2013-02-12 13:27:04 -
WYANDOTTE, MI -- (Marketwire) -- 02/12/13 --
Mercury Manufacturing Company, based in Wyandotte, Michigan, announced today that it has been acquired by O2 Investment Partners, LLC, a Midwest-based private equity firm located in Bloomfield Hills, Michigan. Terms of the deal were not disclosed. Mercury Manufacturing Company is a specialty valve manufacturer and supplier of mechanical assemblies to the AC (Air Conditioning)/Refrigeration, Automotive and Heavy Truck industries.
"We looked far and wide to find a partner that shared our same values and strategic vision for Mercury. O2 is a great fit for us and we look forward to working with them to further grow the business while continuing to provide the highest level of service to our existing blue chip customer base," said Janice Wiegand, President of Mercury Manufacturing Company.
Founded in 1964, Mercury has developed superior expertise and established a niche position in the manufacture of specialty valves and mechanical assemblies for the AC/Refrigeration, Automotive and Heavy Truck industries. In addition, the Company's ability to design its own automated assembly and test equipment has given it a strong competitive advantage in cost-effectively manufacturing its products at volumes required by customers. The Company manufactures a variety of custom valves and various mechanical assemblies for the AC/Refrigeration, Automotive and Heavy Truck industry. Mercury currently employs 63 people and supplies its products to a worldwide customer base.
Jay Hansen, President of O2 Investment Partners, added, "We are very pleased with our investment in Mercury and its employees. The vision that Jan Wiegand and the management team have developed for this business is truly exciting and we look forward to supporting the Mercury team in achieving their plan. We believe that Mercury has the right combination of a talented and experienced workforce, efficient engineering and manufacturing processes, blue chip customer base, and diversified market opportunities to be extremely competitive in the specialty valve market, which we expect to present significant growth opportunities in the years ahead. We also view Mercury as an exciting platform for developing or acquiring additional businesses in the high-precision machining and specialty valve sector that serve other industries and are actively seeking add-on acquisitions. With this team and the support of our financial partner, Comerica Bank, we are very optimistic about realizing these growth opportunities."
About O2 Investment Partners:
O2 Investment Partners is a Midwestern private equity firm that seeks to acquire a majority interest in small and middle market manufacturing, niche distribution, and select service and technology businesses. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value.
O2 invests equity on behalf of its principals as well as a core network of other limited partners and strategic investors. The firm invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management.
About Mercury Manufacturing Company:
Mercury Manufacturing Company designs, develops and manufactures custom precision valves and light mechanical assemblies for the AC/Refrigeration, Automotive and Heavy Truck industries. Mercury engineers and manufactures a variety of check valves, pressure relief valves, solenoid valves, quick adjust mechanisms for manual clutches, hydraulic shaft assemblies and a variety of other specialty valves, machined components and mechanical assemblies for a worldwide customer base. The company was founded in 1964 and is based in Wyandotte, Michigan.
Additional information is available at www.o2investment.com : ctt.marketwire.com/?release=984326&id=2599321&type=1& ..
and www.mercurymfg.com : ctt.marketwire.com/?release=984326&id=2599324&type=1& ..
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O2 Investment Partners