Madison Capital Partners’ affiliate Hudson Products Corporation has been sold to The Sterling Group
Lincoln International, a leading mid-market investment bank, today announced the sale of Hudson Products Corporation (“Hudson”), an affiliate of Madison Capital Partners, to The Sterling Group, a private equity group based in Houston, Texas. Lincoln International acted as the exclusive financial advisor to Madison Capital Partners, a Chicago-based investment firm. Terms of the transaction were not disclosed.
Headquartered in Sugar Land, Texas, Hudson is one of the world’s leading manufacturers of air-cooled heat exchangers (“ACHEs”) and axial-flow fans (“Fans”) used in the global petroleum, natural gas, power generation, petrochemical and chemical industries. Hudson has a worldwide footprint with manufacturing facilities in Beasley, Texas and Pombia, Italy, sales offices in Alberta, Canada and Shanghai, China and a joint venture in Monterrey, Mexico. Hudson has installed over 30,000 ACHEs and 150,000 Fans in more than 100 countries.
Lincoln International worked closely with Hudson’s senior management team to manage the preparatory and marketing phases, assist in the selection of a final investor, coordinate the domestic and international due diligence process, and help to facilitate the deal. “The Hudson management team appreciated the thoroughness and level of professionalism exhibited by Lincoln International during the entire process which culminated in a transaction benefiting all parties involved,” said Chris Yunkun, president and chief executive officer, Hudson Products Corporation. Lincoln International identified The Sterling Group as a strong potential acquirer based on its deep expertise in the energy industry.
“Higher prices for energy have stimulated infrastructure investment in a number of areas including refinery, power generation and transmission,” said Sean Bennis, senior vice president at Lincoln International. “Lincoln International believes this investment will be substantial and sustainable for the foreseeable future. Companies like Hudson Products that produce capital goods for this market have a great future and are desirable acquisition candidates for both synergistic purchasers and private equity groups.”
“The Sterling Group’s familiarity and investment experience in the energy industry make it the perfect home for Hudson,” added Larry Gies, president and chief executive officer, Madison Capital Partners.
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