Industrial Growth Partners Acquires Cambridge In MBO

Industrial Growth Partners, together with management and other investors, has acquired Cambridge International, Inc. (“Cambridge”).

Headquartered in Cambridge, Maryland, Cambridge is the world’s largest manufacturer of highly-engineered metal conveyor belts and related woven metal mesh solutions. Cambridge’s belts are used in a wide variety of processing applications serving diverse end markets such as food & dairy, baking, metal working, packaging, agriculture, building products, filtration and electronics. Cambridge’s metal belts are mission-critical components in a customer’s processing application where durability, precise tracking, and the ability to withstand extreme temperatures are important. In addition to metal conveyor belts, Cambridge manufactures woven metal mesh for architectural applications such as elevator interiors, parking structures and building facades. Through Cambridge Environmental Technologies, it leverages its core competencies in mesh engineering and material handling / conveying to address end markets in pollution control, waste reduction and “green” power.

“IGP’s familiarity with Cambridge’s key end markets and the firm’s deep experience in the manufacturing sector make IGP an ideal equity partner for us,” commented Tracy Tyler, CEO of Cambridge. “The Cambridge management team is excited about the opportunity to draw upon IGP’s experience to help us grow our business internationally and to further develop new markets for our products. IGP will be an invaluable operational and strategic sounding board, and we look forward to capitalizing on the resources this new relationship provides.”

Acquisition Details. On April 10, 2012, Industrial Growth Partners IV, L.P., in partnership with management and certain outside investors, purchased the Company. The transaction structure creates a solid platform for Cambridge to accelerate its growth in its core metal conveyor belt market, expand the Company’s presence in its architectural and environmental product lines, enhance its international market position and pursue selective acquisition opportunities.

SOURCE: Industrial Growth Partners