Buyout (LBO, MBO, MBI) • Manufacturing

Cornerstone Industrial Group Acquires Gasko Fabricated Products Co.

On January 1, 1998, private equity firm Cornerstone Industrial Group acquired manufacturer Gasko Fabricated Products Co.

Acquisition Context
  • This is Cornerstone Industrial Group’s 2nd transaction in the Manufacturing sector.
  • This is Cornerstone Industrial Group’s 2nd transaction in the United States.
  • This is Cornerstone Industrial Group’s 1st transaction in Ohio.
Investment Fate
  • Gasko Fabricated Products Co. was sold to a consortium of financial buyers in 2012.
  • Gasko Fabricated Products Co. was sold to a strategic buyer in 2018.

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M&A Deal Summary

Date January 1, 1998
Target Gasko Fabricated Products Co.
Sector Manufacturing
Buyer(s) Cornerstone Industrial Group
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Gasko Fabricated Products Co.

Middlefield, Ohio, United States
Gasko Fabricated Products Co. is a specialist in die-cutting nonmetallic materials with custom fabrication capabilities, Gasko offers a variety of products and processes that utilize a broad breadth of materials. Gasko Fabricated Products is based in Middlefield, Ohio.
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Buyer Overview 1

Buyer

Cornerstone Industrial Group

Chagrin Falls, Ohio, United States

Investor


Category Private Equity Firm
Founded 1998
Size Small
Type Sector Agnostic
DESCRIPTION

Cornerstone Industrial is a private investment firm that looks to acquire and invest in privately held industrial companies in the Great Lakes area of the US and Canada. Cornerstone seeks companies with operating income under $5 million. Specific areas of interest include rubber and plastics products; manufacturers of industrial machinery; fabricated metal products; measuring instruments; industrial products; refractory and ceramic products; value-added distributors; and niche business services. Cornerstone acquires majority interests only. Cornerstone will not invest in startups or companies with high customer concentration. Cornerstone Industrial was formed in 1997 and is based in Chagrin Falls, Ohio.


Deal Context for Buyer #
Overall 2 of 6
Sector: Manufacturing 2 of 4
Type: Buyout (LBO, MBO, MBI) 2 of 6
State: Ohio 1 of 2
Country: United States 2 of 6
Year: 1998 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Rhopac

Libertyville, Illinois, United States

Rhopac is a fabricator and converter of flexible, non-metallic materials into tight tolerance parts and components that include diaphragms, seals, pressure-sensitive tapes, gaskets, and vibration control & sound dampening solutions. Rhopac was founded in 1932 and is based in Libertyville, Illinois.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-05 Wahl Refractory Solutions

Fremont, Ohio, United States

Wahl Refractory Solutions is a manufacturer of special refractory products for the aluminum, steel, cement and other high temperature process industries. Wahl is focused on pre-cast and monolithic refractories. Wahl Refractory Solutions was founded in 1921 and is based in Fremont, Ohio.

Buy -