Capstone Partners Advises Garlock Pipeline Technologies (GPT) on Sale to Branford Castle; Simultaneously Completes Sale Leaseback of Manufacturing Facility to Maximize Shareholder Value
Capstone executes multi-faceted carve-out of Garlock Pipeline Technology’s operations while simultaneously closing an accretive sale leaseback of the Company’s facility, anticipates heightened demand for multi-prong deals in 2023.
Denver, CO – Capstone Partners, a leading middle market investment banking firm, advised on the closing of two simultaneous transactions on January 30th in what it views as a precursor to a growing trend. Enpro (NYSE:NPO) sold its Garlock Pipeline Technologies business unit (“GPT” or the “Company”), the world’s leading manufacturer of critical pipeline sealing and electrical isolation products, to Branford Castle Partners. Additionally, GPT completed a sale leaseback of their manufacturing facility with Tempus Realty.
Capstone leveraged its in-house real estate advisory to simultaneously complete the sale-leaseback transaction and anticipates that simultaneous transactions such as this one will become more common in the face of recessionary pressures as companies pursue unique approaches to raising capital and maximizing transaction value.
Based in Denver, Colorado, GPT produces critical-service flange isolation kits (FIKs) and monolithic isolation joints (MIJs) for oil, natural gas, and water pipeline applications globally. Prior to Branford’s acquisition, GPT was an operating division of EnPro Industries. GPT’s patented, highly engineered products help prevent the leading causes of pipeline failures and protect against potential explosions, fires and pollution. GPT’s “Pikotek” brand is known as the pioneer of the flange isolation gasket industry and is recognized as the original brand to have introduced FIKs to the broader market in the 1980s.
Read more about the transaction here.
ABOUT BRANFORD CASTLE PARTNERS
Branford Castle is a private market investor focusing on lower-middle-market investments, with a more than 30+ year history of helping to grow businesses. The firm typically makes control investments in companies with less than $15 million of EBITDA and a leadership position in a niche industry. Branford is particularly keen on the strong relationships it develops with its portfolio company managers. Branford has expertise in industrials/specialty manufacturing, consumer products, business services, and logistics. For more information, visit www.branfordcastle.com.
ABOUT TEMPUS REALTY PARTNERS
Tempus Realty is an Arkansas-based real estate investment partnership focused on acquiring and developing commercial real estate in the South, Southeast and Midwest. The company’s aim strategy is to create a series of acquisitions for investors that leverage the local Tempus relationships in target cities. Tempus teams with best-in-class local developers, property managers and leasing agents to create value for investors, while offering unique opportunities to select deals that fit each investor’s specific investment goals. For more information, visit www.tempusrealty.com.
ABOUT CAPSTONE PARTNERS
For over 20 years, the firm has been a trusted advisor to leading middle market companies, offering a fully integrated range of investment banking and financial advisory services uniquely tailored to help owners, investors, and creditors through each stage of the company’s lifecycle. Capstone’s services include M&A advisory, debt and equity placement, corporate restructuring, special situations, valuation and fairness opinions, and financial advisory services. Headquartered in Boston, the firm has 175+ professionals across the U.S. With 12 dedicated industry groups, Capstone delivers sector-specific expertise through large, cross-functional teams. Capstone is a subsidiary of Huntington Bancshares Incorporated (NASDAQ: HBAN). For more information, visit www.capstonepartners.com.
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