Farragut Invests in Mike Alexander Company
CHEVY CHASE, MD – Farragut Capital Partners (“Farragut”) is pleased to announce the closing of an investment in Mike Alexander Company, Inc. (“MALCO” or the “Company”). Farragut invested unitranche debt and equity, alongside Parkway Capital (“Parkway”), in support of the acquisition of MALCO by Sidereal Capital Group (“Sidereal”), a New Jersey-based independent sponsor.
Founded in 1982 and headquartered in Tulsa, Oklahoma, MALCO is a leading manufacturer and distributor of hardware anchors specifically designed to secure refractory linings for industrial furnaces, kilns, reactors, boilers, and other high temperature environments found in petrochemical plants, cement and steel manufacturing, and power generation facilities. The Company also fabricates structural metal assemblies such as flare systems, pressure vessels, storage tanks and processing equipment. The investment will enable MALCO to pursue growth initiatives while providing liquidity to the owner, Mike Alexander. Mike Alexander’s son, Micha Alexander, will serve as the President and will focus on business development and operations.
Phil McNeill, managing partner of Farragut, said of the transaction, “We are excited to partner with Micha Alexander and with the Sidereal team for a second time to support MALCO in its next stage of growth. MALCO has established itself as a dependable leader in the refractory anchor industry and an emerging name in the specialty metals fabrication industry; we look forward to its continued growth.”
Micha Alexander, President of MALCO, added, “The Farragut team took the time to understand the unique characteristics of our business and what makes it special. We are truly excited by this partnership which will position us to enhance the value we provide our customers and capitalize on a number of growth opportunities that lie ahead.”
MALCO joins Farragut’s growing portfolio of niche metals manufacturing and fabrication investments including ARC Drilling, Inc. and Precision Metal Holdings.
For more information on MALCO, please visit www.malco-pc.com