Forest Hill Partners (FHP), a Chicago-based private equity firm that typically invests in lower middle-market industrial businesses, has sold Micromatic to fellow private equity investor MITAR Private Capital. Financial terms of the deal have not been disclosed.
Micromatic, headquartered in Berne, Indiana, is a developer, manufacturer and distributor of rotary vane actuators, waste tippers and automation assembly systems that help customers around the world meet automation needs.
Since acquiring Micromatic from Textron in 2005, FHP supported the company’s growth by investing in sales and marketing strategies, strengthening the executive management team, and increasing operational efficiencies. Throughout this 19-year ownership period, Micromatic nearly tripled its revenues and earnings.
Micromatic was advised in the transaction by EO Advisors and Gould & Ratner LLP.
