Published in Economic Development

PE-backed SurfacePrep acquires California abrasives distributor

BY MIBIZ STAFF Tuesday, May 12, 2020 03:37pm

BYRON CENTER — Private equity-backed abrasive products distributor SurfacePrep has acquired Sacramento, Calif.-based Temple Associates Inc., a distributor of loose abrasives and blast equipment. 

The deal marks the 10th strategic acquisition for Byron Center-based SurfacePrep in the last 18 months, according to a statement from CenterOak Partners LLC. The Dallas-based private equity firm formed SurfacePrep as a platform company out of its November 2018 acquisition of GNAP LLC, as MiBiz previously reported.  

Mike Currie, CEO of SurfacePrep COURTESY PHOTO

Terms of the Temple Associates deal were not disclosed. 

SurfacePrep now operates a network of 36 distribution centers, labs and production finishing sites across the U.S. and Canada. The company’s customers include local industrial firms up to major corporations in sectors as diverse as aerospace and medical implants. 

Mike Currie, CEO of SurfacePrep and formerly with GNAP, called the formation of the platform “an important milestone” in creating a “market-leading” abrasives solutions provider.  

“Our recent acquisition efforts enable us to offer significant industry expertise, geographic reach and technical capabilities to our customers and our global supply chain partners,” Currie said in a statement. 

SurfacePrep has doubled earnings before interest, taxes, depreciation and amortization (EBITDA) in the last 18 months through organic growth and acquisitions, according to CenterOak.

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