Middle market private equity firm Heartwood Partners invested in Hauppauge, NY-based Royal Products, a manufacturer and distributor of metalworking performance accessories.
Terms of the transaction were not disclosed.
“Heartwood and our management team are fully committed to preserving the exceptional customer service and distinctive family business values that set Royal apart in our industry,” Royal Products CEO Tom Sheridan said in a Sept. 16 news release.
The investment was finalized on April 12 in collaboration with the management team that will continue to oversee the company.
“Royal has developed an incredibly strong foundation over its 75+ year history through its dedication to best-in-class products and exceptional customer service,” Heartwood Partners Managing Partner Demetrios Dounis said. “We intend to drive future growth by leveraging the company’s well-established brand and market leadership to expand into new markets, both organically and through strategic add-on acquisitions.”
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