Orangewood Partners has acquired a majority stake in metal fabricator maker George Industries LLC. The target’s management team, led by co-founders Mark and Dan Ciaravino, will keep a “significant” stake in the company. Financial terms were not disclosed.
Endicott, New York-based George Industries was founded in 1954 as a metal fabrication shop. The company has since expanded its services to include welding, laser cutting and mechanical assembly for the aerospace, transportation and industrials sectors. The target will use the investment from Orangewood towards expansion.