HBM Holdings Completes Acquisition of Control Devices
Addition Expands Portfolio of Specialty Manufacturing Companies
ST. LOUIS, MO – (October 13, 2021) – HBM Holdings (“HBM”) announced today it has acquired Control Devices, LLC of Fenton, MO. Control Devices, a portfolio company of Goldner Hawn founded in 1963, is a leading designer and manufacturer of highly engineered flow-control products utilized in niche applications across a diverse array of end markets.
The acquisition expands HBM’s portfolio in the industrial components space, adding Control Devices to the existing roster of Mississippi Lime Company, Aerofil Technology, HarperLove, and Schafer Industries.
Control Devices’ application engineering expertise, design content, and proven growth strategy make them an outstanding fit for the HBM portfolio,” said Anderson Fincher, CEO of HBM. “We see a terrific opportunity to support the management team in accelerating growth for the company as HBM builds in this market and expands further into the industrial components space.”
For more than 50 years, Control Devices has been trusted to deliver solutions to their customers’ application-specific challenges. The company has a long history of demonstrated engineering expertise with an in-house engineering team, diverse markets served, and a reputation for outstanding quality.
Scott Kerns, Control Devices CEO, commented, “We are excited to become part of the HBM portfolio. HBM is the right owner for us. HBM’s buy-and-build approach will accelerate our growth strategy, and takes our ability to serve customers to the next level.”
Mr. Kerns and the current Control Devices leadership team will remain in their roles and continue to drive the growth strategy for the business. The Control Devices sales, engineering and operations teams have long tenure and valuable expertise in the industrial applications for flow control.
Terms of the Control Devices transaction were not disclosed.
ABOUT HBM HOLDINGS
HBM Holdings is an investment and management company that acquires, supports, and operates middle-market businesses in industrial products and services. With a strategy focused on growing a diversified portfolio using a long-term buy and build approach, HBM provides its businesses with professional management expertise, financial resources, and high potential human capital to accelerate their growth. HBM invests in high-performing companies in the precision machined components, packaging, chemicals and minerals, and environmental services sectors. The firm’s portfolio of companies includes Mississippi Lime Company, Aerofil Technology, HarperLove, and Schafer Industries. For more information, visit https://hbmholdings.com.
ABOUT CONTROL DEVICES
Control Devices, founded in 1963 and headquartered in Fenton, MO, is a leading designer and manufacturer of engineered flow control solutions in the gas, air and liquid markets. Control Devices offers customized and standard valves, condensate traps, refrigerant distributors, and other products that serve as critical components in end-product applications, including medical systems, air compressors, fire suppression systems, and specialty gas HVACR, and heavy truck braking systems.