Industrial Opportunity Partners Sells Carlson Systems Holdings, Inc.
Evanston, Ill., October 2, 2014 – Operations-focused private equity firm Industrial Opportunity Partners ("IOP") of Evanston, Ill., today announced that it has completed the sale of portfolio company Carlson Systems Holdings, Inc. ("Carlson" or the "Company"). The divestiture represents IOP's sixth investment realization from its initial $185 million committed fund. Terms of the transaction were not disclosed.
Carlson, through its two subsidiaries, Carlson Systems, LLC and Mid-Atlantic Fasteners, LLC, is a multi-regional distributor of product assembly systems serving the fastening and packaging needs of construction, industrial and OEM customers, with products such as hand-held nailers, staplers, tapers, marking and labeling products, stretch/shrink wrappers, and strappers. Carlson is headquartered in Omaha, Neb. and operates in 22 states and in parts of Mexico.
IOP Operating Principal Jim Todd served as Carlson's Chairman of the Board and provided strategic oversight from IOP’s investment in August 2009 through the sale. Mr. Todd commented, "Through the leadership and dedication of the Company's management team, led by President Todd Carlson, the Company has continuously improved its product offering and shown a consistent commitment to customer service. Through its partnerships with customers and suppliers, Carlson has achieved substantial growth over the past few years, and I believe is positioned well for the future."
Ken Tallering, a Senior Managing Director of IOP, added, "IOP's investment in Carlson was very successful, and IOP would like to thank the Carlson management team for their efforts in creating value in the business. We wish them every bit of success in continuing to grow the business in the future."
Lincoln International LLC provided investment banking services to IOP in connection with the sale transaction, while McDermott Will & Emery provided legal representation.
About Carlson Systems Holdings, Inc.
Carlson is a multi-regional distributor of product assembly systems serving the fastening and packaging needs of construction, industrial, and OEM customers, with products such as hand-held nailers, staplers, tapers, marking and labeling products, stretch/shrink wrappers, and strappers. For more information, visit Carlson's website at www.csystems.com.
About Industrial Opportunity Partners
IOP, an Evanston, Ill.-based private equity firm with $460 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $30 million and $350 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses.