Deal Details

ICG Acquires Seaway

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Summary

About

ICG provides flexible capital solutions to help companies develop and grow. The Company is a leading global alternative asset manager with over 30 years’ history, managing $71bn of assets and investing across the capital structure. ICG operates across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit. ICG develops long-term relationships with its business partners to deliver value for shareholders, clients and employees, and uses its position of influence to benefit the environment and society. The Company is committed to being a net zero asset manager across its operations and relevant investments by 2040. ICG is headquartered in London, the United Kingdom.

Seaway was founded in 1984 and has grown to become a full-service partner to over 400 customers across a range of end markets, with the majority of revenue generated by the medical device and healthcare segments. Seaway provides component manufacturing, design for manufacturing, and post-manufacturing services, with expertise in complex, low-to-mid volume production. Seaway was acquired by Tonka Bay Equity Partners in 2015, and acquired Wright Engineered Plastics in 2020 to further bolster its product capabilities and geographic reach. Seaway is headquartered in Port Richey, Florida and operates 3 facilities across California and Florida.

Tonka Bay is a private equity firm that acquires and invests in growth-oriented businesses in the highly-engineered manufacturing, business services and value-added distribution sectors. Tonka Bay is headquartered in Minneapolis, Minnesota.

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