CLEVELAND, OH (January 4, 2019) – Blue Point Capital Partners announced today that it has sold its interest in Alco Manufacturing Corporation, LLC (“Alco”). Alco was a portfolio company in Blue Point II, which is the Firm’s 2006 vintage middle-market buyout fund. Sale terms were not disclosed.
“Blue Point set out to create a solid platform investment in partnership with a strong, local management team in a sector where we have experience and operational expertise,” said Sean Ward, a Partner with Blue Point. “We were privileged to work alongside metals industry veteran Bill Kowal and this incredible management team to help lead Alco into its next phase of growth.”
While partnered with Blue Point, Alco doubled its earnings, greenfielded two facilities and completed two add-on acquisitions. These efforts expanded the Company’s engineering and manufacturing capabilities, broadened its domestic footprint, captured new end markets and strengthened both customer and vendor relationships.
“The support and resources provided by Blue Point accelerated our growth and allowed us to be a dominant leader in the metal components industry,” said DJ Mumma, President of Alco. “We are extremely pleased with the results attained while partnered with Blue Point and look forward to pursuing additional value opportunities alongside our new partner.”
Alco, headquartered in Elyria, Ohio, is the largest independent manufacturer of precision turned unleaded steel, brass and aluminum couplings and fittings and maintains a significant market share with many of the largest North American hydraulic equipment companies. Alco’s products are utilized as both OEM and replacement products in a diverse range of end markets, including agriculture, construction, industrial production, oil & gas exploration, forestry, mining, utility and material handling equipment.
Blue Point Capital Partners is a private equity firm managing over $1.5 billion 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 a global organization. The Blue Point partner group has a 20-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 businesses that generate between $20 million and $300 million in revenue.
For more information, contact:
BLUE POINT CAPITAL PARTNERS
Partner
127 Public Square, Suite 5100
Cleveland, OH 44114
(216) 535-4705
ALCO
DJ Mumma
President
10584 Middle Avenue
Elyria, OH 44035
(440) 458-5165