Westfield, IN – Standard Locknut, LLC (“SLN” or the “Company”), a division of Dunes Point Capital, LP’s portfolio company Industrial Group Holdings, LLC, has been acquired by Tonka Bay Equity Partners. Hennepin Partners served as Standard Locknut’s exclusive financial advisor. Terms of the transaction were not disclosed.
Based in Indianapolis, IN, Standard Locknut is an engineering-driven provider of critical bearing components and related wear-parts to diversified industrial end-markets. A large installed base with regular MRO requirements drives significant recurring demand. The Company serves as a trusted domestic manufacturing partner to its customers, delivering high-quality bearing components including pillow blocks, adapter sleeves and locknuts. The company’s high-quality parts, engineering ability and high-touch customer service creates long-lasting customer relationships across a diverse set of industrial markets.
David Zimmer, CEO of Standard Locknut, said, “This acquisition and the opportunity to partner with Tonka Bay is an exciting step for our business, employees and customers to take the Standard Locknut business to the next level. The Hennepin Partners team was an invaluable resource and partner, helping us to prepare for, and execute the sale process. Hennepin’s team of bankers provided the transaction expertise and industry knowledge necessary to achieve a successful outcome for the shareholders.”