HVAC Breaking News / News

March 9, 2012: Blue Wolf to Acquire Standex Air Distribution Products

NEW YORK — Blue Wolf Capital Partners LLC, a New York-based private equity firm, announced that Blue Wolf Capital Fund II L.P., through an affiliate, has entered into an agreement with Standex International Corp. to acquire Standex’s Air Distribution Products Group (SADP), a leader in the design and manufacture of galvanized steel duct products for residential and light commercial buildings. Blue Wolf will acquire substantially all of the assets and assume certain operating liabilities of SADP. Terms were not disclosed.

The company’s executive management team, led by CEO Tom Smid, will remain with SADP and are investing in the company alongside Blue Wolf. Headquartered in Philadelphia, SADP operates five facilities in the United States and offers products to more than 500 customers throughout the nation.

Michael Ranson, Blue Wolf partner, said, “We are excited about the opportunity to invest in SADP, an industry leader with deep customer relationships across the country, and a top-class management team. Together we will put Blue Wolf’s proven operational focus to work as we actively pursue a broad range of opportunities — including investing in key growth areas such as human capital, customer relationships, capital equipment, and information systems — to grow this dynamic organization and further strengthen the company’s leadership position.”

Smid said, “The acquisition of the Air Distribution Products Group by Blue Wolf affords our business many exciting opportunities. We now have a financial partner who is eager to invest in enhancing our systems and growing our business both organically and through broadening our presence in the air distribution market. Blue Wolf’s vision and support, coupled with our market knowledge and relationships, create a strong team focused on value creation for our customers and growth.”

For more information, visit www.blue-wolf.com.

Publication date: 03/05/2012

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