Milwaukee-based investment bank Bridgewood Advisors has sold Bristol-based Anderson Manufacturing Co. to a Michigan private equity firm.
Bloomfield Hills, Mich.-based BlackEagle Partners acquired Anderson for an undisclosed price to continue growing its cold forming technology holdings.
Anderson Manufacturing, which has about 50 employees running three shifts out of its 52,000-square-foot facility, makes parts and offers some secondary operations for automotive manufacturers. Its products include complex cold formed terminals, pins, semi-tubular rivets, shoulder rivets, screws, contacts, threaded forming screws, self-tapping screws, clinch studs and anti-cross threaded product.
Anderson also serves the electronics, medical, furniture, battery, appliance, houseware and hardware industries. It will retain its brand name, employees, management team and operations in the transaction. Roy Anderson, the founder of Anderson, will retire.
BlackEagle expects to grow Anderson through the use of its portfolio, increasing its operational capabilities and introducing new products.
“The value we place on our partnership with our customers and vendors will continue,” said Tim Cash, senior vice president of Anderson Manufacturing, who will continue to lead the company. “Our customers’ points of contact will remain the same, and we will continue to supply them with superior cold headed products on time.”
