LOS ANGELES, Nov. 17, 2020 (GLOBE NEWSWIRE) -- Transom Capital Group-backed SemiTorr (www.semitorrinc.com) today announced that it has acquired M-I-C (www.m-i-cinc.com), which serves biotech, pharmaceutical and industrial customers throughout northern California. This is SemiTorr’s second add-on acquisition since being acquired by Transom Capital Group, a leading operations-focused middle market private equity firm, in December 2018.
Ken Firtel, Managing Partner at Transom, said, “We’re pleased with SemiTorr’s growth, both organic and inorganic, and acquiring M-I-C continues the company’s strategy of expanding its customer base and diversifying its revenue streams through a focused add-on effort.”
M-I-C is a distributor and manufacturers’ representation firm with over 45 years’ experience in the instrumentation and process control markets that provides products and solutions for biotech, pharmaceutical and industrial customers. M-I-C offers top quality, industry-leading products to ensure process up-time and long-term performance. It offers a wide variety of products including pumps, regulators, valves, sensors, and flow meters.
Upon closing of the transaction, Kevin Waddell, Chief Executive Officer of SemiTorr, remarked, “Throughout its 30+ year history, SemiTorr has achieved significant growth through its world-class technical sales team, best-in-class product offering and outstanding customer service. With the acquisition of M-I-C, SemiTorr will further strengthen its position in California.”
Mickey Schriefer, M-I-C’s President, said, “I’m excited for the opportunities that lie ahead for M-I-C as we become part of the SemiTorr team. Our mission to provide our customers with high quality products and outstanding service will only be strengthened by the resources of SemiTorr. As a result of this acquisition, we will be able to grow faster and bring more solutions to a larger addressable market.”
Terms of the transaction were not disclosed. SemiTorr was represented by Russ, August, and Kabat as M&A counsel on this transaction, and M-I-C was represented by the Law Offices of Amy Rypins. Bank of America Merrill Lynch provided the debt financing for the transaction.
About Transom Capital Group
Transom (www.transomcap.com) is a leading operations-focused private equity firm in the middle market with more than $600 million in assets under management as of March 2020. The firm's functional pattern recognition, access to capital, and proven ARMOR Value Creation Process combine with management's industry expertise to create improved operational efficiency, significant top-line growth, cultural transformation and overall distinctive outcomes. Transom is headquartered in Los Angeles, California.
About SemiTorr Group, Inc.
SemiTorr (www.semitorrinc.com) was founded in 1988. Originally serving the Pacific Northwest, SemiTorr has expanded nationally to support a wide array of markets throughout the United States. This expansion has been both organic with key suppliers and via acquisition; including M-I-C, SemiTorr has completed five acquisitions over the last seven years, focused on sanitary and industrial markets. As a result, SemiTorr currently has ten distribution centers in Tualatin, OR, Livermore, CA, Chandler, AZ, Lehi, UT, Albuquerque, NM, Denver, CO, Austin, TX, Manassas, VA, Allentown, PA and Clifton Park, NY.
MEDIA CONTACT
Sam Butler, for Transom Capital Group
sam@35thAvenuePartners.com