Gladstone Investment Corporation continued its support of portfolio company Specialized Fabrication Equipment Group (SFEG) with additional debt and equity capital to support its acquisition of CPMT Holdings Corp., and subsidiaries, including Climax Portable Machine Tools.
Headquartered in Newberg, Oregon, Climax is a leading designer and manufacturer of portable machine tools, welding systems, and valve testing and repair systems. The products are used for non-discretionary, on-site, high-precision machining of critical infrastructure assets and equipment.
SFEG designs and sells a suite of branded, specialty equipment for the fabrication and welding industry. Chief Executive Officer of SFEG, Vinay Varma, said, “The company is excited to add the Climax portfolio to the group of products we offer our customers and partners, and to join with such a strong management team at Climax to continue the growth of the combined company.”
Chris Lee, Managing Director of Gladstone Investment, said, “This acquisition creates significant value for SFEG and the Gladstone Investment portfolio and furthers our goal of creating value in the portfolio through meaningful add-on investments.”