Portfolio Company News
|January 1, 2015, Thursday|
CRP completes minority recapitalization of Metal Finishing Technologies, LLC
(BRISTOL, CT) - Metal Finishing Technologies, LLC. (“MFT”) is pleased to announce that it successfully closed a transaction with Capital Resource Partners’ (“CRP”), giving CRP a minority, non-control position in the company.
“We could not be happier to have the CRP team on board. They have thirty years of experience helping firms like ours grow and their knowledge, resources and contacts will play an important role in helping us achieve our goals of building the best surface finisher in the Northeast that addresses the needs of customers in the aerospace, industrial products, consumer, automotive and medical industries,” said Peter Mirabello, the CEO of MFT.
Andy Silverman, a Principal at CRP, says that CRP is excited to be working with Peter Mirabello and with the operations team at MFT.
“As we learned more about MFT it became clear to CRP that the team is head and shoulders above other metal finishers in the Northeast. While there is always room for improvement, we were struck by the strength of MFT’s production, quality assurance and management teams. From a junior line operator to a 30 year veteran, everyone at MFT takes a professional approach to addressing clients’ needs and to providing the best service possible,” Silverman said.
As a licensed FAA/EASA repair station, AS9100 and ISO 9001:2008 certified finisher; MFT is well positioned to continue to address the needs of its aerospace and commercial customers. “We look forward to leveraging our 72,000 square foot facility and strong operations team to add more processes to help address the needs and to meet the quality requirements of both our long standing customers and the new relationships we plan to forge,” Mirabello also added.
“There is shortage of qualified and accredited surface finishers in the Northeast who are as well positioned as MFT to address the capacity constraints facing both the aerospace industry and the general commercial space. In partnering with Peter, we are working with a unique CEO who understands how to lead teams and how to solve customers’ problems. With Peter, we are looking forward to helping manufacturers across New England and around the country,” Silverman commented.
About Capital Resource Partners
Capital Resource Partners (www.crp.com) is a growth focused investor providing financing to lower middle-market companies. The firm invests in the following industries: industrial services, business and information services, consumer products and technology. Based in Boston MA, CRP was founded in 1987 and invests in companies throughout the United States. CRP has raised $1.1 billion of capital in five institutional limited partnerships and completed in excess of 90 transactions during its history.
About Metal Finishing Technologies
Metal Finishing Technologies, LLC. (www.mftech.com), MFT is one of the largest, oldest and most diversified metal finishers in New England. Since its founding in 1947, MFT has serviced plating and turbine component coating and removal clients throughout the Northeast and across the US. MFT has been under new ownership since 2011 when Peter Mirabello bought the Company. The company operates out of a 72,000 square foot ISO 9000-2008 / AS9100 governed facility, designed specifically to meet the stringent handling and environmental needs of the metal finishing industry