• Corporate Finance Transactions

BGL’s Metals Practice Completes the Sales of Superior Tube Company and Fine Tubes Limited

September 20 2012

Cleveland | Brown Gibbons Lang & Company (BGL) today announced the sales of Superior Tube Company, Inc., a leading U.S. manufacturer of high precision, small diameter tubing; and Fine Tubes Limited, a leading European manufacturer of high precision, small diameter tubing to private equity firm The Watermill Group. Terms of the transactions were not disclosed. BGL advised Superior Group, Inc. in the sales of the businesses and provided a fairness opinion to the board of directors.

The transactions highlight the global capabilities of BGL’s Metals Practice and are the 8th and 9th recent metals transactions completed by BGL.

Founded in 1934 and headquartered in Collegeville, Pennsylvania, Superior Tube is a leading North American manufacturer of tight tolerance, custom specification tubing from stainless steel, nickel alloys, high temperature alloys, titanium, and reactive metals that form mission critical products for industry leading customers in the growing medical, aerospace, nuclear and durable goods markets.

Incorporated in 1943 and located in Plymouth, United Kingdom, Fine Tubes is a leading European manufacturer of high precision metal tubing in stainless steel, nickel, titanium, and zirconium alloys designed for use in environments that endure extreme temperatures, pressure, dynamic stress, and corrosion, including critical‐tolerance applications in the aerospace, medical, and energy industries.

The companies have fully integrated facilities for the manufacture and research and development of high‐quality metal tubes in seamless, welded, and welded-and‐drawn forms. The companies’ long histories of success stem from their proven abilities to consistently develop and manufacture complex, high‐performance engineered tubing that meets the stringent quality requirements of the world’s most demanding applications.

Prior to the sale to Watermill, Superior Tube and Fine Tubes were portfolio companies of Superior Group, a Philadelphia-based holding company. Superior Group engaged BGL to manage the sale processes for the two businesses due to BGL’s extensive experience in the global precision metals industry and ability to effectively manage complex global transactions.

“BGL’s knowledge of the worldwide precision metals industry and relationships with key global players allowed them to identify parties that valued each company’s exceptional market position and capabilities. The team executed a highly professional and efficient sale process resulting in a successful outcome that pleased all of the parties involved in the transaction,” said Peter Gould, President of Superior Group.

“I am excited to guide Superior Tube through the next phase of the company’s storied history,” stated Tony Jost, CEO of Superior Tube. “The BGL team did a fantastic job managing a complex transaction that produced a great outcome for Superior Tube, our customers, and our employees.” Added Ronen Day, Managing Director of Fine Tubes, “Fine Tubes is poised to capture exciting growth opportunities and continue its market leading position as a global provider of high precision tubing. BGL provided exceptional transaction advice and support and identified a strong partner to support our customers and the continued growth of Fine Tubes.”

“We are pleased to assist Superior Group, Superior Tube, and Fine Tubes in achieving a strong outcome, and we believe that Watermill is an excellent partner for the companies,” commented Scott Berlin, Managing Director and Head of BGL’s Metals Practice.

Scott Berlin and Kevin Sargent led the BGL transaction team. Potters & Della Pietra LLP and Morgan, Lewis & Bockius LLP served as Superior Group, Inc.’s legal counsel.

About Brown Gibbons Lang & Company

Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in merger & acquisition advisory services, debt & equity placements, financial restructurings, and valuations & fairness opinions, with global industry teams in metals and metals processing, industrials, healthcare, consumer, business services, , and real estate. BGL has offices in Chicago, Cleveland and Salt Lake City, and Global M&A Partner offices in more than 40 countries across five continents, which allows BGL to deliver clients unparalleled access to corporations, investors, and opportunities globally. For more information, visit www.bglco.com.

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Related industry: Metals & Metals Processing
Related service: Mergers & Acquisitions

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