Lazard Middle Market Advised O'Brien Corporation
in its Sale to Industrial Growth Partners

 

TRANSACTION DESCRIPTION

Lazard Middle Market advised O’Brien Corporation in its sale to Industrial Growth Partners, members of the O’Brien management team and certain outside investors. O'Brien is a manufacturer of industrial tubing and equipment enclosures used in analytical, instrumentation and mechanical applications in a variety of different industries.

 

TRANSACTION HIGHLIGHTS

Industrial Growth Partners (IGP), in partnership with members of O’Brien’s management team and certain outside investors, have purchased a controlling interest in the company.  The transaction creates a solid platform for O’Brien to accelerate its domestic and international growth, enter new end markets and pursue selective acquisition opportunities. The acquisition fits ideally with IGP’s strategy of investing in niche industrial companies with leading market shares and outstanding management teams.

“IGP’s familiarity with O’Brien’s key end markets and the firm’s deep experience in the manufacturing sector made IGP an ideal equity partner for us,” noted Dave Smith, President of O’Brien.  “The O’Brien management team is very excited about the opportunity to leverage IGP’s experience to help grow our business internationally and to develop new markets for our products.  IGP will be an invaluable operational and strategic sounding board, and we look forward to capitalizing on the resources this new relationship provides.”

THE SELLER

O’Brien Corporation (www.obcorp.com), headquartered in St. Louis, Missouri, is a leading manufacturer of industrial tubing and equipment enclosures used in analytical, instrumentation and mechanical applications in a variety of different industries.  The company’s primary product line consists of engineered tubing bundles, which transport and preserve the consistency of fluids used by analyzers or instruments to monitor process integrity, optimize efficiency and ensure compliance with environmental regulations.  O’Brien’s enclosure products are designed to protect different probes, analyzers and instruments from natural elements, corrosion and harsh operating conditions.  The company also manufactures electro-polished high purity tubing—sold under the Cardinal® brand—used for fluid delivery in tight tolerance manufacturing processes.  With its deep engineering and design expertise, O’Brien supplies both standard and custom-designed solutions to applications across some of the world’s largest end segments, including the refining, petrochemical, power generation, pharmaceutical and semiconductor markets.

THE BUYER

Industrial Growth Partners (www.igpequity.com), founded in 1997, is a San Francisco-based private equity investment firm with $825 million in capital under management. The firm invests exclusively in middle-market companies in the manufacturing sector in partnership with management.

ABOUT LAZARD MIDDLE MARKET

Lazard Middle Market LLC (www.lazardmm.com), a subsidiary of Lazard Ltd (NYSE:LAZ), provides advice on mergers and acquisitions, restructuring, and financings to the middle market. Lazard Middle Market’s investment bankers operate from offices in Minneapolis, New York, Chicago, Charlotte and Los Angeles with full access to the industry expertise, senior board-level relationships, and local perspectives of Lazard’s bankers in 40 cities across 24 countries in North America, Europe, Asia, Australia, Central and South America.

 

 

If you would like more information about this transaction, please contact:

 

Steve Beck
steve.beck@lazardmm.com
612-339-0500