CHEVY CHASE, Md. - Farragut Capital Partners, LLC ("Farragut"), a Chevy Chase-based mezzanine investment firm offering customized financing solutions to lower-middle market private companies, is pleased to announce that its portfolio company Industrial Services Group, Inc. (“ISG”) has acquired K-Industries, Inc. (“K-Industries”). K-Industries, a pioneer in the field of fiberglass-reinforced plastics (“FRP”), will join ISG’s family of industrial services divisions under a new name: Compositech.
Based in Sumter, South Carolina, ISG is a leading industrial services company specializing in the application of high performance protective coatings and linings in process equipment. Its corrosion-control services are primarily used by the power generation, pulp and paper, and chemical industries to protect against erosion, corrosion, abrasion, and chemical attack. By bolstering Compositech’s expertise in complex laminates and FRP fabrication with its Unimech Mechanical Services Unit, ISG now offers fully integrated engineering, fabrication, and installation services to provide innovative solutions to the toughest corrosion-control challenges.
“We’re excited to see ISG increase the breadth its services through the addition of Compositech,” said Javier Aguirre, Partner at Farragut Capital Partners. “ISG and K-Industries share an unyielding commitment to customer service, and the combination of their talents promises to benefit their customers by offering a one-stop shop for corrosion-control and complex engineering solutions.”
About Farragut Capital Partners
Founded in 2011, Farragut Capital Partners, LLC is a private investment management firm providing mezzanine debt and equity capital to finance leveraged buyouts, generational transfers, growth capital financings, and recapitalizations. Its latest investment vehicle, Farragut Mezzanine Partners III, LP, held its final close in July 2013. Farragut seeks to invest up to $10 million in established middle-market companies with proven business models and consistent cash flows. The firm targets companies with strong, committed management teams and the potential for significant growth in equity value.
Farragut specializes in asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. The firm works with private equity groups, independent sponsors, senior lenders, and directly with owners and management teams to create and build value in its portfolio companies over time.