Private equity firm Eigen Capital announced the completion of its acquisition of Dixon, Ill.-based Plews & Edelmann from British industrial conglomerate Tomkins. Terms were not released. Plews & Edelmann products include power steering hose assemblies, precision-engineered brass fittings, air accessories, air hoses, tire repair, tire hardware, tire gauges, lubrication equipment and lubrication greases, oils and sprays. The company’s products are sold under the brands of Amflo, Camel, Tru-Flate, Syracuse, Edelmann, LubriMatic and UltraLube.
“We’re thrilled with the customer relationships that the company brings, most of which go back decades,” says Eigen Capital partner Christophe Mallard. “It is a very high-quality asset that exhibits both the kind of undisputable market leadership and product expertise that you would expect from a long-established business, as well as an extraordinarily innovative mindset, evidenced in particular in the unique growth potential of the UltraLube biobased lubricants. We see tremendous opportunities and look forward to working with Plews’ current high-caliber management team and all of the highly skilled employees to take the company to ever greater achievements.”
“This is an exciting new chapter that is being written for Plews,” says Steve Venghaus, president of Plews. “There is a lot of history here, and our expertise is the best possible foundation to keep serving our customers to the satisfaction of all. From the beginning, we felt the team at Eigen with their no-nonsense approach was the right one to support our plans to aggressively focus on growth and new product development like our UltraLube biobased lubricants.”