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Arcline Acquires Pride Engineering to Build Speciality Tooling Platform
Tuesday 13 August 2019

13 August 2019 - California, US-based private equity firm Arcline Investment Management has acquired Minnesota, US-based speciality packaging tooling manufacturer Pride Engineering, LLC from May River Capital, the company said.
Terms of the transaction were not disclosed.
Pride is anticipated to be the first of several acquisitions as Arcline builds a speciality tooling platform across numerous industries.
Arcline said it plans to work with Pride to accelerate the rollout of its newest product, SYNAPSE, that uses sensor-driven analytics to drive step-change quality and productivity improvements.
Arcline Investment Management has USD 1.5bn in capital, investing in niche, market-leading companies with primary interest areas that include industrials, technology, life sciences, and speciality chemicals. 
Pride Engineering is a leader in the design and manufacture of precision-engineered tooling, equipment, and aftermarket parts that are mission-critical to the aluminum beverage packaging manufacturing process.
The company's products generate significant return on investment for its customers by maximising quality, productivity and operational uptime.
Pride's products include tool packs, bottom formers, precision grinders, and most recently, SYNAPSE, the company's next generation internet of things solution.
Lincoln International served as financial advisor to Arcline in connection with the acquisition.
Date Published: 13/08/2019
Target: Pride Engineering, LLC
Country: USA
Sector: Machinery/Engineering
Type: LBO
Status: Closed
Vendor: May River Capital
Buyer: Arcline Investment Management
Buyer Advisor: Lincoln International
Terms of the deal were not disclosed