Altus Capital Partners, along with Centerfield Capital and ALM Positioners’ senior leadership team, have announced the acquisition of the Rock Island-based ALM.
The deal was announced by the three companies in a joint news release Monday, April 7. Financial terms of the transaction were not disclosed.
ALM Positioners, located in the Southwest Rock Island Industrial Park, is a provider of automated positioning equipment used by leading manufacturers to hold, rotate, and precisely position workpieces during welding, assembly or other fabrication processes. The company provides custom-built solutions and has a broad portfolio of branded standard products for the various industries it serves.
“We are extremely excited about the opportunity to work with Altus Capital Partners to accelerate growth and create additional value for our customers,” ALM President and CEO Pat Pollock said in the release.
“Combining our history, assets, and people with the investment and energy of Altus Capital Partners gives all of us at ALM a great feeling of optimism for the future,” he added.
In an email to the QCBJ, Altus said “ALM’s senior management has invested alongside Altus Capital Partners and Centerfield Partners … and ALM executives will be part of the management team.”
The transaction comes less than three years after a Management Buyout (MBO) at ALM. In July of 2022, the company announced the successful completion of the MBO, which included investments by McCarthy-Bush Corporation, Konza Valley Capital, Inc., and ALM management.
ALM was represented in the latest transaction by Prairie Capital Advisors Inc., based in Oak Terrace, Illinois.
Last fall, ALM Positioners was named to the Quad Cities Regional Business Journal’s 2024 Fastest Growing Companies list with 65.76% growth in revenues from 2020 to 2022.
“Altus is pleased to partner with a globally recognized manufacturer of technology-advanced automated positioning equipment used by manufacturing companies, and we look forward to working alongside ALM’s management team to support its growth plans,” Greg L. Greenberg, Altus senior partner, said in the release. “We recognize and value management’s capabilities in our partnership as it aligns with our investment strategy to grow and continue to strengthen the company’s industry position and end-market diversification.”
Altus Capital Partners, based in Wilton, Connecticut, is a private equity firm that makes control investments in middle-market niche manufacturing businesses.
“ALM’s products directly support the U.S. manufacturing sector and help facilitate re-shoring initiatives by enhancing the safety and efficiency of a wide variety of production processes. Altus is focused on investing in the U.S. manufacturing sector, so ALM is an ideal partnership for us,” added Thomas R. Groh, partner of Altus Capital Partners. “We are looking forward to partnering with the ALM team and its talented employees to continue to drive strong sales and support their long-term growth initiatives.”
Faraz Abassi, managing partner of the Indianapolis-based Centerfield, stated, “We are thrilled to partner with Altus on investing in another exciting manufacturing business. We strongly believe in ALM’s differentiated value proposition and look forward to further supporting its future growth. We have a long history with Altus and this investment represents a continuation of our successful partnership.”
“We are extremely impressed with the management team at ALM and look forward to tracking the company’s future success,” Mr. Abassi added.
Centerfield, a provider of capital to lower middle market companies, works with financial sponsors, management teams, and business owners seeking strategic capital to build companies and create value.
