Snow Phipps Group has announced its acquisition of BlackHawk Industrial Distribution, Inc. from Brazos Private Equity Partners LLC. Financial terms of the agreement were not disclosed.
Oklahoma-based BlackHawk is an industrial supplier of cutting tools, abrasives, and MRO products that are used in manufacturing, aerospace and defense, energy, auto aftermarket, construction, general industrial, medical, and agriculture. BlackHawk Industrial is No. 27 on ID’s 2018 Big 50 list.
“We could not be more pleased with the success of BlackHawk,” Randall Fojtasek, current Managing Partner of CenterOak Partners and former Co-Founder and Co-CEO of Brazos said in a release. “We have a long track record of investing in specialty distribution businesses across numerous end markets and this transaction represents the successful execution of our investment thesis in the industrial distribution space. While completing five platform and 15 add-on investments for CenterOak, our team has also worked tirelessly to build BlackHawk and maximize value for our partners. We are thrilled with the outcome for our investors and for the management team, and we wish them continued success.”
According to officials, Snow Phipps will partner with the BlackHawk management team—led by CEO John Mark and CFO Karl Scott.
"BlackHawk is a differentiated platform with many of the characteristics we look for in industrial investments," John Pless, Partner at Snow Phipps, said in a release. "We look forward to building on the Company's strong reputation and unique market position to continue growing the business both organically and through highly strategic acquisitions."