Stonebridge Partners completed its acquisition of Attica Hydraulic Exchange, a company that specializes in rebuilding and repairing hydraulic components including pumps, motors, valves and electronic fluid controls, which are used for the maintenance and repair of in-plant and mobile machinery and equipment. Attica is the third equity investment made by Stonebridge Partners Equity Fund IV, L.P.
Attica also provides value-added distribution of aftermarket hydraulic components. Stonebridge is partnering with industry executive, Shirish Pareek, who will be the CEO of a new holding company called Hydraulex International, which intends to acquire complementary hydraulics companies to augment the Attica platform company. Mr. Pareek said, “We have formed Hydraulex International with the objective of becoming the premier worldwide remanufacturer and distributor of all major makes and brands of quality hydraulic pumps, motors, valves/servo, and cylinders for a vast variety of industrial, mobile, mining, and oil-field applications.”
Under terms of the deal, Attica’s top management team will stay in place. William Wildner, Jr., will remain as Attica’s president. PK Guha will oversee all sales and marketing activities. Cathy Ayers will continue to be the vice president of operations and Sam Caruso has been promoted to vice president of materials management.
Stonebridge has invested over $820 million of equity in approximately 51 acquisitions and is currently investing through Stonebridge Partners Equity Fund IV, L.P. which closed in July 2008. Stonebridge primarily focuses on value-added manufacturing companies, specifically in the packaging, infrastructure, building products, and specialty manufacturing industries.
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