SAUGATUCK CAPITAL COMPANY ANNOUNCES EXOCOR LTD. ADD-ON ACQUISITION
Wilton, CT – September 2012. Saugatuck Capital Company (“Saugatuck”) is pleased to announce the acquisition of Controlled Products Group (“CPG”), a division of Special Metals Corporation, through its portfolio company, Exocor Ltd. (“Exocor”). Saugatuck advised Exocor on the transaction and provided equity capital through its investment vehicle Saugatuck Capital Company VI LLC, alongside management of Exocor and CPG, to acquire the stock of CPG. CPG will operate as a wholly-owned subsidiary of Exocor. Royal Bank of Canada, Roynat Capital and NorthSpring Capital Partners provided debt financing for the transaction.
CPG, located in Ontario, Canada, is a value-added distributor providing high quality welding consumables to the industry for over 20 years. CPG assists its customers by providing a high level of technical support including filler metal recommendations and solutions to complex challenges. CPG was founded to address the individual differences between welding with higher alloys versus steel, and to provide a supply chain for the world’s most reputable manufacturers. CPG supplies expertise and materials to a number of industry segments including nuclear, petrochemical, hydroelectric, and food processing to name a few.
Established in 1997, Exocor is Canada’s leading solution-seller of high performance welding filler metals used for fabrication, repair and refurbishment across a diverse group of heavy industries including oil and gas, power generation and infrastructure. Products include electrodes, wires, fluxes, strip and consumable inserts needed to create high performance welds required by demanding environments. Exocor has built its reputation based on a superior product line, industry leading technical knowledge and superior support. Exocor has four locations across Canada and serves the U.S. market.
Founded in 1982, Saugatuck Capital Company is a long-established private investment firm committed to recapitalizations and leveraged buy-outs in the lower, middle market. Sourcing investment opportunities through an unparalleled set of contacts, Saugatuck has invested in profitable, well-established, service-intensive businesses where it has the requisite experience to drive portfolio company performance improvements. The Firm has been dedicated to a philosophy of hands-on value creation in which exceptional management teams, in partnership with Saugatuck’s capital and expertise, build companies of outstanding value.