Graham Partners’ Add-on Acquisition Displays All the Right Moves
January 2nd, 2007
PHILADELPHIA, January 2, 2007 – Technological innovation is driving strong demand for precision-engineered glass components that are increasingly being designed into a wide variety of products, including industrial and medical equipment, military devices, entertainment systems, and retail applications. Abrisa Glass & Coatings — a portfolio company of Graham Partners, a leading private equity firm focused on investing in mid-sized manufacturing companies — has expanded its leadership position in this specialty, niche precision flat glass market by acquiring Sycamore Glass Components as an add-on late last month. Sycamore brings to Abrisa an expanded blue chip OEM customer base that primarily manufactures cutting edge military, display and optical products; a second manufacturing location strategically located in the central U.S.; and the same dedication to quality, customer service and delivery that has contributed to Abrisa’s success.
Headquartered in Sycamore, Illinois, Sycamore Glass Components has built a sterling reputation as a high-quality provider of precision engineered glass components. The company was founded by Steve Steinbis, who, in addition to several of his key employees, will continue to remain actively involved as part of Abrisa’s leadership team going forward.
“Sycamore adds scale to our Abrisa platform, and provides an opportunity for Abrisa to expand its manufacturing footprint into a new facility that is geographically well-situated with an excellent layout for shorter run, specialty orders,” said Christina Morin, a Managing Principal at Graham Partners.
“All of us at Abrisa feel privileged to have the opportunity to work with the experienced team of employees at Sycamore, and we expect to deliver an enhanced level of customer service to our combined customers. Also, the addition of a second facility enables both Abrisa and Sycamore to offer their customers the assurance of a contingency plan for critical components that are typically not inventoried in large quantities by OEM’s, which should yield incremental business opportunities,” said Eric Selfridge, President of Abrisa.
“I have spent many years building Sycamore Glass Components into a business with a premier reputation as a supplier of critical components for leading OEM customers. It was of the utmost importance to me that Sycamore be able to continue to serve these customers’ needs going forward, and that the incredible team that has contributed to our success at Sycamore be offered rewarding employment opportunities under new ownership. I am very pleased that merging with Abrisa meets both of these key objectives, and am excited to stay on as part of the team at Abrisa,” stated Steve Steinbis, founder of Sycamore Glass.
About Abrisa (www.abrisa.com): Headquartered in Santa Paula, California, Abrisa is a leading fabricator of advanced flat glass components whose products are sold to OEMs and contract manufacturers primarily in the technology & electronics, lighting, military, industrial & commercial equipment, optical, and medical industries. Abrisa fabricates a broad array of glass components by applying a variety of value-added processes and chemical treatments to meet customer specifications or application requirements. With a strong presence in technology and electronic markets, Abrisa is poised for continued growth, driven by increased demand for scanner and touch screen products, which are growing at the expense of traditional information input and data collection products and practices.
About Graham Partners (www.grahampartners.net): Graham Partners is a leading, lower middle market industrial private equity firm based in suburban Philadelphia with over $850 million under management. Graham Partners is sponsored by the privately held Graham Group of York, Pennsylvania, an industrial and investment concern with global interests in plastics, packaging, machinery, building products and outsource manufacturing. Graham Partners seeks to acquire industrial companies with revenues between $20 million and $350 million that participate in manufacturing niches where it can leverage its unique combination of operating resources and financial expertise.
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