Arlington Capital Partners Announces Acquisition of Fulton Bellows by its Portfolio Company United Flexible
WASHINGTON, DC, February 17, 2016 – United Flexible, Inc. (“United”), a portfolio company of Arlington Capital Partners announced the acquisition of Fulton Bellows, LLC (“Fulton” or the “Company”). Headquartered in Knoxville, Tennessee, Fulton is a leading manufacturer of complex precision bellows and thin-walled metal components utilized in mission critical gas and fluid control systems with a 110-year reputation for engineering and design expertise. Fulton Bellows will continue to be run from its Knoxville headquarters as an independent wholly owned subsidiary of United Flexible. The combined companies will have 470 employees.
John Devine, CEO of United Flexible states, “Fulton Bellows brings a unique set of capabilities in hydroforming and specialized bellows manufacturing techniques with a strong reputation and legacy built over its 110-year history. These capabilities will allow United Flexible to offer a wider range of critical bellows and highly engineered fluid and gas transfer solutions to our combined customer base.”
John George, CEO of Fulton Bellows continued, “We are excited to join the United Flexible team and are looking forward to exploring the many opportunities for organic growth that are available to the combined Company. United Flexible’s reputation as a collaborative partner throughout its customers’ design process pairs nicely with the unique range of capabilities and decades of specialized manufacturing know-how that Fulton brings to the table. With the additional resources available to us through United Flexible, we will be well positioned to serve the existing needs of our base of over 175 customers while expanding our service offerings.”
Peter Manos, a Managing Partner at Arlington Capital said “We are pleased to provide additional capital in support of the organic and acquisition growth plans for United Flexible. With the acquisition of Fulton, United Flexible is executing on its strategy of expanding its portfolio of technically differentiated high pressure and extreme temperature conduit system product offerings and further expanding its blue chip customer base.”
Daniel Di Piazza of Arlington Capital, said, “The critical nature of Fulton’s products and the Company’s unique position as one of a few established players in the bellows space fits well with our investment thesis for United Flexible. The Company has a long-seeded base of recurring business with its OEM customers and presents an opportunity to further expand United Flexible’s presence in several attractive end markets.”
About United Flexible
Headquartered in Romeoville, Illinois, United Flexible is a global leader in the design, development, manufacture and support of performance critical flexible engineered solutions for the transfer of fluids and gases in extreme environments. The Company is a proactive partner to OEMs and distributors, operating in several attractive end-markets including aerospace/defense, satellite, power generation, general industrial, oil/gas, cooling and transportation. United Flexible Group has manufacturing operations in Romeoville, Illinois; Houston, Texas; Merthyr Tydfil, Wales, UK; Stockholm, Sweden; and Rotterdam, The Netherlands.
About Arlington Capital Partners
Arlington Capital Partners is a Washington, D.C.-based private equity firm that has managed $1.5 billion of committed capital via three investment funds, focused on middle market investment opportunities in government related growth industries including: aerospace/defense, government services and technology, healthcare, and business services and software. The firm’s combination of operating and private equity experience enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field. www.arlingtoncap.com
Peter Manos or Daniel Di Piazza
Arlington Capital Partners
5425 Wisconsin Avenue, Suite 200
Chevy Chase, MD 20815