Behrman Capital acquires George Industries

Behrman Capital, a private equity investment firm based in New York, today announced that it has acquired George Holding, Inc., a leading designer and manufacturer of mission-critical and highly engineered components for the defense, aerospace and industrial sectors. Financial terms of the transaction were not disclosed.

Headquartered in Endicott, NY since its founding in 1954, George Industries is a recognized leader for its strong capabilities and expertise in manufacturing thermal management products which are critical to the functionality of electronic systems. The Company’s product offering includes highly engineered chassis, enclosures, heat sinks, cooling systems and other thermal management products. Core manufacturing capabilities include dip brazing, vacuum brazing, CNC machining, fabricating, welding, painting, laser cutting, mil-spec finishing and mechanical assembly. Additionally, the Company designs and manufactures close-tolerance, high-reliability components for satellites, aircraft and defense programs through its second facility in Wheeling, IL.

Grant G. Behrman, Managing Partner of Behrman Capital, said, “George Industries has an impressive reputation and is well-positioned to take advantage of the growing need for thermal management products serving high-reliability industries, particularly in the defense sector. This transaction builds upon our strong defense and aerospace industry track record, following recent acquisitions of Micross, kSARIA and previous highly successful investment in Data Device Corporation. We are very enthusiastic about our new partnership with George Industries, and we see significant potential in the next stage of the Company’s growth trajectory both through organic initiatives and select acquisitions as we build around the Company’s thermal management capabilities. We look forward to partnering with the leadership team and continue the legacy that has been built through 60 years of operations.”

Jan Mathiesen, CEO of George Industries, added, “We are excited to partner with Behrman Capital as we enter the next phase of the Company’s growth. Through their network of relationships and expanded capital base, we will build upon the many opportunities to leverage George Industries’ engineering and manufacturing expertise and blue-chip customer base to enhance the Company’s strategic position and long-term growth prospects.”

Behrman is investing in partnership with members of George Industries senior management team, which will continue to lead the Company.

Houlihan Lokey acted as exclusive financial advisor to George Industries in connection with the transaction.