U.S. Bank, Comerica, Others Finance Crown Group Acquisition
High Road Capital Partners announced its portfolio company, The Crown Group, completed the acquisition of Electra-Finish (EFI). U.S. Bank, Comerica Bank, Johnson Bank and Babson Capital Management provided financing.
The transaction represents the first add-on acquisition The Crown Group has completed under High Road’s ownership.
“The acquisition of Electra-Finish expands The Crown Group’s product offerings to include high-end plastic coating solutions. It is a perfect complement to the high-end metal coating solutions for which Crown is renowned,” said William Connell, partner at High Road. “In addition to expanding Crown’s footprint in the southeastern United States, an area which continues to see growing automotive industry investment, Electra-Finish also expands Crown’s already impressive customer base.”
Dane Ball, founder and president of Electra-Finish said, “We are excited about joining the Crown platform and offering a wider range of products and services and resources to both our customers and Crown’s. It is a powerful combination that best positions Electra-Finish for continued success.”
“The acquisition of Electra-Finish marks a significant expansion in Crown’s business. Dane Ball and his team have done an exceptional job building a best-in-class company and we very much look forward to working with the EFI team to continue growing the combined business,” noted Frank Knoth, president and CEO of The Crown Group.
The Crown Group’s acquisition of Electra-Finish closed on November 1, 2013.
William Connell, partner, and Dan Gaspar, principal, led the transaction for High Road. Also working on the transaction from High Road was Bill Hobbs. McGuireWoods Capital Group advised the sellers.
Electra-Finish Inc., founded in 1999, provides high-quality plastic coating services and solutions to the automotive, agricultural, heavy truck and other industrial markets.