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Kentwood manufacturer Andronaco Industries acquired by New York PE firm COURTESY PHOTO

Kentwood manufacturer Andronaco Industries acquired by New York PE firm

BY Tuesday, January 04, 2022 04:44pm

KENTWOOD — Andronaco Industries Inc., a designer, manufacturer and distributor of fluid handling and sealing products, announced today that it has been bought by a New York City-based private equity firm.

The Kentwood-based Andronaco — which manufactures products such as pipes, valves, pumps and other flow control products — announced EagleTree Capital LP as the buyer. In its 20-plus years in business, EagleTree has completed more than 35 investments that include a focus on water and specialty industrial sectors.

Terms of the deal were undisclosed. A joint announcement made by both parties indicated that Andronaco’s management team would remain intact, including founder Ron Andronaco, who will continue on as president, CEO and board member.

“We are thrilled to partner with EagleTree, a firm known for collaborating with founder-led companies to bring their businesses to the next level,” Andronaco said in a statement. “Given EagleTree’s experience in the specialty industrial space, we are confident its team has the knowledge and expertise to help us execute on our plans for future growth and expansion.”

The vertically integrated Andronaco Industries services roughly 2,500 customers in a variety of sectors, including pharmaceutical, chemical, steel, wastewater and energy. The company maintains nine different locations, most of which are concentrated in Kentwood with additional facilities in Michigan, Texas, Louisiana and France.

“Over the last three decades, Ron and his talented team have built Andronaco into a leading provider of specialty corrosion-resistant products and a disruptor of the industrial flow control industry,” said EagleTree Senior Partner Robert Fogelson. “We have been impressed with their work and look forward to partnering to support the company’s next phase of growth.”

In 2019, Andronaco relocated its subsidiary, fiberglass pipe fittings and valve manufacturer Conley Composites LLC, from Tulsa, Okla. to West Michigan.

Read 2178 times Last modified on Tuesday, 04 January 2022 16:48