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Madison Industries has sold Extrude Hone to Gladstone Investment Corporation

Extrude Hone

Founded in 1966 and headquartered in Irwin, Pennsylvania, Extrude Hone is a leading global provider of precision surface finishing solutions for complex, mission-critical applications. The company offers automated equipment, aftermarket parts and services, consumables and contract finishing services across abrasive flow machining (AFM), electrochemical machining (ECM) and thermal deburring (TEM) technologies. Extrude Hone’s highly engineered solutions help customers deburr, polish, radius, shape and flow-tune difficult-to-machine components, improving product performance, reliability and manufacturing efficiency. The company serves a diverse global customer base across aerospace, defense, automotive, heavy industrial, energy and other demanding end markets.

The Deal

Madison Industries acquired Extrude Hone from Kennametal in 2015 and supported the company as an independent platform focused on its core surface finishing technologies. During Madison’s ownership, Extrude Hone continued to invest in its technologies, application expertise and global capabilities, strengthening its position as a trusted technical partner to customers with increasingly complex manufacturing requirements.

Madison Industries and Extrude Hone engaged Lincoln International as their exclusive investment banking advisor to identify the company’s next long-term partner. Building on Lincoln’s nearly three-decade relationship with Madison and deep expertise across industrial technology and engineered equipment, Lincoln positioned the business around its differentiated technology portfolio, global customer relationships, aftermarket and service capabilities and reputation for solving complex manufacturing challenges.

Madison Industries

Madison is one of the largest and most successful privately held companies in the world. Madison builds entrepreneurially driven, branded market leaders that are committed to making the world safer, healthier and more productive by creating innovative solutions that deliver outstanding customer value. The team at Madison is committed to building something truly remarkable that long outlasts them while coaching others to reach their highest potential. For more information, please visit www.madison.net.

Gladstone Investment Corporation

Gladstone Investment Corporation (Nasdaq: GAIN) is a publicly traded business development company that seeks to make secured debt and equity investments in lower-middle market private businesses in the United States in connection with acquisitions, changes in control and recapitalizations. For more information, please visit www.gladstoneinvestment.com.

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