Coal, Gas

Coating provider Sermatech acquired by private equity firm

2 March 2005 – Sermatech International, a service provider for the industrial gas turbine market, has been acquired by Arsenal Capital Partners for an undisclosed fee from Teleflex Incorporated.

Headquartered in Limerick, PA., USA, Sermatech has provided equipment manufacturers and suppliers with engineered coatings, special processes and component repair services.

Arsenal, a private equity firm that invests in middle market manufacturing and service companies, has a history of acquiring non-core businesses of large companies. The Sermatech investment will be its seventh portfolio company.

Managing director of Arsenal, Barry Sidat, said: “We will work closely with the Sermatech team to capitalize on the many opportunities that exist to enhance the company’s growth and profitability.”