Dallas, Texas – September 9, 2019 – Sky Island Capital (“Sky Island”), a Dallas-based lower middle market private equity firm, is excited to announce that its portfolio company, Material Sciences Corporation (“MSC”), recently rang the opening bell at the Nasdaq. The bell ringing ceremony on August 27th was a celebration for winning the 2019 Altair Enlighten Award for MSC’s revolutionary Smart Steel® product, a multi-layer light-weighting replacement for steel in automotive vehicle body applications. The Altair Enlighten Award is given to companies leading the effort to reduce vehicle weight and meet emissions targets. This is the second prestigious award that MSC has won for Smart Steel® this year as MSC also won the Automotive News PACE Award in April. The PACE program honors automotive suppliers for advanced levels of technical achievement, superior innovation, and business excellence.
“We are thrilled to be recognized for our innovation in material sciences and our evolutionary product, Smart Steel®,” remarked Pat Murley, a Partner of Sky Island and the Chief Executive Officer of MSC. “The product speaks for itself and we look forward to increased adoption across automotive platforms and continued growth in the years to come.”
Jack Waterstreet, the Managing Partner at Sky Island, stated, “We are honored to be invested in a company like MSC that is making innovative products like Smart Steel®. We look forward to continuing to invest in similar ground-breaking technologies at MSC and our other portfolio companies.”
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 $125 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.