutions that are helping customers gain energy savings and greater insights into their environment through a sophisticated intelligent ecosystem platform. We are thrilled to partner with Maryrose Sylvester and the leadership team to invest in Current’s industry renowned engineering, manufacturing, digital and supply chain capabilities to capture the significant opportunity of energy efficiency and digitalization ahead of us.”

UBS Investment Bank acted as lead financial advisor, and Sidley Austin LLP acted as lead legal advisor to GE. Greentech Capital Advisors and Wells Fargo Securities, LLC also advised GE. Barclays plc acted as financial advisor to AIP. Ropes & Gray LLP and McGuireWoods LLP acted as legal advisors to AIP.

The North American consumer lighting business of GE Lighting is not included as part of the proposed transaction. GE remains actively engaged in the process to sell this business.

About Current, powered by GE
Current is the digital engine for intelligent environments. A first-of-its-kind startup within the walls of GE (NYSE: GE), Current blends advanced LED technology with networked sensors and software to make commercial buildings, retail stores, industrial facilities and cities more energy efficient & productive. Backed by a broad ecosystem of technology partners, Current is helping businesses and cities unlock hidden value and realize the potential of their environments. www.currentbyge.com

About American Industrial Partners
American Industrial Partners is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 90 transactions and currently has $4.2 billion of assets under management on behalf of leading pension, endowment and financial institutions. For more information on AIP, visit www.americanindustrial.com.

Contiweb formalizes independence on 40th anniversary

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Contiweb, a renowned specialist in state-of-the-art technologies for advanced drying and web-handling products for printing, today announces that it is officially operating as an independent company.

The formalization of its independence, which coincides with the company’s 40th anniversary, sees Contiweb further cement its position as a leader in web offset solutions and continue to enhance its offering in the digital market as well as the label and packaging sector. Previously a subsidiary of Goss International, which has now merged with manroland web systems, Contiweb will continue to operate under ownership of American Industrial Partners (AIP), an investment company focused on building middle market industrial companies.

“We are excited to be celebrating this double milestone,” says Bert Schoonderbeek, Managing Director at Contiweb. “Beyond enabling us to continue to develop cutting-edge solutions that provide the best answer to our customers’ challenges, this new direction will also allow us to drive brand awareness across the globe and form close partnerships with our customers, suppliers and our diverse group of OEM partners, including Goss and manroland.

“Over the past 40 years, we have built a reputation as a frontrunner in web offset thanks to our innovative result-led solutions. These include the Contiweb Ecoset dryer that provides our customers with production reliability with incredible energy efficiency, and more recently, the Contiweb Thallo web offset packaging press. With the flexible packaging market continuing to grow at a steady pace, we believe that the press’ distinctive production capabilities will play a vital role in expanding our customer base and fortifying our foothold within this sector.”

Comprehensive Customer Care and Dedicated Worldwide Dealer Network
Over four decades, Contiweb has developed a wide range of business-enhancing tools and services to optimize productivity and propel the competitiveness of its customers operations. These include a global 24-hour parts delivery and help desk, providing customers with around-the-clock service to maintain uptime and increase throughput.

Commenting on the impact that Contiweb’s independence will have on customers, Rutger Jansen, Director Sales, explains: “This announcement sees our service and communication channel remain unchanged for both existing and new customers. We will continue to liaise directly with European and American businesses and strengthen our relationships with customers beyond this region via the creation of a global sales and service network.”

Comprising of well-established print suppliers, the network will continue to drive sales of Contiweb’s innovative web offset, digital, label and packaging and web finishing solutions as well as provide customers with comprehensive support and training.

Schoonderbeek concludes: “We would like to congratulate both Goss and manroland on their merger and particularly thank Goss for its constant support over the years. We look forward to nurturing this long-established relationship in a new capacity.”

To find out more information about regional sales channels, please contact us.

Contiweb
Ir. Wagterstraat 10
P.O. Box 203
5830 AE Boxmeer
The Netherlands
Phone : (+31) 485 597 111
Phone 24/7: (+31) 485 597 333
[email protected]

August 20, 2018

manroland web systems and Goss International complete business combination

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Press Release
001/2018 | 2018-08-17 | ½

manroland web systems and Goss International complete business combination

Forward-looking merger enables global market presence, broad product range, technological excellence, long-term comprehensive customer support, and e-business in the web-fed printing market.

manroland web systems and Goss International (“Goss”), both long-time web offset printing manufacturers and service providers, announce that they have completed the transaction to combine their businesses. The new company will operate under the brand name “manroland Goss web systems” and will be the strongest supplier to web printing companies worldwide.

Alexander Wassermann, CEO of manroland web systems, will become CEO of the new company with global headquarters in Augsburg, Germany. The company’s North American headquarters will be in Durham, NH. Mohit Uberoi, previous CEO of Goss International, will stay connected with the business as a board member and assist the management team with business integration.

The shareholders of manroland web systems and Goss International, the Lübeck-based Possehl Group and NY-based American Industrial Partners (AIP) respectively, will both remain shareholders of the new company supporting the established business-building strategy.

The Contiweb business as well as the manroland web production business are not included in this transaction and will stay independent as AIP and Possehl portfolio companies, respectively.

Merger for synergies, innovation, consistent customer orientation, and optimized services

Alexander Wassermann, CEO of manroland Goss web systems, has clear plans: “Both manroland web systems and Goss International were on a sustainable path to success. We will strengthen this path by increasing our global reach, continuing our innovative and focused R&D activities, and enhancing our market presence through targeted consolidation. Our customers will be able to choose from an even broader portfolio of products and services, supported by the industry leading e-commerce platform MARKET-X.”

manroland Goss web systems will concentrate on four main business areas: System Solutions (highly automated press and post-press equipment including pre-owned offerings, press relocations), Engineered Solutions (mechanical, automation and closed-loop solutions for all types of presses), Service Solutions (best-in-class service in parts, labor, tele-support and performance based service agreements) and E-Commerce Solutions (electronic marketplace for efficient ordering and logistics performance for all suppliers to the web offset industry).

The starting point for the merger is promising, with the new company relying on the combined expertise of its 1000+ employees and its suppliers. Both manroland web systems and Goss will leverage their successful structural and technological developments in recent years within new product development, expansive aftermarket product offerings and development of a lean business structure in line with overall market trends to build a strong business platform for the future.

With its broad range of products and services, the new company will be the high-performance partner for all web printers. The common goal is to support the performance of customers with a “best of the best” approach. Starting August 17th, 2018, the combined company will work actively with all customers on a positive development of the web-fed printing business.

The manroland Goss Group is the leading supplier of web-offset printing solutions: System Solutions for highly automated press and post-press equipment, Engineered Solutions for mechanical, automation and closed-loop upgrades for all types of presses, Service Solutions for parts and labor, tele-support and service level agreements 24/365, and E-commerce Solutions for all suppliers to the web offset industry and beyond.

manroland Goss Group
86219 Augsburg
Dr. Daniel Raffler
Office +49 (0) 821 424 45 85
Cell phone +49 (0) 170 92 62 891
[email protected]
Photos can be downloaded via
www.manrolandgoss.com

Photos can be downloaded via www.manrolandgoss.com
This press release contains projections for the future based on the well-founded assumptions and prognoses of the management of manroland web systems NewCo GmbH. Though management believes these assumptions and estimates to be correct, actual developments in the future, as well as actual operating results, may deviate from those put forward by management due to factors beyond the control of the company, such factors to include, for example, fluctuating exchange rates, changes within the graphic arts industry, or any other unforeseen economic and/or market transformations. manroland web systems NewCo GmbH makes no guarantees that future developments and/or future operating results will match any of the numbers and/or statements put forth in this press release, and assumes no liability if such situations arise. Furthermore, no responsibility is assumed for updating any of the statements and/or figures contained.

About American Industrial Partners
American Industrial Partners is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 70 transactions and currently has $4.1 billion of assets under management on behalf of leading pension, endowment and financial institutions. For more information on AIP, visit www.americanindustrial.com.

L3 Completes Sale of Vertex Aerospace Businesses

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L3 Completes Sale of Vertex Aerospace Businesses

July 03, 2018 11:48 AM Eastern Daylight Time

NEW YORK–(BUSINESS WIRE)–L3 Technologies (NYSE:LLL) announced today that on June 29, 2018 it completed the previously announced sale of its Vertex Aerospace businesses to American Industrial Partners for $540 million in cash, subject to customary adjustments. The sale included the Crestview Aerospace and TCS business units, which were part of L3’s Aerospace Systems business segment. Vertex Aerospace provides aviation logistics services, supply chain management, and maintenance, repair and overhaul services. Crestview Aerospace provides select rotary aircraft component fabrication and assembly, and TCS provides select engineering services and logistics support.

“The sale of Vertex is another positive step that will enable us to reshape and align our portfolio with customers’ priorities”

“The sale of Vertex is another positive step that will enable us to reshape and align our portfolio with customers’ priorities,” said Christopher E. Kubasik, L3’s Chairman, Chief Executive Officer and President. “We will use the proceeds from the sale to continue our strategy of investing in businesses that position our company for growth.”

Headquartered in New York City, L3 Technologies employs approximately 31,000 people worldwide and is a leading provider of a broad range of communication, electronic and sensor systems used on military, homeland security and commercial platforms. L3 is also a prime contractor in aerospace systems, security and detection systems, and pilot training. The company reported 2017 sales of $9.6 billion.

To learn more about L3, please visit the company’s website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company’s website and is readily accessible.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.

Contacts
L3 Technologies
Corporate Communications
212-697-1111

L3 Signs Definitive Agreement to Sell Its Vertex Business to American Industrial Partners

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L3 Signs Definitive Agreement to Sell Its Vertex Aerospace Business to American Industrial Partners

May 01, 2018 07:00 AM Eastern Daylight Time

NEW YORK–(BUSINESS WIRE)–L3 Technologies (NYSE:LLL) announced today that it has entered into a definitive agreement to sell its Vertex Aerospace business to American Industrial Partners for $540 million in cash. As part of the agreement, L3 will also sell its Crestview Aerospace and TCS business units, which are included in the Aerospace Systems business segment.

“This is a strategic step toward optimizing L3’s portfolio. We will use the proceeds from the sale to invest in the continued growth of L3, consistent with our capital allocation strategy and plans.”

“We’re pleased with this divestiture process,” said Christopher E. Kubasik, L3’s Chief Executive Officer and President. “This is a strategic step toward optimizing L3’s portfolio. We will use the proceeds from the sale to invest in the continued growth of L3, consistent with our capital allocation strategy and plans.”

This transaction is anticipated to be completed in the summer of 2018, subject to customary closing conditions and regulatory approvals. The Vertex Aerospace results of operations were reported as discontinued operations beginning in the fourth quarter of 2017, and Crestview Aerospace and TCS were reported as assets held for sale in continuing operations. The company expects to record a gain on the sale of these businesses.

Vertex Aerospace provides aviation logistics services, supply chain management, and maintenance, repair and overhaul services. Crestview Aerospace provides select rotary aircraft component fabrication and assembly, and TCS provides select engineering services and logistics support. For the year ended December 31, 2017, Crestview Aerospace and TCS generated $115 million of net sales, which were included in the Aerospace Systems segment results.

Moelis & Company LLC served as the financial advisor to L3 in connection with the transaction. Simpson Thacher & Bartlett LLP served as legal advisor to L3.

Headquartered in New York City, L3 Technologies employs approximately 31,000 people worldwide and is a leading provider of a broad range of communication, electronic and sensor systems used on military, homeland security and commercial platforms. L3 is also a prime contractor in aerospace systems, security and detection systems, and pilot training. The company reported 2017 sales of $9.6 billion.

To learn more about L3, please visit the company’s website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company’s website and is readily accessible.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.

Contacts
L3 Technologies
Corporate Communications
212-697-1111

American Industrial Partners Completes Acquisition of Rand Logistics, Inc.

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Jersey City, NJ March 1, 2018

Rand Logistics, Inc. (“Rand” and, together with its subsidiaries, the “Company”), a leading provider of bulk freight shipping services throughout the Great Lakes Region, announced today that American Industrial Partners (“AIP”) has completed its acquisition of the Company. AIP is a New York-based private equity firm with over $4.0 billion of assets under management that has focused on buying, improving and growing industrial businesses in the U.S. and Canada for over 20 years.

The transaction, which includes the confirmation of the prepackaged Chapter 11 Plan related to Rand and certain of its subsidiaries was consummated after all conditions to effectiveness in the Plan were satisfied or waived. As a result, the Company has emerged from Chapter 11 with a materially delevered balance sheet and dramatically reduced annual interest expense. By virtue of the acquisition of the Company by AIP, Rand now enjoys its strongest financial position in recent years.

“We are pleased to have completed the transaction and to be partners with a leading private equity firm that shares our vision for Rand’s future,” commented Edward Levy, President and Chief Executive Officer of Rand. Mr. Levy added, “The transaction has recast our balance sheet and positions the Company for continued customer service and growth.”

“We are thrilled to partner with Rand and its leadership team to welcome a new beginning for a clear market leader in shipping and logistics on the Great Lakes,” said Jason Perri, a Partner of AIP. “Rand’s track record of reliability, safety, and service in moving critical raw materials among world class customers between ports on the Great Lakes speaks for itself. We are pleased to help Rand reduce its debt burden and restore its financial health for the benefit of all stakeholders, especially customers and employees, and look forward to working with Rand to continue to improve its operations and broaden its capabilities as a new platform for growth under our ownership.”

About Rand Logistics Rand Logistics, Inc. is a leading provider of bulk freight shipping services throughout the Great Lakes region. Through its subsidiaries, the Company operates a fleet of three conventional bulk carriers and twelve self-unloading bulk carriers including three tug/barge units. The Company is the only carrier able to offer significant domestic port-to-port services in both Canada and the U.S. on the Great Lakes. The Company’s vessels operate under the U.S. Jones Act – which reserves domestic waterborne commerce to vessels that are U.S. owned, built and crewed –and the Canada Coasting Trade Act – which reserves domestic waterborne commerce to Canadian registered and crewed vessels that operate between Canadian ports.

About American Industrial Partners
American Industrial Partners is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 70 transactions and currently has $4.1 billion of assets under management on behalf of leading pension, endowment and financial institutions. For more information on AIP, visit www.americanindustrial.com.

CONTACT:
Rand Logistics, Inc.
Corporate Communications:
Annemarie Dobler
(212) 863-9429
[email protected]

Contiweb to become independent

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Contiweb, a renowned specialist in state-of-the-art technologies for advanced drying and web-handling products for printing today announced its plan to formalize its separation and operate as an independent company. Today Goss and manroland web systems announced the combination of their printing press businesses, with expected completion in mid-2018, subject to regulatory [and other] approvals. After transaction close, Contiweb will become a separate company under the ownership of American Industrial Partners with operations headquartered in Boxmeer, Netherlands

As an independent company, Contiweb will continue its growth agenda in becoming the premier ancillary supplier for Commercial and Digital Inkjet printing applications and press supplier for Label & Packaging applications. In addition, Contiweb will also continue its strong focus on product lifetime support by offering its full suite of aftermarket solutions for customers

Bert Schoonderbeek, Managing Director at Contiweb sees this development as a natural step, following the Contiweb repositioning in 2016. “We will continue to build upon our successful relationship with both Goss and manroland and are looking forward to continuing the cooperation as a strong partner of the combined company as we pursue other diversification opportunities. “Contiweb’s separation marks a new era for further growth of the company.“

Until transaction close, sales and service channels will remain unchanged.

March 1, 2018

American Industrial Partners Acquires The Brock Group

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October 30, 2017

American Industrial Partners Acquires The Brock Group

HOUSTON, TX – The Brock Group, a Houston-based provider of mission critical services to the refining, petrochemical, power generation and other industries, announced today that American Industrial Partners (AIP) has acquired majority ownership of the company. AIP is a New York-based private equity firm that focuses on buying, improving and growing industrial businesses in the US and Canada. Through the transaction, a substantial new money investment has added meaningful liquidity and capital resources to the company’s balance sheet, putting Brock in the strongest financial position in recent history.

“Today’s announcement represents an extremely positive step for the future of our company,” said Brock Chairman and Chief Executive Officer Mike McGinnis. “Brock’s leading position as a trusted supplier of services for large scale capital projects, critical maintenance and turnarounds will be further solidified with AIP as a partner. Furthermore, AIP’s investment in Brock significantly reduces our debt, strengthens our balance sheet and enables us to make new investments to enhance our commitments to our customers and drive the growth of our company. AIP’s expertise in industrial-sector businesses and collaborative management style will help position us to take advantage of the significant marketplace opportunities we see.”

AIP will work with management and employees to implement an operating agenda and business transformation that will substantially enhance Brock’s already excellent ability to service its customers and grow its presence in existing and new end markets. Over time, AIP will look to add to Brock’s portfolio of soft crafts and services in order to continue to solidify the company’s position as a one-stop shop for customer needs on-site.

“We are thrilled to partner with Brock and its leadership team to welcome a new beginning for a clear market leader in the industrial services space,” said Jason Perri, a Partner of American Industrial Partners. “Brock’s track record of unparalleled service and safety in providing mission-critical services to some of the largest companies in the world speaks for itself, and fits well with AIP’s goal of working together with great businesses to help them achieve their full potential.”

* * *

About The Brock Group
The Brock Group is a leading provider of industrial specialty services with headquarters in Houston, Texas, and operating units in the United States and Canada. The company supports routine maintenance, turnarounds and capital projects by providing services including scaffolding and work access, insulation, coatings/linings, and asbestos abatement, as well as additional associated services. Brock has longstanding relationships with a broad array of customers including some of the largest Fortune 500 companies in the oil & gas, refining, petrochemical, power generation, LNG and pharmaceutical industries. For more information on Brock, visit www.brockgroup.com.

About American Industrial Partners
American Industrial Partners is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 70 transactions and currently has $4.1 billion of assets under management on behalf of leading pension, endowment and financial institutions. For more information on AIP, visit www.americanindustrial.com.