AEA Investors SBPE Announces Closing of $384 Million Continuation Fund for Singer Industrial

Anchored by AEA Small Business Private Equity Funds, Apollo S3 and LGT Capital Partners Funds with Additional Commitments from New and Existing Investors

Transaction Supports Firm's Continued Ability to Drive Value Creation and Company Growth

NEW YORK, April 17, 2023 /PRNewswire/ -- AEA Investors ("AEA" or the "Firm") Small Business Private Equity ("AEA SBPE") team today announced the successful completion of a continuation fund with $384 million in capital commitments, and that the continuation fund has subsequently acquired a majority interest in Singer Industrial (the "Company"), a leading value-added distributor of industrial rubber and fluid power products, from AEA Investors Small Business Fund II LP ("SBF II") and its other owners. The fund is anchored by AEA Small Business Private Equity Funds, Apollo S3 and LGT Capital Partners-managed funds ("LGT CP Funds") and supported by other investors.

The investment from the continuation fund marks a strategic move to fuel Singer Industrial's sustained growth and expansion as a leading industrial rubber and fluid power platform, while accelerating its robust M&A strategy. With an extensive national presence, backed by strong local relationships, Singer Industrial caters to a diverse range of customers across the industrial maintenance, repair and overhaul industry.

Since SBF II's first investment in Singer Industrial in 2011, Singer Industrial has successfully completed nearly 30 acquisitions. The Company has also significantly enhanced its product and service offerings and added private label capabilities, while continuing to invest in business infrastructure. Singer Industrial strategically divested a segment of the business to position the Company as a market-leading, diversified industrial rubber and fluid power business.

"Singer Industrial is a clear market leader in the fragmented industrial maintenance, repair and overhaul distribution market," said AEA's Co-Head of Small Business Private Equity and Partner, Alan Wilkinson. "We are excited to continue to support the talented Singer Industrial team in their multifaceted acquisition and organic growth initiatives, including strategic investments in greenfields, digital lead generation and enhanced technology infrastructure. We are confident in the Company's ability to deliver against its long-term growth potential."

Jefferies LLC served as the secondaries adviser on the deal. Kirkland & Ellis LLP provided legal counsel to AEA SBPE. Weil, Gotshal & Manges LLP served as legal counsel for Apollo S3 and LGT CP Funds.

About Singer Industrial

Singer Industrial (formerly known as "SBP Holdings" or "SEI Holding Corporation") accelerates business with industrial solutions by providing hose, rubber, belt, fluid power and automation products and services throughout North America. More information can be found at singerindustrial.com.

About AEA

AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors and/or join its portfolio company boards or act in other advisory roles. Today, AEA's approximately 110 investment professionals operate globally with offices in New York, Stamford, San Francisco, London, Munich and Shanghai. The firm manages funds that have approximately $18 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies, growth capital and mezzanine and senior debt investments. AEA SBPE is a strategy within AEA that currently manages $2 billion of invested and committed capital. The team seeks to help grow and transform companies at the lower end of the middle market by sponsoring growing companies with strong management teams and superior business models.

About Apollo S3

S3 is Apollo's Sponsor & Secondary Solutions business. S3 provides flexible capital solutions to asset managers and limited partners across the yield, hybrid, and equity spectrum. Since inception, S3 has committed or deployed more than $13 billion across these strategies. S3 is a natural extension of Apollo's global investment platform, offering partner-oriented capital across asset classes including private equity, private credit, infrastructure and real estate. As of December 31, 2022, Apollo had total assets under management of approximately $548 billion.

About LGT Capital Partners

LGT Capital Partners is a leading alternative investment specialist with over USD 85 billion in assets under management and more than 600 institutional clients in 43 countries. An international team of over 700 professionals is responsible for managing a wide range of investment programs focusing on private markets, liquid alternatives, and multi-asset class solutions. Headquartered in Pfaeffikon (SZ), Switzerland, the Firm has offices in San Francisco, New York, Dublin, London, Paris, Vaduz, Frankfurt am Main, Luxembourg, Dubai, Beijing, Hong Kong, Tokyo, and Sydney.

Investor Contact

AEA Investors
Investor Relations
+1 (212) 644-5900
[email protected]

Media Contact

Kate Thompson / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
+1 (212) 355-4449
[email protected]

SOURCE AEA Investors