Speyside Equity Advisers has completed the acquisition of The TAPCO Tube Company, adding a Midwest manufacturer of steel tubing and building products to its portfolio of middle-market industrial businesses.
TAPCO operates through the Tapco Tube and Akron Building Products brands. The company traces its history to the 1940s, when it began manufacturing branded jack and column supports before expanding through vertical integration into electric resistance welded steel tubing.
Today, the Tapco Tube segment supplies steel tubing to construction contractors, distributors, original equipment manufacturers, and customers across infrastructure, agriculture, and general industrial markets. Akron Building Products manufactures jacks and columns used primarily in residential renovation and new construction and sells through home improvement retailers and regional hardware distributors.
The company operates a manufacturing facility in Meadville, Pennsylvania.
Speyside plans to support TAPCO’s next phase of growth through operational investment. The private equity firm identified opportunities to improve plant throughput, expand TAPCO’s mix of value-added products, and increase the reach of its building products business.
The transaction fits Speyside’s strategy of investing in manufacturing and value-added distribution companies, including family-owned businesses, carve-outs, industry consolidations, and other special situations. The Detroit-based firm takes an operational approach to its portfolio and typically invests in people, equipment, processes, and growth initiatives after closing.
TAPCO President David Schrader will continue helping lead the business as it enters the new ownership structure. Speyside said the company’s long operating history, loyal customer base, and established manufacturing capabilities provide a foundation for additional investment.
Honigman served as legal advisor to Speyside. The DAK Group served as financial advisor to TAPCO in connection with the transaction.
The acquisition broadens Speyside’s exposure to businesses serving construction, infrastructure, residential renovation, and industrial end markets through domestically manufactured steel and building products.
KEY QUOTES:
“TAPCO is a great addition to our portfolio. It’s a well-established manufacturer with loyal customers and meaningful opportunity to improve plant throughput, expand its value-added product mix, and grow its building products channel. We look forward to partnering with the team to invest in the people and equipment needed to take the business to its next level.”
Nicholas Lardo, Managing Director At Speyside Equity
“We are excited to begin this next chapter for TAPCO in partnership with Speyside while continuing to build on the legacy we’ve established over the past several decades.”
David Schrader, President Of TAPCO
