Flow Control Holdings ("FCH"), a portfolio company of Audax Private Equity and leading provider of sanitary flow components to producers of foods, beverages and pharmaceuticals, announced today the acquisition of Andron Stainless ("Andron"), a provider of sanitary stainless steel fittings, valves, tubing and accessories based in Columbia, SC, and Mississauga, ON.
CINCINNATI, Jan. 23, 2023 /PRNewswire-PRWeb/ -- Flow Control Holdings ("FCH"), a portfolio company of Audax Private Equity and leading provider of sanitary flow components to producers of foods, beverages and pharmaceuticals, announced today the acquisition of Andron Stainless ("Andron"), a provider of sanitary stainless steel fittings, valves, tubing and accessories based in Columbia, SC, and Mississauga, ON. The deal includes Andron Stainless Ltd., comprised of the company's Canadian operations, and Andron Stainless Corp., based in the U.S.
"We are excited to welcome Andron to the FCH family," said Scott Kerns, CEO of Flow Control Holdings. "This acquisition further expands our presence and capabilities in the food, beverage and pharmaceutical markets that we serve. We are particularly excited about Andron's competency in machining and fabricating stainless steel components and assemblies for sanitary applications."
"We look forward to partnering with the FCH team to accelerate our growth and expand product offerings to our valued customers," added Tank LoPresti, President Andron Stainless Corp.
Andron will continue to operate locations in Columbia, SC and Mississauga, ON, Canada. The addition of Andron is aligned to FCH's goal to grow its product portfolio of sanitary flow components and provide industry-leading service levels to customers as its portfolio expands. Through expanding its presence in Canada and the Southeastern U.S., the addition of Andron will complement FCH's existing footprint and enable the combined company to better service the customer base and simplify the fulfillment of their sanitary product needs. Beyond the expanded product set and geographic reach, Andron's manufacturing capabilities represent a natural fit with FCH's Steel & O'Brien business unit.
"Pairing Andron with Steel & O'Brien's ISO-certified, 200,000 sq. ft. manufacturing facility gives us the capability and capacity to make custom products with factory fit, function, and finish in multiple locations," added Kerns. "We believe this deal creates a unique value proposition for FCH within the sanitary flow components market and positions us to provide a truly differentiated offering to our customers."
Don Bramley, Managing Director at Audax Private Equity, noted, "Andron allows FCH to expand into Canada and grow its product portfolio, which will drive meaningful future growth. We are excited to have Andron as part of the FCH family."
"The acquisition of Andron represents the third add-on since our initial investment last year," added Audax Private Equity Managing Director Ryan Bruehlmann. "Not only does the combination represent a compelling fit, but we believe the addition of Andron should add tremendous business momentum that complements the team's organic growth initiatives."
ABOUT FLOW CONTROL HOLDINGS:
Founded in 2018, Flow Control Holdings specializes in providing highly engineered sanitary and high purity flow components for market-critical applications within the food, beverage, and pharmaceutical industries. For more information, visit the FCH website, at http://www.flowcontrolholdings.com.
ABOUT AUDAX PRIVATE EQUITY:
Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco and London. Since its founding in 1999, the firm has raised over $32 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $9 billion in more than 150 platforms and over 1,100 add-on companies, and is currently investing in add-ons out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 360 employees and over 150 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website, at http://www.audaxprivateequity.com.
CONTACTS:
Todd Starr
Chief Growth Officer
Flow Control Holdings
[email protected]
269-208-8318
SOURCE Flow Control Holdings
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