Phillips Screw Company Completes Management Buyout
The Phillips Screw Company Completes Management Buyout
(November 17, 2015) The Phillips Screw Company (“Phillips” or the “Company”), a world leader in the design and engineering of proprietary high-performance drive systems for fastening applications, announced today it has completed a management led buyout of the Company. Management partnered with Gemini Investors, a private investment firm focused on investing in middle market companies, to complete the transaction.
Known for its iconic brand, Phillips has been a world leader in innovative fastener drive systems since its founding in 1933, supplying solutions to fastening challenges in aerospace, automotive, construction, industrial and other markets. The Company brings significant benefits and savings to customers and users worldwide, through design and distribution, and the application of an exceptional portfolio of patents and trademarks.
“This transaction places Phillips on the path to continued success, as we expand our solutions to customers and users worldwide,” said Ken Hurley, President & CEO of Phillips. “We’re excited about executing on the many growth opportunities in front of Phillips with the help of our new partners at Gemini.”
Financing was also provided by Enterprise Bank and Massachusetts Capital Resource Company. Terms of the transaction were not disclosed.
About Phillips Screw Company
Phillips Screw Company, Inc. is a world leader in the design and engineering of proprietary high-performance fastener drive systems. The company was founded in 1933 and is based in Burlington, Massachusetts. For more information, visit www.phillips-screw.com
About Gemini Investors
Gemini is a Massachusetts-based investor in middle market private companies. Since its founding in 1993, Gemini has invested over $500 million in more than 120 companies throughout the U.S., acquiring both minority and control positions. Currently investing their sixth private investment fund, Gemini seeks to invest in established businesses with significant growth potential and strong management teams. For more information, visit www.gemini-investors.com.