M&A Deal Summary

Zurn Elkay Water Solutions Acquires Cambridge International

On May 18, 2016, Zurn Elkay Water Solutions acquired metals/mining company Cambridge International from Industrial Growth Partners for 210M USD

Acquisition Highlights
  • This is Zurn Elkay Water Solutions’ 1st transaction in the Metals/Mining sector.
  • This is Zurn Elkay Water Solutions’ 2nd largest (disclosed) transaction.
  • This is Zurn Elkay Water Solutions’ 2nd transaction in the United States.
  • This is Zurn Elkay Water Solutions’ 1st transaction in Maryland.

M&A Deal Summary
Date 2016-05-18
Target Cambridge International
Sector Metals/Mining
Buyer(s) Zurn Elkay Water Solutions
Sellers(s) Industrial Growth Partners
Deal Type Add-on Acquisition
Deal Value 210M USD

Target

Cambridge International

Cambridge, Maryland, United States
Cambridge International, Inc. is a manufacturer of highly‐engineered metal conveyor belts food & dairy manufacturers of conveyor belts and related woven metal mesh solutions used in a variety of end markets packaging including food & dairy, metal working, packaging, agriculture, building products, Building Products filtration and electronics.

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Buyer(S) 1

Buyer

Zurn Elkay Water Solutions

Milwaukee, Wisconsin, United States
Category Company
Founded 2006
Sector Environmental
Employees1,300
Revenue 1.5B USD (2023)
DESCRIPTION
Zurn Elkay Water Solutions' corporate headquarters in downtown Milwaukee, Wisconsin.
Zurn Elkay Water Solutions' corporate headquarters in downtown Milwaukee, Wisconsin.

Zurn Elkay Water Solutions is a pure-play water business that designs, procures, manufactures, and markets a sustainable product portfolio of solutions to improve health, human safety, and the environment. The Zurn product portfolio includes professional-grade water control and safety, water distribution and drainage, finish plumbing, hygienic, environmental and site works products for public and private spaces. Zurn Elkay Water Solutions was founded in 2006 and is based in Milwaukee, Wisconsin.

DEAL STATS #
Overall 5 of 8
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 5 of 7
State (Maryland) 1 of 1
Country (United States) 2 of 4
Year (2016) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-03 Euroflex Transmissions Pvt.

Hyderabad, India

Euroflex Transmissions (India) Pvt. Ltd. is a global original equipment manufacturer and supplier of high performance disc couplings, used in power generation, gas compression, and industrial process machinery applications. Euroflex has established a strong reputation for engineering and product quality with a growing base of original equipment manufacturers inside and outside India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-09 World Dryer

Berkeley, Illinois, United States

World Dryer Corp. is a manufacturer and worldwide distributor of warm air hand dryers for commercial bathrooms. World Dryer was founded in 1948 and is based in Berkeley, Illinois.

Buy -

Seller(S) 1

SELLER

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.

DEAL STATS #
Overall 19 of 34
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 7 of 18
State (Maryland) 2 of 2
Country (United States) 19 of 33
Year (2016) 1 of 1
Size (of disclosed) 6 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-05 FMH Aerospace

Irvine, California, United States

FMH Aerospace Corporation is a manufacturer of complex,highly-engineered, flight-critical components and assemblies, including metal bellows, bellow joints, metal ducting and metal hoses, for the commercial aerospace, defense, space and industrial markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-06 Des-Case

Goodlettsville, Tennessee, United States

Des-Case is a manufacturer of contamination control products and services for industrial lubricants. Its breathers, specialty filtration products, custom fluid handling equipment and consulting and educational services have helped companies around the world improve their equipment reliability by reducing equipment maintenance costs and downtime. Des-Case was founded in 1983 and is based in Goodlettsville, Tennessee.

Buy -
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