CLEVELAND, Feb. 01, 2017 (GLOBE NEWSWIRE) -- Blue Point Capital Partners and its Blue Point II portfolio company, Alco Manufacturing Corporation, LLC, announced today the acquisition of K&M Precision Products Co., a complementary precision machined steel products manufacturer and Alco’s third facility acquired while partnered with Blue Point.
“K&M continues Alco’s capability expansion and is the second transaction in twelve months for Alco, following the 2016 add-on acquisition of Lakeshore,” said Sean Ward, a Partner with Blue Point. “Alco is the one-stop machining company for the fittings industry, and the continued expansion positions Alco for future end market and material growth.”
Alco maintains a significant market share with many of the largest North American fittings companies and serves a variety of end markets, including construction, agriculture, mining, water management and energy. The acquisition of K&M, located in Dexter, Michigan, will expand Alco’s domestic footprint and capture new industries served, such as aerospace and maritime.
“At Alco, we seek continuous improvements with respect to our customer partnerships through an array of value-add initiatives. K&M’s quality, raw material diversity, time-tested performance and company culture are all complementary to these initiatives. We are excited about the addition of K&M and look forward to the next chapter of Alco’s growth,” said DJ Mumma, President of Alco.
Alco Manufacturing Corporation (www.alcomfgcorp.com), headquartered in Elyria, Ohio, is the largest independent manufacturer of precision machined close tolerance steel components used in high pressure fluid power applications. For over 45 years, Alco has been the preferred or sole-source supplier of engineered steel, brass and aluminum machined products to its customers as original and replacement parts in hydraulic systems worldwide.
Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $800 million in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of an international firm. The Blue Point group has a 26-year track record of partnering with companies in the lower middle market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and China, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in manufacturing, distribution and service businesses generating between $20 million and $200 million in revenue.
For more information, contact: BLUE POINT CAPITAL PARTNERS Sean Ward Partner Blue Point Capital Partners, LLC 127 Public Square, Suite 5100 Cleveland, OH 44114 (216) 535-4705 firstname.lastname@example.org ALCO MANUFACTURING DJ Mumma President Alco Manufacturing Corporation, LLC 10584 Middle Avenue Elyria, OH 44035 (440) 458-5165
Source:Blue Point Capital Partners, LLC