Private Equity firm GenNx360 Capital Partners has purchased Horsburgh & Scott, which provides repair services and manufactures custom gears and gear drives.
Cleveland-based Horsburgh’s products and services are used by the industrial, mining, power and oil and gas industries. The company was owned by private equity firm Bolder Capital.
Bolder Capital is a partnership between the Edgewater Funds and JZ Capital partners Ltd.
GenNx, headquartered in New York, focuses on investing in industrial business-to-business middle-market companies. The firm invests in the industrial machinery, components, oil and gas, transportation, logistics, agricultural, chemicals and aerospace sectors. GenNx’s current investments include Hoppe Technologies Inc., Maine Machine Products Co. and Schramm Inc.The deal closed on March 28.
Harris Williams & Co. acted as financial adviser to Horsburgh & Scott.