Harris Williams Advises Sterling in Cambridge International Sale
Harris Williams & Co. announced the sale of Cambridge International, Inc. a manufacturer of custom-built conveyor belts and related woven metal mesh solutions, to Industrial Growth Partners (IGP). Cambridge was a portfolio company of Sterling Investment Partners.
The transaction closed on April 10, 2012 and was led by Derek Lewis, John Klim and Ben Ross from the firm’s Richmond office, along with Bill Roman from the firm’s Boston office. Harris Williams & Co. acted as the exclusive advisor to Cambridge.
“For the last 100 years, Cambridge has been an innovator and market leader in delivering woven metal mesh solutions to a broad array of industrial, architectural and environmental customers around the world. We look forward to following the continued success of the business as it grows and expands upon the strong foundation it has built over the last century,” said Derek Lewis, a managing director at Harris Williams & Co.
With a heritage that dates back to 1911, Cambridge is comprised of three divisions, Cambridge Engineered Solutions, Cambridge Architectural and Cambridge Environmental Technologies. Based on Maryland’s Eastern Shore, with five manufacturing locations around the world, the company is recognized as a pioneer in engineering and manufacturing, supporting a diverse array of industries. Cambridge is actively growing and expanding as it continues to develop innovative product solutions to serve its customers.
Sterling is a private equity firm specializing in leveraged acquisitions and recapitalizations of high-potential businesses in the middle market.
IGP, founded in 1997, is a private equity investment firm with over $1.3 billion in capital under management. The firm invests exclusively in middle-market companies in the manufacturing sector in partnership with management.
Harris Williams & Co. is a middle-market investment bank focused on the advisory needs of clients worldwide.