Superior Products, Inc. of Cleveland, Ohio has acquired Macro Technologies, Inc. of Kirkland, Washington. Terms of the transaction were not disclosed.
Macro Technologies, founded in 1974, manufactures proprietary quick connects, relief valves, stainless hoses, and shutoff valves for compressed and cryogenic gases used in home medical, transportation, and industrial markets. Their products operate in extremes of temperatures, pressures, and accuracy, and are also used in the emerging LNG and CNG markets including alternative fueling.
Privately owned Superior Products, Inc., founded in 1946, designs and manufactures a complete line of compressed gas fittings, assemblies, and gas management systems for customers in the welding, medical, beverage, and specialty gas industries throughout the Americas, Asia, and Europe. CEO Don Mottinger noted that with the acquisition of Macro, 70% of Superior Products’ revenue now comes from selling into the medical market, and strong synergies result from the two companies’ complementary strengths.
EdgePoint Capital Advisors of Beachwood, Ohio, served as acquisition advisor to Superior Products throughout this transaction and arranged the acquisition financing. “EdgePoint did an excellent job for us throughout the process, designing a creative financial structure and obtaining the financing, as well as advising us on each step as the transaction moved along. I wouldn’t want to have done it without them”, said Mottinger. EdgePoint, a member of FINRA and SIPC, is a leading investment banking firm that advises owners of middle market businesses on merger and acquisition transactions.