SAN FRANCISCO, Sept. 6, 2018 /PRNewswire/ -- Genstar
Capital, a leading private equity firm focused on investments in
targeted segments of the industrial technology, healthcare,
financial services, and software industries, today announced that
it has completed the sale of Boyd Corporation, a global leader in
thermal management and environmental sealing solutions, to
affiliates of Goldman Sachs (NYSE: GS).
Headquartered in Pleasanton,
CA, Boyd Corporation is a market leading designer and
manufacturer of highly-engineered, specialty material-based thermal
management and environment sealing solutions that ensure the energy
efficiency, durability, safety, and performance of numerous
technology applications around the world. Boyd's product
offering serves a diverse set of end markets, including mobile
computing, consumer and enterprise electronics, transportation,
data storage, medical, and aerospace end markets.
Genstar invested in 2015 and since then the company's revenue
and EBITDA have increased dramatically following transformative
acquisitions that added more complex and advanced thermal
management solutions to Boyd's platform, expanding Boyd's presence
in new and existing end markets as well as substantial organic
growth leveraging Boyd's industry leading capabilities.
Genstar also utilized its talent management expertise resident
within the firm to significantly strengthen Boyd's senior
management team.
Rob Rutledge, Managing Director,
said, "This was a classic Genstar transaction that combined the
talents of our investment team and strategic advisory board
industry advisors in partnership with management to fully realize
Boyd's inherent strengths. Strategic investments and
acquisitions significantly expanded Boyd's addressable market,
enhanced the Company's technical leadership and provided more
resources under a great team to drive superior performance and
execution. The extraordinary value created for investors was
the result of a strategic vision and focus on growth that was well
executed by both of our organizations to achieve an outstanding
result."
Mitch Aiello, President and Chief
Executive Officer of Boyd, "From the moment we began our working
partnership with Genstar, they have been instrumental to the growth
of our company. Their hands-on engagement and the
knowledge their team and strategic advisors brought enabled us to
relatively quickly transform the business and leverage our material
and thermal management solutions into the world's fastest growing
technologies. We could not be happier with our relationship
with Genstar and this great outcome as a result of their
involvement."
Genstar invests in companies that manufacture products and
deliver services that meet complex engineering requirements via
differentiated technology, applications, capabilities or
scale. Current and former companies as part of its Industrial
Technology vertical include Pretium Packaging, Tekni-Plex, Sphera,
Tecomet, Infinite Electronics, BBB Industries, Altra Industrial
Motion, Power Products and MW Industries.
About Boyd Corporation
Boyd Corporation is a global provider of thermal management and
environmental sealing solutions critical to products that keep
the world running. The company operates in markets around the world
with specific expertise in engineering and design, manufacturing
and supply chain management and commits to proactive customer
satisfaction across electronics, mobile computing, medical
technology, transportation, aerospace and other B2B and
consumer-critical industries. Boyd Corporation: One Company, Many
Solutions. Visit us at www.boydcorp.com.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm
that has been actively investing in high quality companies for 30
years. Based in San
Francisco, Genstar works in partnership with its management
teams and its network of strategic advisors to transform its
portfolio companies into industry-leading businesses. Genstar
currently has approximately $10
billion of assets under management and targets investments
focused on targeted segments of the industrial technology,
healthcare, financial services, and software industries.
Contact: Chris
Tofalli
Chris Tofalli Public Relations
914-834-4334
View original content with
multimedia:http://www.prnewswire.com/news-releases/genstar-capital-completes-sale-of-boyd-corporation-300708281.html
SOURCE Genstar Capital