SEI MetalTek, Inc. Has Been Recapitalized by Desrosier Capital Partners
10.11.2022
HOUSTON, TEXAS (November 10, 2022) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce the majority recapitalization of SEI MetalTek, Inc. (“SEI” and/or “the Company”) to an investor group led by Desrosier Capital Partners (“Desrosier Capital”). Statesman served as the exclusive sell-side financial advisors to SEI on the transaction.
SEI is a niche springs manufacturer comprised of three locations – Colonial Spring (Bristol, CT), Hardware Products (Chelsea, MA) and Spring Engineers of Houston (Houston, TX). SEI is a turn-key manufacturer of custom and stock springs, wire forms, and stampings for a wide range of industries. Members of SEI management and the selling shareholders, whose family has owned SEI since its founding in 1966, will remain minority shareholders in the company going forward.
“We are very grateful to the Statesman team for taking the time to fully understand our business and properly position SEI in a manner that optimized a favorable outcome for the ownership, management, and employees. With Statesman’s support, we were able to properly identify and select our ideal partner to take SEI to the next level. Without Statesman’s guidance and streamlined process, we could not have accomplished such a favorable outcome.” Said Kevin Grace, CEO of SEI MetalTek, Inc.
About the other transaction participants
Statesman Corporate Finance, LLC (Houston & Austin, TX) is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation, and other general corporate financial advisory services to middle-market companies. The team advising on this engagement was led by Director Jim Briggs, and included Vice Presidents Sarah Wilson and Philip Rodriguez, and Analyst Kailen Kershner.
Desrosier Capital Partners (Naples, FL) is a middle-market private equity firm that invests in and partners with management in the niche manufacturing and business services sectors. The firm was founded in 2021 by John Desrosier and Peter Desrosier as a successor firm to Desrosier & Company, a private investment firm established in 1992. The Desrosier Capital team on this transaction was led by Partners John and Peter Desrosier.
Munsch Hardt Kopf & Harr, P.C. (Dallas, TX) provided legal counsel to SEI led by Shareholder, A. Michael Hainsfurther, and Associate, Nicole E. Manley.
Pullman & Comley, LLC (Hartford, CT) provided legal counsel to Desrosier Capital led by Members Andrew C. Glassman and Russell F. Anderson.
