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.

Orangewood is a New York-based private investment firm that pursues long-term credit and equity investments. The firm was founded in 2015 by Alan Goldfarb, a former principal at the Carlyle Group LP (Nasdaq: CG). Orangewood has previously invested in cell phone tower company K2 Towers and real estate financial services firm Peaceable Street Capital.

There has been robust deal activity among metal parts companies. Graycliff Partners backed sheet maker A-1 Machine Manufacturing Inc.; Liberty Hall Capital Partners acquired aerospace parts supplier ZTM Inc.; and LFM Capital has taken a stake in hydraulic clamps maker Vektek LLC.

Jefferies LLC, Fried Frank Harris Shriver & Jacobson LLP along Honigman Milker Schwartz and Cohn LLP advised Orangewood. Hinman Howard & Kattell LLP represented George Industries.

Manufacturing industry