Private equity firm Altus Capital Partners has acquired Gulf Coast Machine and Supply Co. for an undisclosed amount.
Gulf Coast, headquartered in Beaumont, Texas, provides forging services to the energy and industrial markets.
Prospect Capital Corp. (Nasdaq: PSEC) provided a $42 million senior-secured loan for the deal.
Gulf Coast was owned by private equity firm Industrial Opportunity Partners. The Evanston, Ill.-based firm focuses on middle-market manufacturing and distribution businesses with sales between $30 million and $350 million. Industrial Opportunity has $460 million in committed capital.
Wilton, Conn.-based Altus’ portfolio companies include Models & Tools Inc. and International Imaging Materials Inc. This is Altus' third acquisition from Altus capital Partners II LP, which closed in October 2011 with $200 million in committed capital.
Harris Williams & Co. advised Gulf Coast on the deal.