H-D Advanced Manufacturing Co., a precision-engineered parts manufacturer backed by the Riverside Co. private equity firm, has acquired Numeric Machine Co., provider of machining services for oil and natural gas drilling.
Numeric, based in Edmonton, Alberta, in Canada, supplies components used in drilling motors. H-D Advanced Manufacturing was formed in 2012 by Riverside in partnership with Hicks Equity Partners and Weinberg Capital Group.
“Numeric is the ninth acquisition for H-D, and each of those companies opens more and more cross-selling opportunities,” says Tim Gosline, Riverside partner. Numeric joins the Mechanical Solutions, Intellifuse and Leading Edge Heat Treat subsidiaries of H-D’s engineered solutions group.
Terms of the Numeric transaction were not disclosed. Gowlings WGL LLP and Jones Day advised Riverside on the deal. H-D Advanced Manufacturing will continue seek add-on acquisitions, targeting companies that provide highly engineered components in energy drilling or production related applications, aerospace and defense industries, and other industrial applications, according to Riverside.
Riverside, which targets acquisitions valued at up to $400 million and has more than 80 companies in its portfolio, was Mergers & Acquisitions’ 2015 Seller of the Year. Recently Riverside invested in Huron, Ohio-based N2y LLC, developer of education curricula and teaching materials of for students with special needs in Kindergarten through the 12thgrade. The company offers the materials to teachers and school administrators through subscriptions to cloud-based software. Riverside, which has invested in 55 education and training companies, plans to expand N2y through adding new customers and products and add-on acquisitions. Riverside also recently added N-line Traffic Maintenance of Bryan, Texas, provider of temporary traffic management services, to its Area Wide Protective traffic control company. N-line was the second add-on acquisition to AWP since Riverside acquired the company in 2015. Riverside also recently reported plans to buy Momentum Group, a textile distributor, from Norwest Equity Partners. Pam Hendrickson, chief operating officer of Riverside, recently spoke to Mergers & Acquisitions about the M&A environment.