GOODLETTSVILLE, Tenn. (July 6, 2016) — Industrial Growth Partners (IGP), a San Francisco-based private equity firm, today acquired the parent company of Des-Case Corporation for an undisclosed sum.
Des-Case President and CEO Brian Gleason explains the process of manufacturing fluid handling equipment to Jerry Abramson, left, deputy assistant to the President of the United States and director of intergovernmental affairs, and his entourage in a March 2015 tour of the Des-Case plant. Former Nashville Mayor Karl Dean accompanied Abramson on the tour. Des-Case has consistently been cited as an aggressive global exporter of its products.
IGP is a specialist private investment partnership with $2.2 billion in capital raised since inception that provides equity capital to industrial manufacturing companies. With a 20 year history in the industrial sector, IGP provides significant strategic and operational support to its portfolio companies and has extensive experience building global manufacturing businesses.
IGP concentrates on leading, niche manufacturers of engineered products used in critical applications and partners with those management teams to pursue strategic initiatives focused on achieving long-term shareholder value.
“Des-Case brings a holistic perspective to the lubricant contamination control market by not only providing the education and training needed to understand the benefits of contaminant-free lubricant, but also providing innovative solutions to protect the lubricant at every critical point in its lifecycle,” said a representative from IGP. “As a market leader with a strong brand name and long-standing customer relationships with some of the world’s largest manufacturers, we are confident in Des-Case’s ability to continue to expand globally.”
In an October 2015 tour, Des-Case President and CEO Brian Gleason explains to U.S. Tennessee State Representative Diane Black how a Des-Case-produced visual oil analysis glass mounted on the side of equipment helps reliability technicians better monitor lubricant quality.
Des-Case has enjoyed the benefits of being invested in by private equity since 2013, when Pfingsten Partners, L.L.C. first acquired the company. “We have enjoyed being a part of Des-Case’s growth journey the past several years and are excited for their new opportunity with IGP,” said a representative from Pfingsten. “The Des-Case story is an exceptional one and we will continue to follow their progress and see what great things are in store for them.”
Founded in 1983 when it brought the first desiccant breather to market, Des-Case now manufactures an array of specialty filtration products that improve process equipment reliability and extend lubricant life for industrial plants worldwide. The company’s solutions result in lower operating costs, environmental benefits, fewer repairs, and improved plant operations. Des-Case’s trademarked and patented solutions are marketed through an extensive global distribution network, private label distributors and OEM partners.
“I am honored and excited to be a part of writing the next chapter in the Des-Case growth story alongside our valued customers, partners and investors,” said Brian Gleason, president and CEO at Des-Case Corporation. “IGP has over two decades of experience investing in the industrial sector with a proven track record of building world-class global businesses. We are looking forward to the partnership.”
The transaction was completed on July 6, 2016. The management team retained a significant ownership stake in the company. For more information on Des-Case, visit
www.descase.com.
About Des-Case Corporation
Headquartered near Nashville, Tennessee, Des-Case Corporation manufactures specialty filtration products for industrial lubricants. Founded in 1983, the company markets a broad array of products designed to help companies make equipment investments last longer. Des-Case has worked with some of the world’s largest companies, both directly and through partners. Its trademarked and patented solutions are marketed through an extensive distribution network, private label distributors, and OEM partners. For more information, visit www.descase.comor call 615-672-8800.
About Industrial Growth Partners (IGP)
Founded in 1997, IGP is a specialist private equity firm focused exclusively in the industrial sector. With $2.2 billion of equity capital raised since inception across five funds, IGP invests in manufacturing and industrial services companies in the lower-middle market. The firm’s unique sector expertise and long history of investment experience enable it to provide significant strategic and operational support to its portfolio companies. For more information, visit www.igpequity.com.
