TVV CAPITAL COMPLETES ADD-ON ACQUISITION BY BIG 3 PRECISION

Sur-Form Corporation Acquired by Big 3 Precision, a TVV Portfolio Company

Acquisition Expands Big 3’s Services with Leading Provider of Material Handling Solutions

 

Nashville, TN – March 9, 2016 – TVV Capital, an operationally-focused private equity firm, announced today that its portfolio company, Big 3 Precision Products, Inc., acquired Sur-Form Corporation, a leading provider of material handling solutions. Terms of the transaction were not disclosed.  The acquisition of Sur-Form is the seventh investment for TVV Capital’s latest fund, TVV III.

“The acquisition of Sur-Form highlights TVV’s focus on growing portfolio companies through add-on investments that provide operational and market synergies,” said Andrew W. Byrd, President of TVV Capital. “We acquired Big 3 Precision in 2012 and believe the addition of Sur-Form will expand the growth opportunities for the combined companies.  Sur-Form’s expertise in thermoforming and injection molding complement Big 3’s design and build capabilities while expanding their sales to Ford, General Motors, and Fiat Chrysler.  Sur-Form’s operations are headquartered near Detroit and are expected to provide additional manufacturing capacity and distribution capabilities for Big 3.”

Commenting on the acquisition, Big 3’s President and CEO, Alan Scheidt, stated, “We are excited about Sur-Form’s team joining the Big 3 family.  We are pleased that Ed Stacey, founder and President of Sur-Form, will continue to lead his team. They have a great reputation in the industry for designing, prototyping and manufacturing high quality packaging solutions.  Sur-Form’s 45,000 square foot facility is ISO 9001 and ISO 14001 certified and highlights their commitment to quality. We also expect their extensive manufacturing experience and strong management team to be very complementary with Big 3 while expanding our combined growth opportunities.”

Sur Form’s thermoforming capabilities include design, prototyping and production tooling. Thermoformed products include dunnage trays that are designed to protect and transport products, such as sensitive or machined parts.   The Company’s injection molding services include design and prototyping.  Injection molded products include bar dunnage to provide separation of parts; flipper dunnage that features multiple finger-like details that pivot independently on one axis and flip open to allow the material handling operator to load the product and flip closed to lock the product in place; and custom injection molded trays that include shipping and processing kit trays and precision automation trays.  The Company also designs and builds innovative seat pallet systems for the automotive industry.  Sur Form has worked closely with Fiat Chrysler, Ford, and other Tier 1 suppliers to develop seat pallet systems that streamline customers’ manufacturing and assembly processes.

 

About Sur-Form Corporation

Sur-Form is a leading provider of material handling solutions.  The Company was founded in 1997 by Edward Stacey, Jr., a veteran of the materials handling industry.  The Company designs and produces reusable materials handling equipment for the automotive industry, both as a supplier to other materials handling businesses and as a direct supplier to the automotive industry. More information about Sur-Form is available at http://www.sur-form.com/

 

About Big 3 Precision Products, Inc.

Big 3 is market-leading manufacturer of injection blow molds, tooling and fabrication products. The Company’s diversified customer base includes pharmaceutical and personal care products companies including GlaxoSmithKline, Bristol-Myers Squibb, and Procter & Gamble, and leaders in the automotive industry including Ford, General Motors, and Fiat Chrysler.  Big 3 was founded in 1970 and is headquartered in Centralia, IL.  TVV acquired Big 3 in 2012.  More information about Big 3 is available at http://big3precision.com/

 

Advisors

Legal advisors for TVV Capital were Bass, Berry & Sims PLC of Nashville, TN.  Accounting services were provided by Marcum LLP (formerly DGLF CPAs & Business Advisors) of Nashville, TN.

 

 

About TVV Capital

TVV Capital (Nashville, TN) is an operationally-focused private equity investment firm that targets high-performing niche manufacturing companies in the lower middle-market.  The firm seeks to accelerate portfolio growth and expansion through an operational value-added approach, utilizing senior manufacturing executives to forge close working partnerships with portfolio company leadership.  TVV employs a direct-to-owner acquisition sourcing model that targets companies with enterprise values from $10 to $100 million, EBITDA margins of 10 to 25 percent and characterized by consistent profitability, strong management, and identifiable growth prospects.  The firm is managed by an experienced team that has established a 17+ year track record of delivering best-in-class investment returns.  For further information, please visit www.tvvcapital.com.