Sky Island Capital, a Dallas-based middle-market private equity firm, has acquired majority control of Material Sciences Corp. in Canton Township, which produces advanced materials and specialty coated metals that are engineered to address light weighting; noise, vibration, and harshness; corrosion; architectural; and aesthetic needs.
“Bringing in the Sky Island team will allow us to be more aggressive with add-on acquisitions and continue to grow the company,” says Pat Murley, CEO of Material Sciences. “We have worked with several of the Sky Island team members in the past where we had tremendous success growing the business through add-on acquisitions. We are excited to work with them again to reinvigorate those efforts.”
Material Sciences serves the transportation, building products, packaging, and consumer goods markets. It has production facilities in Illinois, Indiana, Ohio, and Canada.
“As we looked for our first deal at Sky Island, we could not pass up on the opportunity to work with such a talented team and quality company that we are deeply familiar with from our prior management of the company,” says Jack Waterstreet, managing partner of Sky Island. “MSC has had spectacular historical performance, but we firmly believe that its best days are ahead given several organic and add-on acquisition growth opportunities.”