Manoir Industries SA ("Manoir"), a designer and manufacturer of
highly-engineered specialty metal components and assemblies for the
aerospace, petrochemical, energy, steel, and defence industries, today
announced that it has acquired Hi-Tech Fabrication Ltd. ("Hi-Tech"), a
niche provider of welded assemblies in heat resistant and corrosion
resistant steels and alloys for the petrochemical, oil and gas, and
power industries. Hi-Tech, which is located in Burton on Trent,
Staffordshire and is ISO 9001:2000 approved, specialises in high
temperature and high pressure furnace tubes and components. Terms of
the acquisition were not disclosed.
Manoir, which is an affiliated portfolio company of Sun Capital
Partners, Inc. ("Sun Capital"), a leading U.S.-based private
investment firm specializing in leveraged buyouts and investments in
market-leading companies, has nine manufacturing facilities (eight in
France and one in Belgium), two joint ventures in China, two
joint-ventures in India, and employs over 3,000 employees.
Philippe Royer, President and CEO, Manoir Industries SA,
commented, "We are very pleased to augment our global fabrication
network through the acquisition of Hi-Tech Fabrication, under the
leadership of its Founder and CEO, Steve Strama, a supplier of many
years standing. This transaction re-enforces our ongoing efforts to
develop welding capabilities in many parts of the globe which will
allow us to offer our customers a broader range of furnace components,
thereby effecting operational improvements given the geographic
proximity to our customer base, and to pursue new sales and marketing
opportunities."
Steve Strama, President and CEO, Hi-Tech Fabrication Ltd., added,
"I am very pleased to have joined Manoir Industries at this exciting
point in its evolution. With the support of a larger operating
partner, Hi-Tech will have the capability to expand its business while
maintaining superlative customer service. I am looking forward to the
challenge."
Nathaniel J. Meyohas, Vice President, Sun European Partners, LLP,
stated, "Our affiliate, Sun Capital Partners, is delighted to support
Manoir in strengthening its value proposition in its niche industry
segments though the acquisition of Hi-Tech Fabrication and other such
companies that might be suitable growth partners."
About Sun European Partners, LLP
Sun European Partners, LLP is the European adviser to Sun Capital
Partners, Inc., a leading U.S.-based investment firm focused on
leveraged buyouts, equity, debt, and other investments in
market-leading companies that can benefit from its in-house operating
professionals and experience. Sun Capital affiliates have invested in
and managed more than 190 companies worldwide since Sun Capital´s
inception in 1995 in the United States, with combined sales in excess
of EUR 25.7 billion (US $35 billion). Sun Capital has built up a
strong expertise in the retail sector with its current portfolio
comprising 17 retail investments. For more information, please visit
www.SunEuropeanPartners.com.
