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Private Investment Group Purchases SCS |
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Written by Chelsey Drysdale
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Thursday, 19 June 2008 |
INDIANAPOLIS – Private investment firm Berwind Corp. has acquired Specialty Coating Systems from Bunker Hill Capital L.P. for an undisclosed sum.
Bunker Hill had acquired the company, which makes parylene conformal coatings, and various spray and curing equipment, in December 2005 from Cookson Electronics.
In a release, Bunker Hill said the sale represents more than a six times return on invested capital. "We are very pleased with the sale and are confident that SCS will continue its impressive growth rate,” managing partner Mark DeBlois said. "This sale represents an exceptional return for our limited partners in less than three years, and we are grateful to Terry Bush and the SCS management team for their hard work and dedication."
SCS president and CEO of Terry Bush credited Bunker Hill for its "strategic leadership [and] proactive approach and financial commitment." |
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