Branford Seals the Deal! Fund II Invests in Leading Pipeline Safety Supplier

Rhea-AI Summary

Branford Castle Partners, a private equity firm based in New York City, has acquired GPT Industries, a manufacturer of pipeline sealing and electrical isolation products. This acquisition marks the fourth platform investment for Branford's second fund, closed in 2021. GPT, formerly part of EnPro Industries (NYSE:NPO), produces critical-service flange isolation kits and monolithic isolation joints for global oil, gas, and water pipelines. Branford aims to leverage GPT's technological expertise and market reputation to drive growth and expand into new markets. Financial terms of the transaction were not disclosed.

Positive

• Branford Castle has acquired GPT Industries, enhancing its portfolio.
• GPT's innovative products address significant pipeline safety concerns.
• The acquisition positions GPT for growth in new markets.

Negative

• None.

NEW YORK, Jan. 30, 2023 /PRNewswire/ -- Branford Castle Partners, the New York City-based private equity firm, today announced that its affiliate Branford Castle Partners II, L.P. has acquired GPT Industries, a leading manufacturer of critical pipeline sealing and electrical isolation products.  GPT is the fourth platform acquisition for Branford's second fund, which was closed in 2021. 

Based in Denver, Colorado, GPT produces critical-service flange isolation kits (FIKs) and monolithic isolation joints (MIJs) for oil, natural gas, and water pipeline applications globally.  Prior to Branford's acquisition, GPT was an operating division of EnPro Industries (NYSE:NPO).  GPT's patented, highly engineered products help prevent the leading causes of pipeline failures and protect against potential explosions, fires and pollution.  GPT's "Pikotek" brand is known as the pioneer of the flange isolation gasket industry and is recognized as the original brand to have introduced FIKs to the broader market in the 1980s. 

Branford has teamed up with existing management, including President Darin Lane, to build the newly independent company. 

"We are excited to partner with Darin and the GPT leadership team and help them expand their products into new markets and geographies.  We believe the Company's technological leadership and established reputation of quality and reliability make it well-positioned for future growth," said David Castle, Managing Partner of Branford Castle.

"We are also excited to support GPT as they continue to develop new innovative products and solutions to enhance pipeline safety," said Marilyn Yang, Vice President of Branford Castle.

"We look forward to our next stage of growth in partnership with Branford Castle," said Darin Lane.  "With Branford's support, we are ready to hit the ground running with our growth initiatives." 

Branford Castle was advised by its legal counsel, Akerman LLP.  Seller EnPro Industries was advised on the sell-side by Capstone Partners, and its legal counsel, Robinson Bradshaw & Hinson, PA.  Capital Southwest Corporation and IBC Funds are providing the debt financing for the transaction.  Terms of the transaction were not disclosed. 

About Branford Castle Partners (http://www.branfordcastle.com/)
Branford Castle is a private market investor focusing on lower-middle-market investments, with a more than 30+ year history of helping to grow businesses.  The firm typically makes control investments in companies with less than $15 million of EBITDA and a leadership position in a niche industry.  Branford is particularly keen on the strong relationships it develops with its portfolio company managers.  Branford has particular expertise in industrials/specialty manufacturing, consumer products, business services and logistics.

View original content:https://www.prnewswire.com/news-releases/branford-seals-the-deal-fund-ii-invests-in-leading-pipeline-safety-supplier-301733920.html

SOURCE Branford Castle

FAQ

What company did Branford Castle Partners acquire?

Branford Castle Partners acquired GPT Industries.

What does GPT Industries manufacture?

GPT Industries manufactures pipeline sealing and electrical isolation products.

Which company was GPT Industries previously a part of?

GPT Industries was previously an operating division of EnPro Industries (NYSE:NPO).

What is the significance of the acquisition for GPT Industries?

The acquisition allows GPT to expand its products into new markets and enhance pipeline safety.

What was Branford Castle's investment strategy?

Branford Castle focuses on lower-middle-market investments and technological leadership.