Control Devices, LLC Acquires Gadren Machine Company, Inc.
Minneapolis-based Goldner Hawn Johnson & Morrison (“GHJ&M”) announced today that its portfolio company Control Devices, LLC acquired specific operating assets of Gadren Machine Company, Inc. of West Collingswood Heights, NJ. The transaction, which is Control Devices’ sixth add-on acquisition, closed on September 25, 2015.
Gadren Machine Company, Inc. is a leading manufacturer of bronze and stainless steel float valves and other related components that are used in a wide variety of industrial and agricultural applications including cooling towers, irrigation and water treatment, livestock and animal watering. Control Devices’ CEO, Jamie Reuter, commented, “Gadren Machine Company and the Gade® brand name are synonymous with the highest quality made-in-America balanced float valves. Its product line is highly complementary to Control Devices’ existing broad line of Bob®, Bobby®, and Kerick® branded industrial float valves.”
Control Devices, headquartered in Fenton, Missouri, is a leading designer and manufacturer of engineered flow control solutions. It offers customized and standard valves, nozzles and accessories, condensate traps, refrigerant distributors and other products that serve as critical components in end-product applications including pressure washers, air compressors, fire suppression systems, specialty gas systems, HVACR, and heavy truck braking systems. “We are pleased to support the Control Devices management team in yet another excellent acquisition,” said Goldner Hawn Johnson & Morrison’s Managing Director, Jason Brass.”
Founded in 1989, Minneapolis-based Goldner Hawn Johnson & Morrison is one of the longest standing private equity firms in the Midwest. The firm is actively investing its sixth investment fund with $250 million in committed capital. GHJ&M makes control equity investments in lower middle market companies with EBITDA in the range of $5 million to $15 million and enterprise values from $20 million to $150 million. Additional information is available at the firm’s website, www.ghjm.com.