August 29, 2011
Heckethorne Manufacturing Company, a portfolio company of Renovo Capital, has acquired substantially all the assets of Erisco Industries Inc. Senior debt financing for the acquisition was provided by First Tennessee Bank.
Heckethorne was acquired by an affiliate of Renovo Capital in 2009 and is an industry leader in the design and manufacture of solid rod, tubular and stamped components and welded assemblies for the automotive and other industries.
ERISCO Industries, operating since 1938, is a leading supplier of wire formed products to industries including toys, lawn and garden, and consumer products. The company has manufacturing facilities in Erie, Pennsylvania and Monterrey, Mexico. ERISCO is ISO 9001:2008 registered.
The combination of ERISCO and Heckethorn will enable the companies to combine their rich histories and technical expertise related to wire formed products to serve multiple industries. The new, larger entity will also possess broader manufacturing capabilities and a more strategic geographic footprint. Both companies look forward to continuing to provide customers with excellent quality, delivery, and service while also offering competitive pricing. Both ERISCO and Heckethorn will continue to do business under their longstanding brand names.
Heckethorne Manufacturing is jointly owned by Renovo Capital and Rosewood Private Investments. Renovo Capital is a private equity firm whose primary focus is on operating turnarounds, bankruptcy reorganizations, debt purchases and out-of-court restructurings for companies in the manufacturing, distribution and service industries. Rosewood Private Investments is the private equity arm of The Rosewood Corporation, a prominent family-owned company with diverse, worldwide operations and investments.
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