expanded metal

Transaction Experiences

Cambridge International, Inc. Acquired By Sterling Investment Partners, L.P.

Cambridge

Cambridge International, Inc. is the North American market leader in metal conveyor belts, which are custom-designed consumable products used in manufacturing processing applications where durability, precise tracking, and the ability to withstand extreme temperatures are important.  The Company’s products are utilized in diverse end-markets, including food processing (baking, snacks and beverages), packaging, electronics, building products, agriculture, and industrial applications. The Company is also a market leader in manufacturing wire cloth for liquid processing and architectural mesh for commercial construction and design.

Sterling

Sterling, headquartered in Westport, Connecticut, has committed capital exceeding $800 million.  Sterling invests in companies with significant competitive strengths and growth potential.  Founded in 1991, Sterling has completed investments, strategic or add-on acquisitions, and liquidity events with an aggregate transaction value of approximately $4.7 billion, representing over 50 companies. Sterling maintains a broad industry focus, including business services and outsourcing, niche manufacturing, transportation and logistics, and technology-related businesses.

Cambridge International, Inc., the leading manufacturer of engineered metal conveyor belts, announced that it has been recapitalized with a majority equity investment led by affiliates of Sterling Investment Partners (“Sterling”).  Additional capital was supplied by Cambridge Management, General Electric Capital Corporation and BlackRock Kelso Capital. This transaction is the successful culmination of an initiative led by The Bigelow Company LLC to provide an attractive liquidity event for affiliates of American Securities Capital Partners, L.P. (“ASCP”) and other significant shareholders, while simultaneously providing management with a “best-fit partner” that will provide additional resources to support the Company’s growth plan.

“Partnering with Sterling adds significant strategic and financial resources that allow us to continue our growth in domestic and international industrial products, build our architectural products business, and pursue strategic acquisitions.” Bill Colson, President Cambridge
“We are highly attracted to Cambridge’s diverse customer base, the repeat order and consumable nature of its products and its leading market position. We look forward to partnering with management as they continue to build the businesses.” Bill Macey, Managing Partner Sterling

Cambridge, Maryland

has been acquired by

Westport, Connecticut

The undersigned acted as M+A advisor to Cambridge International, Inc.