Dallas, Texas – May 13, 2019 – Sky Island Capital (“Sky Island”), a Dallas-based lower middle market private equity firm, is pleased to announce that it made a majority investment in Material Sciences Corporation (“MSC”). Headquartered in Canton, Michigan, MSC produces advanced materials and specialty coated metals that are engineered to address lightweighting, noise, vibration, and harshness (“NVH”), corrosion, architectural, and aesthetic needs for a wide variety of end markets, including transportation, building products, packaging, and consumer goods.
This is the first investment for Sky Island, which was founded in September 2018 to invest in lower middle market North American manufacturing companies with transformational upside potential. Several of the Sky Island team members had prior experience with MSC while working at their previous firm.
“We are extremely excited to partner with the MSC team again. As we looked for our first deal at Sky Island, we could not pass up on the opportunity to work with such a talented team and quality company that we are deeply familiar with from our prior management of the company,” remarked Jack Waterstreet, the Managing Partner of Sky Island. “MSC has had spectacular historical performance, but we firmly believe that its best days are ahead given several organic and add-on acquisition growth opportunities.”
Pat Murley, Chief Executive Officer of MSC, stated, “Bringing the Sky Island team into the mix will allow us to be more aggressive with add-on acquisitions and continue to grow the company. We had tremendous success augmenting the business through add-on acquisitions with the Sky Island team members in the past and we are excited to work with them again to reinvigorate those efforts.”
Sky Island (www.skyislandcap.com) is a lower middle market private equity firm based in Dallas, Texas that makes control investments in strategically viable North American manufacturing companies that exhibit transformational upside potential. Sky Island has over $100 million of assets under management and focuses on situations where it can draw upon its deep operational experience to support senior management in driving significant value creation through operational and strategic partnership, including add-on acquisitions. Sky Island is comfortable with and has a history of executing transactions with complex dynamics,including corporate carve-outs, public to privates, family-owned businesses, lender-controlled businesses, management buyouts, and other special situations.
Material Sciences (www.materialsciencescorp.com) produces advanced materials and specialty coated metals that are engineered to address lightweighting, noise, vibration, and harshness (“NVH”), corrosion, architectural, and aesthetic needs for a wide variety of end markets including transportation, building products, packaging, and consumer goods. Headquartered in metro Detroit, Michigan, Material Sciences has production facilities in Elk Grove Village, Illinois, East Chicago, Indiana, Walbridge and Canfield, Ohio and Toronto, Ontario.
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