Tex Tech Industries, a Portfolio Company of Arlington Capital, Closes the Acquisition of Highland Industries’ Coating, Laminating and Defense Business
WASHINGTON, D.C., May 2, 2019 – Tex Tech Industries, Inc. (“Tex Tech” or the “Company”), a portfolio company of Arlington Capital Partners (“Arlington Capital”), successfully completed the acquisition of the coating and laminating operations (“Coating Business”) and U.S. defense-related operations (“Defense Business”) of Highland Industries, Inc. The acquired businesses will be renamed Tex Tech Coatings, LLC (“Tex Tech Coatings”) and will operate as a division of Tex Tech.
Tex Tech Coatings, headquartered in Kernersville, NC, is a leading supplier of coated and laminated products across a variety of end markets including aerospace & defense, industrial, and medical. Acquiring Tex Tech Coatings will enhance Tex Tech’s capability set to include differentiated formulations and processes to address the most demanding heat, strength and chemical performance needs of its clients. Tex Tech Coatings will continue to provide the same superior service that they have provided for existing customers for over 30 years. Tex Tech Coatings will be led by the existing management team, including Scott Burkhart as President of Coatings, Kelly Moore as VP of Finance, and Justin Barnett as Director of Coatings Sales.
“We are excited to welcome Scott and his team into the Tex Tech family. Over the past 30 years, Tex Tech has continually innovated and invested in world-class R&D capabilities to remain on the cutting edge of industry innovation and technology to best service our customer needs. The acquisition of Tex Tech Coatings is an extremely exciting opportunity for the Company and fits squarely into our strategic roadmap of adding high value-add manufacturing capabilities,” said Ciaran Lynch, CEO of Tex Tech.
Peter Manos, a Managing Partner at Arlington Capital, said, “We are extremely excited to begin our partnership with Scott and the entire Tex Tech Coatings team. Acquiring coating and laminating capabilities has been Tex Tech’s top priority since Arlington Capital’s initial investment as it allows the Company to vertically integrate its manufacturing processes and become an end-to-end materials science supplier. We plan to continue to augment Tex Tech’s portfolio of capabilities through both organic investments and strategic acquisitions.”
Erica Son, a Vice President at Arlington Capital said, “As an industry leader for decades, Tex Tech Coatings possesses proprietary and difficult-to-replicate manufacturing processes and entrenched customer relationships that span over 30 years. Going forward, we are very excited to enhance these strong customer relationships through the combination of Tex Tech’s world-class R&D capabilities and Tex Tech Coatings’ differentiated manufacturing processes and new development pipeline.”
About Arlington Capital Partners
Arlington Capital Partners is a Washington, D.C.-area private equity firm that has managed $2.2 billion of committed capital via four investment funds. Arlington Capital focuses on middle market investment opportunities in growth industries, including: aerospace/defense, government services and technology, healthcare, and business services and software. The firm’s professionals and network have a unique combination of operating and private equity experience that enable Arlington Capital to be a value-added investor. Arlington Capital invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their companies’ position as leading competitors in their field.
About Tex Tech
Tex Tech is a leading global designer, engineer, and manufacturer of high-performance, specialty materials for diverse and niche customer applications. The Company manufacturers and provides mission critical materials and products to various OEMs and end users across four primary end markets including aerospace & defense, personal protection, high performance and sporting applications. To learn more about Tex Tech please visit https://textechindustries.com.
Contact:
Peter Manos & Erica Son
Arlington Capital Partners
5425 Wisconsin Avenue, Suite 200
Chevy Chase, MD 20815
(202) 337-7500