Cleveland, OH – CapitalWorks LLC, a lower middle market private equity firm, announced today the sale of its portfolio company, Magna-Tech Manufacturing, to Henkel Corporation. Magna-Tech Manufacturing is the North American market leader in vacuum impregnation services, with a focus on process center capabilities. Magna-Tech will function as a subsidiary of Henkel Corporation, operating as part of its Adhesive Technologies business.
“I look forward to a joint working relationship with Henkel and the opportunities that will result from this combined business environment,” said Rob Swords, CEO of Magna-Tech.
CapitalWorks acquired Magna-Tech in 2012. The firm supported a number of strategic investments including the recent acquisition of Casting Impregnators and the launch of an operation in Mexico. Todd Martin, a Partner with CapitalWorks commented on the deal, “We are delighted to have found the ideal partner for our management team that will continue investing in the business. Our investment in Magna-Tech is a great example of a successful partnership between an outstanding management team and a sponsor backed by a powerful network.”
CapitalWorks was advised by Quarton International. Financial terms were not disclosed.