XLCS Partners advises Hendrick Manufacturing on sale to Etnyre International

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Jun 04, 2024, 17:10 ET

NASHVILLE, Tenn., June 4, 2024 /PRNewswire/ -- XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as exclusive advisor to Hendrick Manufacturing (Hendrick), on its sale to Etnyre International Ltd (Etnyre).

XLCS Partners advises Hendrick Manufacturing on sale to Etnyre International

Hendrick was established in 1876 as a manufacturer of perforated metal screens, serving the oil filtration and coal industries. The company grew in size and scope, and in 1974, it expanded into other industrial screens, forming the Hendrick Screen division. With operating facilities in Carbondale, Pennsylvania, and Owensboro, Kentucky, Hendrick manufactures industrial perforated products, industrial wedge wire and profile bar screen products, and aesthetically pleasing architectural products for interior and exterior spaces. Serving over 750 customers across 15 diverse market segments in North America and 35 countries globally, Hendrick is the leading private provider of perforated metals and screen products.

Founded in 1898 and headquartered in Oregon, Illinois, Etnyre proudly manufactures a wide range of equipment that serves the asphalt roadbuilding industry, from asphalt distributors to chip spreaders and storage tanks to trailers. With this acquisition, the Etnyre group of companies now includes Hendrick, E.D. Etnyre & Co., SMF, and BearCat Mfg. This acquisition expands Etnyre's metal manufacturing presence in new markets.

At the end of 2020, XLCS represented SMF in its sale to Etnyre. SMF specializes in first-class machining and metal fabrication. The SMF acquisition diversified Etnyre's footprint in the manufacturing sector to serve existing customers and enter into oil and gas, power generation, and wind power industries.

XLCS acted as the exclusive M&A advisor to Hendrick, and the transaction was led by Bob Contaldo, Managing Partner and head of the firm's Metal Fabrication Industry Practice Group, along with Eric Schoendorf, Vice President, and David Silva, Associate. The transaction was completed on May 6, 2024.

About XLCS Partners, Inc.
XLCS Partners is an investment banking firm providing M&A advisory services to select clients globally. www.xlcspartners.com

Media Contact:
Kendra Span
[email protected]
615-379-7783

SOURCE XLCS Partners, Inc.