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Ideal Tridon Closes Acquisition of US Manufacturer ZSi Foster
Monday 08 July 2019

8 July 2019 - US-based stainless steel and specialty clamps manufacturer Ideal Tridon Holdings, Inc has completed the acquisition of US-based manufacturer ZSi-Foster Acquisition Corp. from Pfingsten Partners, the company said.
Terms of the transaction were not disclosed.
Headquartered in Canton, Michigan, ZSi-Foster is a specialty manufacturer and supplier of pipe, hose and conduit support and fastening solutions including clamps, strut and strut fittings, and hydraulic and pneumatic hose fittings, across a range of end markets.
Combining Ideal Tridon's broad portfolio of specialty clamp and fitting products with ZSi-Foster will allow both companies to bring more solutions to their customers, delivered with the highest level of service, engineering support and quality.
The ZSi-Foster management team will continue to hold key positions within the combined company to further ensure that Ideal Tridon continues to meet and exceed the needs of its customers.
Ideal Tridon is a global engineering solutions designer and manufacturer of stainless steel and specialty clamps for a broad range of fastening and sealing applications across diverse end markets.
Headquartered in Canton, Michigan, ZSi-Foster is a market-leading manufacturer and supplier of highly engineered, mission-critical clamping and coupling devices and strut housing products.
The company's products are found in demanding environments across diversified end markets, including general industrial, fluid power, HVAC, refrigeration and electrical markets.
Snow Phipps is a private equity firm focused on lower middle-market control investments with USD 2.4bn of total capital commitments raised since its founding in 2005.
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering.
Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately USD 1.3bn and has acquired 137 manufacturing, distribution and business services companies.
Weil Gotshal and Manges LLP served as legal counsel to Snow Phipps in the transaction. Lincoln International LLC and BlackArch Partners, LLC served as financial advisors to Ideal Tridon and ZSi-Foster, respectively.
Date Published: 08/07/2019
Target: ZSi-Foster Acquisition Corp
Country: USA
Sector: Machinery/Engineering
Type: LBO
Status: Closed
Vendor: Pfingsten Partners
Buyer: Ideal Tridon Holdings
Buyer Advisor: Weil Gotshal and Manges , Snow Phipps , Lincoln International
Terms of the deal were not disclosed