Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Sale to LTI Flexible Products
Baird served as the exclusive financial advisor to Boyd
Boyd Corporation (“Boyd”), a portfolio company of Stonebridge Partners, recently completed its sale to LTI Flexible Products (“LTI”), a portfolio company of Sentinel Capital Partners. The combined company has been named LTI BOYD, and is headquartered in Modesto, California. Financial terms of the transaction were not disclosed.
Boyd is a leading designer and manufacturer of mission-critical sealing and energy management solutions for blue-chip OEMs primarily serving the electronics, heavy truck, aerospace and medical markets. Boyd focuses on seals and gaskets that provide electromagnetic, acoustical and electrical shielding and thermal insulation.
LTI is a leading designer and manufacturer of extruded, die-cut, and molded flexible rubber and plastic sealing systems and related components. Its products are primarily used by OEMs of recreational vehicles, heavy trucks, and agriculture and construction equipment.
Stonebridge Partners is a private equity firm specializing in investments in middle market businesses in the United States and Canada. The firm typically invests in businesses with revenues between $50 million and $200 million and EBITDA between $5 million and $25 million. The firm was founded in 1986 and is based in White Plains, New York.
Sentinel Capital Partners specializes in acquiring lower middle market companies in the United States and Canada in partnership with management. Sentinel invests in established businesses with EBITDA between $7 million and $35 million. The firm was founded in 1995 and is based in New York, New York.