Lincoln International Represents Kerk Motion Products, Inc. and Fulham & Co. in the Sale of Kerk to Haydon Enterprises, a Harbour Group Company
CHICAGO May 8, 2008 Lincoln International, a leading global mid-market investment bank, today announced that Kerk Motion Products (Kerk) has been acquired by Haydon Enterprises (Haydon), a Harbour Group company. Harbour Group is a private operating company headquartered in St. Louis, Missouri. Kerk, a leading designer, manufacturer and marketer of high-precision motion control products, was a portfolio company of Fulham & Co. (Fulham), a private investment firm headquartered in Wellesley, Massachusetts. The terms of this transaction were not disclosed.
Located in Hollis, New Hampshire, Kerks unique line of motion control products includes lead screw assemblies, anti-backlash lead screw assemblies, and slides and actuators for a variety of precision applications in the medial, computer storage, semiconductor, test and measurement, packaging and telecom markets, among others. Since its founding in 1976 by co-founders Ken and Keith Erikson, Kerk has grown to become one of the worlds largest manufacturers of non-ball lead screws for motion control applications.
Lincoln International worked closely with both Fulham and Kerks senior management team to manage the transaction process. Lincoln Internationals expertise was indispensable in preparing and marketing Kerk, assisting in the selection of a final investor, coordinating the due diligence process and facilitating final negotiations.
John Fulham, Fulhams Principal, stated: Lincoln provided expert advice throughout the sale process. We had high expectations for the sale of Kerk, and Lincoln delivered outstanding results. Added Tim Fulham, Principal, We were very impressed with the Lincoln team and valued their advice throughout all stages of the transaction. We look forward to working with Lincoln again in the future.
Ken Erikson, Kerks Co-President and founder, stated: We thank the Lincoln team for all their efforts throughout this process. Lincoln created multiple attractive options for the Kerk shareholders, and we believe Kerk will thrive under Harbour Groups ownership. We were impressed with the professionalism of Harbour Group and feel confident that the business will be in good hands going forward, added Keith Erikson, Kerks Co-President and founder.
Kerk Motion Products is a tremendous business and we were honored to represent Fulham and the shareholders in this process, said Patrick Goy, Managing Director of Lincoln International. Lincolns deep expertise in the motion control industry helped it identify Haydon as a strong potential acquirer for Kerk. We continue to see strong transaction activity within the motion control industry, with significant acquisition interest from both global strategic buyers as well as high-quality private equity groups, added Sean Bennis, Managing Director of Lincoln International.
Kerk represents the 12th completed assignment by Lincoln Internationals Global Industrial Group this year and sixth transaction in Lincolns Industrial Motion Control segment in the past year. Lincolns Industrial Group has completed more than 100 successful transactions in the industrial space since 2005.
About Kerk Motion Products, Inc.
Kerk Motion Products, Inc. designs and manufactures a unique line of high-precision motion control products including lead screw assemblies, anti-backlash lead screw assemblies, slides and actuators. For over 30 years, Kerk has distinguished itself in the lead screw market through its technical innovation, product quality and customer service. The Companys products are designed for high performance, maximum life, quiet operation and cost effectiveness. Further information about Kerk and its product portfolio is available on its website at www.kerk.com.
About Fulham & Co.
Based in Wellesley, Massachusetts, Fulham is an investment firm that makes private equity investments in well-managed companies that are leaders in their respective fields. The firm seeks to invest in branded and engineered product companies with sales primarily to commercial and industrial customers. Fulham assists management teams in their plans for growth and business development through its commitment as a long-term financial partner. Further information about Fulham and its portfolio companies is available on its website at www.fulhamco.com.
About Haydon Enterprises
Haydon Enterprises, headquartered in Waterbury, Connecticut, is a leading designer and manufacturer of high performance fractional horsepower linear actuators, lead screw assemblies, rotary stepper motors and hermetically sealed switches for niche applications. The company, founded in 1951, operates 11 facilities on three continents. It is based in Waterbury, Connecticut. More information about Haydon can be found at www.hsi-inc.com.
About Harbour Group
Harbour Group is a privately owned company based in St. Louis, Mo. Harbour Group and its operating companies are engaged in the manufacture and distribution of a wide variety of consumer and industrial products, including decorative kitchen and bath hardware, specialty LED lighting products, linear actuators and switches, automotive-enthusiast products, lubricating systems and equipment, abrasives, diamond cutting products and related tools, entertainment and music products, and auxiliary plastic processing equipment. Since its founding in 1976, Harbour Group has acquired 157 companies in 34 different industries. More information about Harbour Group can be found at www.harbourgroup.com.
Über Lincoln International
Lincoln International Group (Lincoln International) als global aufgestelltes und integriertes M&A-Beratungshaus für mittelgroße Transaktionen bietet Lincoln International mit hervorragend ausgebildeten Experten Corporate Finance-Beratungsdienstleistungen auf höchstem Qualitätsniveau an. In den Büros in Chicago, Frankfurt, Los Angeles, New York und Paris, der strategischen Partnerfirma China Everbright sowie weitere Partnerorganisationen in Asien sind für Lincoln International rund 100 M&A-Experten tätig, von denen rund jeweils die Hälfte in den USA und in Europa arbeiten. Weitere Informationen über Lincoln International unter www.lincolninternational.com.
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