CLEVELAND, O.H. / June 6, 2024 / Blue Point Capital Partners and its portfolio company Sylvan are pleased to announce the addition of Anchor Conveyor Products, a prominent engineering and fabrication contractor focused on industrial conveyor systems, to the growing Sylvan platform.
As a turnkey contractor for over one hundred years to some of the nation’s largest industrial facilities, Anchor helps expand Sylvan’s in-house fabrication capabilities and supports its delivery of all-in-one, multi-trade services to its customers.
“Over the years, the Sylvan team has deliberately advanced the platform toward its mission of providing a market-leading portfolio of comprehensive services to a diverse set of customers,” said Sylvan CEO Rob Metz. “With the additional capabilities of Anchor, Sylvan’s Conveyor Group is a powerhouse providing a wide range of customized solutions as our platform continues to grow.”
Since Sylvan partnered with Blue Point in 2018, the platform has completed multiple operational enhancements, including adding key personnel and implementing a new ERP system to drive efficiency and data-driven decision-making to support continued growth. Recognizing the opportunity to deepen its market position through geographic expansion and strategic M&A, Sylvan previously acquired Great Lakes Mechanical in 2021, adding additional HVAC and commercial building services and sheet metal fabrication capabilities. Furthermore, Sylvan has executed successful greenfield initiatives in several new geographies, including the recent addition of a Phoenix, Arizona office.
“Growing Sylvan’s depth and breadth of capabilities through organic and M&A efforts has been a strategic focus since the start of our partnership,” said Blue Point Partner Jonathan Pressnell. “We have made investments in the platform from the beginning of our ownership, and we’re seeing the compounding effect of those efforts on the business’s growth. Blue Point continues to be enthusiastic about the opportunities ahead for Sylvan.”
Anchor Conveyor Products is a family-owned business dedicated to its reputation as an industry leader in conveyor systems and conveyor component design. Since 1925, Anchor Conveyor Products has been a pioneer in power-free technology and design, monorails and chain on edge. Anchor has developed the standards to accelerate to the forefront in the industry as an OE conveyor manufacturer and is one of the industry’s premier sources for all component parts related to conveyor maintenance and operations.
Sylvan Group is one of North America’s leading providers of industrial pipe installation and fabrication, millwright and rigging, electrical, boiler and turbine contracting services. The Company provides full industrial project support, including design, planning, installation, maintenance and repair services to a diversified portfolio of customers. Sylvan's broad range of end markets includes automotive, energy, government, education, consumer products, water treatment, material handling, food and pharmaceutical, among others.
Blue Point Capital Partners is a private equity firm managing over $1.8 billion in committed capital. With resources in Cleveland, Charlotte and Seattle, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower middle-market businesses to build processes and capabilities to achieve growth. Blue Point’s portfolio is supported by its unique capabilities — which include an integrative team focused on innovative global supply chain, data and digital and human capital strategies — as well as its extensive experience, network of industry resources and focused M&A efforts. Blue Point typically invests in businesses that generate between $30 million and $300 million in revenue.
For more information, contact:
Blue Point Capital Partners
Megan Kneipp
Managing Director, Business Development
Johnathan Pressnell
Partner
Note: Certain statements about Blue Point Capital Partners made by portfolio company executives herein are intended to illustrate Blue Point Capital Partners’ business relationship with such persons, including with respect to Blue Point Capital Partners’ facilities as a business partner, rather than Blue Point Capital Partners’ capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in Blue Point Capital Partners-sponsored vehicles.