GenNx360 Capital Partners Acquires Horsburgh & Scott, Inc.
NEW YORK, April 1, 2013-- GenNx360 Capital Partners, a private equity firm focused on investing in middle market industrial business-to-business companies, has acquired Horsburgh & Scott Co. ("H&S") for an undisclosed amount.
Horsburgh & Scott is a market leading custom gearing manufacturer for the global marketplace. H&S manufactures, repairs, and services highly-engineered, customer specific industrial gears and gear drives for more than 400 customers throughout the world. It is one of a few companies that is both capable of, and specializing in, the manufacturing of medium and large diameter gears (up to 25 ft. in diameter) for a variety of end markets including steel, mining, wind, rail, and sugar. Over its 126 year history, H&S has developed the in-house engineering and manufacturing capability to offer its customers increased service factors that, in many cases, can expand equipment lifecycle. This, coupled with their overall product quality, customer application specific designs and exceptional customer service provides their installed base with superior performance. H&S employs over 200 people and is headquartered in Cleveland, Ohio, with two additional facilities in Ohio and one in Canada.
"With its proven management team and talented group of engineers, strong brand, and excellent customer relationships, we are very excited about future prospects for H&S," says Monty Yort, GenNx360 Managing Partner. "We expect to build on H&S's legacy by leveraging our global C-suite relationships within the industry and executing on identified growth opportunities, both organically and through add-on acquisitions, as well as providing a valuable operating perspective to enhance an already exceptional company."
"Our goals are fully aligned with those of GenNx360. We are excited about this next step in the evolution of our company," said Christopher Kete, H&S President and Chief Executive Officer. "GenNx360 has strong operational capabilities that perfectly fit our strategic focus for the next chapter."
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on investing in industrial business-to-business companies in the middle market. It applies years of Fortune 50 operational and leadership experience to these investments to help drive growth and value creation. The firm primarily focuses on opportunities in the industrial machinery and components, oil and gas, transportation and logistics, agricultural, specialty chemicals, and aerospace sectors. GenNx360 was founded in 2006 and is headquartered in New York City, with additional offices in Seattle and Boston.
For more information about GenNx360, please visit: www.gennx360.com
About Horsburgh & Scott Co.
Horsburgh & Scott, founded in 1886, is one of the world's leading manufacturers of industrial gears and custom gear drives. With 350,000 square feet of manufacturing, repair, assembly and heat treat space, H&S can manufacture new gear components and gear boxes. It also provides teardown analysis and engineering upgrades that can expand equipment lifecycle. H&S gears and gear drives can be found in steel mills, aluminum facilities, tire and rubber plants, sugar mills, power plants, and wind turbines.
For more media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Investor Relations Manager
Tel: +1 212.257.6772
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