Dunes Point Capital, LP Announces the Sale of Standard Locknut, a Division of Industrial Group Holdings

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Nov 30, 2022, 07:00 ET

RYE, N.Y., Nov. 30, 2022 /PRNewswire/ -- Dunes Point Capital, LP ("DPC") has sold Standard Locknut, LLC ("SLN"), a division of Industrial Group Holdings, LLC ("IGH"), to Tonka Bay Equity Partners, a private equity firm based in Minnetonka, MN. Located in Indianapolis, IN, SLN is a manufacturer of specialized bearing components for critical function applications. SLN has a 70+ year operating history with strong brand recognition. The Company serves over five hundred customers in a diverse set of industrial markets. For more information, please visit www.standard-miether.com.

For DPC, Hennepin Partners served as M&A advisor, Kirkland & Ellis LLP served as legal advisor, and Alvarez & Marsal's Global Transaction Advisory Group served as financial advisor.

About DPC: DPC is a family office and private investment firm, pursuing control investments in companies operating in the general industrial and business services sectors. DPC targets companies with enterprise values of up to $1 billion. For more information, please visit www.dunespointcapital.com.

About SLN: SLN is a manufacturer of specialized bearing components for critical function applications. SLN has a 70+ year operating history with strong brand recognition. The Company serves over five hundred customers in a diverse set of industrial markets. For more information, please visit www.standard-miether.com.

About IGH: Founded in 2014, IGH is a holding company that included seven companies that DPC acquired in 2014. The seven original companies as well as add-ons were consolidated into five operating platforms, including Miller Chemicals, MultiSource Manufacturing, Ehrhardt Automation Systems, Haysite Reinforced Plastics, and SLN.

SOURCE Dunes Point Capital, LP