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Finding a Niche for Growth
By Michael C. Juliano
The Stamford Advocate
10/17/08
Hamilton Robinson Capital Partners, LLC, a private equity firm in Stamford, has acquired MEGTEC Systems, a Wisconsin-based maker of industrial products, for $90 million from its parent company Sequa Corp.
MEGTEC Systems, which has 800 employees in 14 plants around the world, is an industry leader in the manufacture of machinery for the printing, packaging, environmental and other industries, said Scott Oakford, a managing partner at Hamilton Robinson.
"It does have a market niche, and it has always been our mission to grow our investments," he said MEGTEC will run independently with no changes in management and employees under a board of directors appointed by Hamilton Robinson, Oakford said.
The De Pere, Wis.-based company said it generates annual revenues of $250 million.
Hamilton Robinson was the preferred partner for his company, which Sequa introduced to a number of buyers, MEGTEC President Mohit Uberoi said.
"The Hamilton Robinson team impressed me with their professionalism, team approach and a focus on getting the acquisition done expeditiously," he said. "It was impressive that with all the financial turmoil out there, they were able to complete the acquisition. Since the deal closed, we are very pleased with their support and guidance as we deal with business challenges and opportunities."
Armand Lauzon, chief operating officer of New York City-based Sequa Corp., said in a statement that MEGTEC's employees and management should be proud of their accomplishments in developing MEGTEC as a global products and services provider.
"Through productivity improvements, smart business development and a focus on customer service, they have created a tremendous platform for future growth and development," he said.
 Phillip Cagnassola, a partner at Hamilton Robinson, said he is delighted with the acquisition of MEGTEC due to its impressive product lines and position as a global supplier. "I think the future of MEGTEC will be very bright," he said.
Cheryl Detrick, executive director of the De Pere Area Chamber of Commerce, said she was pleased with Hamilton Robinson's takeover of MEGTEC, De Pere's third-largest employer with 427 workers.
The move will allow the company to have greater local control of its facility, she said.
"We think it's going to be a good thing for the company and the community," she said.
-Staff Writer Michael C. Juliano can be reached at michael.juliano@scni.com or 964-2417
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