Stonebridge Partners is pleased to announce the acquisition of Metaris Hydraulics by its portfolio company Hydraulex Global on August 30, 2012. Metaris has a long-standing reputation for being a leading global provider of high-quality aftermarket hydraulic and power transmission components servicing the mobile and industrial markets. Metaris enjoys a strong brand name and sells a large share of its product outside the United States. The acquisition of Metaris further expands the product offerings, worldwide presence and geographic footprint of Hydraulex Global.
“I am quite pleased with the progress made by CEO Shirish Pareek and the senior management team of Hydraulex Global as they have transformed the company into a worldwide leader in providing remanufacturing and aftermarket hydraulic components,” said Mike Bruno, Managing Partner of Stonebridge Partners. “The Metaris transaction fills out our global vision for the Hydraulex business while adding a broad compliment of new aftermarket products. In addition, our longstanding reputation for being fair and reasonable to sellers has enabled Stonebridge to source yet another quality company like Metaris on a direct basis and outside an auction process.”
Hydraulex Global was created by Stonebridge and Shirish Pareek in August 2010 through the platform acquisition of Attica Hydraulic Exchange, followed by the add-on acquisitions of Hydraulic Repair and Design in December 2010, Flint Hydrostatics in June 2012 and Metaris Hydraulics in August 2012. The combined business, Hydraulex Global, has its headquarters in Chesterfield, MI and has facilities in Puyallup, WA; Memphis, TN; Sioux City, IA; Forest, MS; and Toronto, Canada. Furthermore, the senior management team has been strengthened with the addition of seasoned executives in the positions of Vice President of Sales and Marketing, Chief Operating Officer and Chief Financial Officer to manage the now significantly larger and multifaceted business.
Stonebridge Partners continues to be extremely active during 2012 with the completion of three acquisitions (one platform and two add-ons) and a major divestiture of a European segment by one of its portfolio companies at an attractive valuation. Stonebridge Partners has 26 years of experience supporting the growth objectives of middle market manufacturing companies. Stonebridge has invested $575 million of equity through approximately 56 acquisitions and is currently investing through its fourth equity fund, Stonebridge Partners Equity Fund IV, L.P. Stonebridge primarily focuses on value-added manufacturing companies, specifically in the packaging, infrastructure and related products, and specialty manufacturing industries.
For further information, please contact Michael S. Bruno, Jr, Managing Partner, at (914) 682-2700 x13 or firstname.lastname@example.org.