Sentinel Capital Partners, a private equity firm that targets industrial building products, has announced the acquisition of Boyd Corp. through its LTI Flexible Products portfolio.
Boyd is a designer and manufacturer of 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.
The combined company has been named LTI Boyd, and is headquartered in Modesto, Calif.
“The highly complementary products, end markets and geographic locations of LTI and Boyd offer a compelling rationale for combining the two companies,” said Boyd CEO Mitch Aiello, who now serves as CEO of LTI Boyd. “From a diversified, worldwide platform, we intend to leverage the synergies of the combined business and offer a one-stop solution to our expanded customer base.”
Sentinel’s Capital Partners specializes in management buyouts, purchases of family businesses, recapitalizations, corporate divestitures and going-private transactions of established businesses with EBITDA between $7 million and $35 million. In the industrial manufacturing sector, its current and previous investments include Chase Doors (specialty door systems); Chromalox (electric heating products); Engineered Controls International (regulators and valves for cryogenic gas containment); Alemite (lubrication equipment); Fasloc (roof support systems for underground mines); and Trussbilt (steel security products for prisons).