Harris Williams & Co. Advises Gulf Coast Machine & Supply Company in its Sale to Altus Capital Partners

October 16, 2012

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Gulf Coast Machine & Supply Company (Gulfco), a leading manufacturer of forgings for use in energy and general industrial end markets, to Altus Capital Partners (Altus).  Gulfco was a portfolio company of Industrial Opportunity Partners (IOP).  Harris Williams & Co. acted as the exclusive advisor to Gulfco.  The transaction closed on October 12, 2012 and was led by Jeremy Eberlein and Jason Klinghoffer.

Gulfco, established in 1919 and headquartered in Beaumont, TX, is a leading provider of value-added forging solutions to blue-chip customers operating in highly demanding environments such as subsea production facilities, refineries, offshore oil and gas rigs, mining machinery, off-highway equipment, and wind power turbines.  Gulfco’s specialized equipment and highly skilled professionals offer advanced ring rolling, open die forging, machining, heat treating, and testing for products formed into shaped dies, discs, seamless rolled rings, bushings and blocks.   

IOP, based in Evanston, IL, is a private equity firm dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $30 million and $350 million.  IOP focuses on businesses with strong product, customer and market positions, and provides management and operational resources combined investment experience to support growth in sales and earnings at its businesses.

Headquartered in Wilton, CT, Altus invests alongside management in profitable U.S.-based manufacturing companies to help seize their current growth opportunities and solve succession challenges. With over 55 years of, Altus’ partners utilize their extensive knowledge to enhance the value of a company through management buyouts, recapitalizations, consolidations and divestitures.