Industrial Growth Partners (IGP), a San Francisco-based private equity firm, has acquired the parent company of Des-Case Corporation for an undisclosed sum. IGP is a specialist private investment partnership with $2.2 billion in capital raised since inception that provides equity capital to industrial manufacturing companies. With a 20 year history in the industrial sector, IGP provides significant strategic and operational support to its portfolio companies and has extensive experience building global manufacturing businesses.
Des-Case was founded in 1983 when it brought the first desiccant breather to market, and now manufactures an array of specialty filtration products that improve process equipment and wind-turbine gearbox reliability, and extend lubricant life for industrial plants worldwide. The company’s solutions result in lower operating costs, environmental benefits, fewer repairs, and improved plant operations. Des-Case’s trademarked and patented solutions are marketed through an extensive global distribution network, private label distributors and OEM partners.
IGP concentrates on leading, niche manufacturers of engineered products used in critical applications and partners with those management teams to pursue strategic initiatives focused on achieving long-term shareholder value. “Des-Case brings a holistic perspective to the lubricant contamination control market by providing the education and training needed to understand the benefits of contaminant-free lubricant, and by providing innovative solutions to protect the lubricant at every critical point in its lifecycle,” said a representative from IGP. “As a market leader with a strong brand name and long-standing customer relationships with some of the world’s largest manufacturers, we are confident in Des-Case’s ability to continue to expand globally.”
Des-Case has enjoyed the benefits of being invested in by private equity since 2013, when Pfingsten Partners, L.L.C. first acquired the company. “We have enjoyed being a part of Des-Case’s growth journey the past several years and are excited for their new opportunity with IGP,” said a representative from Pfingsten. “The Des-Case story is an exceptional one and we will continue to follow their progress and see what great things are in store for them.”
“I am honored and excited to be a part of writing the next chapter in the Des-Case growth story alongside our valued customers, partners and investors,” said Brian 2 Gleason, president and CEO at Des-Case Corporation. “IGP has over two decades of experience investing in the industrial sector with a proven track record of building worldclass global businesses. We are looking forward to the partnership.” The transaction was completed on July 6, 2016. The management team retained a significant ownership stake in the company.
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