PCM Companies Adds Platform with Investment in Suburban Manufacturing
PCM Companies (“PCM”) is pleased to announce an investment in Suburban Manufacturing Group, LLC (“Suburban”).
Based in Monticello, Minnesota, Suburban is a diversified manufacturer of industrial equipment and textiles for the Fluid Power industry. Suburban is best known for its three market-leading brands: Tsunami Compressed Air Solutions, LubeMinder Automatic Oil & Grease Systems and Python Protective Sleeves + Covers. The Company serves hundreds of customers, including globally-recognized OEMs across the Agriculture, Construction and Industrial Products markets.
Steve Halverson, Partner at PCM Companies, said “Suburban is an industry leader in the fluid power space providing high quality components and accessories to a broad array of customers. We are delighted to partner with Suburban’s management team and employees to continue to build off the Company’s long history of success.”
Suburban’s management team, led by Chase Marshall (CEO) and Rick Barger (COO), will continue to run the Company.
Mr. Marshall added: “We are thrilled to partner with PCM in this next chapter of growth at Suburban. We believe we’ve built a differentiated company and product offering; PCM shared this view and their philosophy aligned perfectly with ownership and the management team’s goals for the future. Through the partnership, Suburban’s commitment to excellence will remain unchanged, with additional doors being opened by PCM’s past experiences across other Midwest niche manufacturing portfolio companies. As we expand the business, we believe PCM will be a thoughtful, long-term partner for years to come.”
Financing was provided by Tradition Capital Bank. PCM was advised by Taft Stettinius & Hollister, LLP.
About PCM Companies
Founded in 1998, PCM Companies is a Twin Cities based private investment firm focused on investing in businesses that make up the backbone of our economy. We are not a private equity fund; we are patient investors focused on partnering with founders and management teams to continue building and growing exceptional businesses. Our flexible investment horizons are determined by the underlying businesses we partner with, not the lifecycle of an investment fund. We are actively seeking new platform investments across a variety of industries, including manufacturing, diversified industrials and business services. For more information on our investment focus, please visit our website.