Andronaco Industries, a vertically integrated designer, manufacturer, and distributor of high-performance and specialty polymer and composite-engineered, corrosion-resistant flow control based in Kentwood (south of Grand Rapids), has been acquired by New York City private equity firm EagleTree Capital.
Terms of the transaction were not disclosed.
“We are thrilled to partner with EagleTree, a firm known for collaborating with founder-led companies to bring their businesses to the next level,” says Ron Andronaco, president, CEO, and founder of Andronaco Industries. “Given EagleTree’s experience in the specialty industrial space, we are confident its team has the knowledge and expertise to help us execute on our plans for future growth and expansion.”
Andronaco manufactures pipes, valves, hoses, pumps, and other flow control products for applications that require corrosion resistant properties for end customers in chemical, utilities, water and wastewater, energy, and other diversified industrial end markets.
It serves more than 2,500 customers, primarily through its global network of distribution partners.
Andronaco Industries’ management team will remain unchanged, with Andronaco continuing to lead the company as CEO, remaining as a shareholder, and serving as a board member. The company operates nine global locations in Michigan, Texas, Louisiana, and France.
“Over the last three decades, Ron and his talented team have built Andronaco into a leading provider of specialty corrosion-resistant products and a disruptor of the industrial flow control industry,” says Robert Fogelson, senior partner at EagleTree. “We have been impressed with their work and look forward to partnering to support the company’s next phase of growth.”
EagleTree Capital is a middle-market private equity firm that has completed more than 35 private equity investments and more than 75 add-on transactions over the past 20 years. EagleTree primarily invests in North America in the media, business services, consumer, water, and specialty industrial sectors.