Industrial Growth Partners Acquires Hultec
Industrial Growth Partners, in partnership with the Corbett family, has acquired Hultec USA, Inc., S&B Technical Products, Inc. and their affiliated entities and subsidiaries (collectively referred to as “Hultec” or the “Company”).
Founded in 1981 and headquartered in Fort Worth, TX, Hultec is a designer, manufacturer, and distributor of engineered elastomer gaskets, seals, and other critical products for the potable and non-potable water, industrial, and agricultural end markets. The Company’s high quality pipe sealing solutions are essential to the development and ongoing maintenance of sanitary and reliable water and wastewater infrastructure in communities across the world. Hultec’s global manufacturing and distribution footprint, vertically integrated capabilities, customer-centric culture, and reputation for superior product quality fortify its strong customer relationships and leading market position.
“IGP’s track record in the rubber polymer industry and infrastructure-related end markets made them a perfect partner for Hultec,” commented Brad Corbett Jr., noting further, “their growth-oriented philosophy and experience supporting family ownership transitions stood out as a true differentiator and made IGP our partner of choice to carry on the legacy of our family-founded company. The Corbett family and entire Hultec team are excited to partner with IGP as we continue to grow and strengthen our business.”
On March 31st, 2023, Industrial Growth Partners VI, L.P., in partnership with management, the Corbett family and certain outside investors, acquired Hultec, marking the third platform investment for IGP’s sixth fund. The transaction creates a platform for Hultec to accelerate its growth by aggressively pursuing its key strategic initiatives. The acquisition is an ideal fit with IGP’s strategy of investing in niche industrial companies with leading market positions, significant growth opportunities and outstanding management teams. To learn more about Hultec, please visit www.hultec.com.