Behrman Capital, a private equity investment firm based in New York and San Francisco, has sold its portfolio company ILC Dover to New Mountain Capital. Financial terms of the transaction have not been disclosed.Founded in 1947, ILC Dover designs and manufactures a broad range of innovative, highly engineered products utilising high-performance flexible materials. The Company has a more than seventy-year heritage of innovation, and commitment to expanding its product portfolio of mission-critical applications to end use cases including single-use pharmaceutical and biopharmaceutical production, personal safety, industrial packaging, infrastructure protection and a range of solutions for human space flight. The Company serves its global customer base today across six facilities located in North America, Europe and Asia.
Grant G. Behrman, Managing Partner of Behrman Capital, says: “ILC Dover is a leader in its markets, and we are very proud to have played an important role in its success during our investment period. Under our ownership, the company completed several strategic acquisitions, launched innovative products and entered new markets, among other important growth initiatives. Fran DiNuzzo and his management team have done an excellent job leading the company and positioning it with an exceptional runway for innovation and growth. We are very confident that ILC Dover will continue to thrive under Fran’s leadership as they move on to the next exciting chapter.”
Fran DiNuzzo, President and CEO of ILC Dover, says: “Behrman has been a terrific partner to us over the years and provided expertise and strategic resources that were instrumental in achieving our shared objectives. We are grateful for their support as we have pursued our long-term strategy to be the leading innovative, materials science-based solutions provider.”
Houlihan Lokey served as exclusive financial advisor and Latham & Watkins LLP served as legal counsel to ILC Dover.
