Forsyth Capital continues aggressive pursuit of strategic growth with sixth add-on acquisition

Acquisition of Steeger USA by Machine Solutions Represents Forsyth’s Fourth Add-on Acquisition this Year and Sixth Overall

ST. LOUIS, MO — December 23, 2014 — Forsyth Capital Investors, LLC (“Forsyth Capital”), an investment firm targeting the manufacturing and insurance services sectors, announced the acquisition of Steeger USA by its portfolio company, Machine Solutions Inc. (“Machine Solutions”). Headquartered in Spartanburg, SC, Steeger USA is the leading manufacturer of braiding equipment for the medical device and other high precision industries. Steeger USA will join the Machine Solutions family of companies, significantly expanding the newly combined company’s range of products and services across its three brands: MSI, Vante and Steeger USA. Steeger USA was exclusively represented by the Greenville, SC based investment bank, The Capital Corporation.

Forsyth Capital is focused on making long-term investments in middle-market companies operating in the capital equipment, component manufacturing and insurance services sectors. The firm is committed to a buy and build approach and long-term investment horizon, where they seek to partner with management to establish market leading companies in the sectors where they operate. Since inception, Forsyth Capital has made three platform investments and six add-on acquisitions, supporting their long-term, growth focused strategy. Forsyth Capital completed all six add-on acquisitions in the past sixteen months, showcasing the firm’s ability to identify, execute and complete highly strategic acquisitions on a consistent basis.

Forsyth Capital’s first acquisition took place in April 2011, when they partnered with management to acquire Engle Martin & Associates. Engle Martin is a leading national independent loss adjusting and claims management provider committed to meeting the ever-changing demands of the insurance industry and delivering consistent and quality claims service. Forsyth Capital and Engle Martin have completed three add-on acquisitions. PT&C Forensic Consulting was acquired in November 2013, followed by Totura & Company in March 2014 and LWG Consulting, Inc. in December 2014.

Machine Solutions, a leading provider of innovative and proprietary mechanical solutions to the medical device industry was acquired by Forsyth Capital in November 2011, as the firm’s second platform investment. Since November 2011, Forsyth Capital has completed two add-on acquisitions, Vante Inc. in September 2013 and Steeger USA in December 2014.

In March 2012, Forsyth Capital established its third new platform with the acquisition of Baldwin Technology Company, Inc., a leading global supplier of process automation equipment for the printing, packaging and other industrial segments. Baldwin Technology and Forsyth Capital completed their first add-on acquisition in January 2014 when they purchased Web Printing Controls. 


Download PDF