THE WOODLANDS, Texas and SEATTLE, March 21, 2017 /PRNewswire/ -- Trive Capital ("Trive"), the Dallas-based private equity firm, is pleased to announce that its portfolio company, Valence Surface Technologies ("Valence"), has acquired Magnetic & Penetrant Services Company ("MAPSCO"). Based in Seattle, Washington with two facilities, MAPSCO provides metal finishing services to the Aerospace and Defense industries as a mission-critical supplier in the Aerostructure Supply Chain. MAPSCO complements Valence's extensive service offering which includes non-destructive testing, anodizing, chem-film, precious metal plating, spray coatings, painting/top-coat and shot peen services to leading Aerospace OEMS and their machining suppliers.
Frank Milette, Owner of MAPSCO shared, "Valence provides the expertise and partnership I was looking for when determining the strategic direction and longer term future of my family business. We are excited to have partnered with a larger company that we believe clearly understands the metal finishing business and how to strategically invest, grow and establish a clear leadership position in our market." Mr. Milette further added, "I very much look forward to working closely with the Valence leadership team and to becoming what we hope to be the largest and most valued supplier of metal finishing services in the Pacific Northwest Region, while also having some fun doing it."
Tracy Glende, Valence Chief Executive Officer, commented, "The addition of MAPSCO to the Valence platform will allow us to better serve the needs of our customers throughout the global supply chain, especially in the critical Pacific Northwest Region." Mr. Glende further commented, "MAPSCO provides Valence with a fully integrated offering to its customers ranging from small, high volume parts up to large, 30 foot fracture-critical structures. Moreover, our breadth of approvals and capabilities, along with recent investment in capacity and systems, significantly reduces waste in what was previously a fragmented, inefficient portion of the supply chain."
David Stinnett, Partner at Trive Capital stated, "We believe this acquisition creates a differentiated supply chain offering to the aerospace industry that should significantly reduce cycle times, decrease supply chain complexity and provide a single point of accountability and partnership." Mr. Stinnett further commented, "Trive, Tracy and the rest of Valence management were able to offer a creative transaction structure and unique vision for MAPSCO that ultimately made us the preferred partner to Frank and his team."
About Valence Surface Technologies
With 10 Locations, over 530,000 sq ft. of manufacturing space, over 2,500 unique industry approvals and over 15 Million parts processed per year, Valence Surface Technologies is the world's largest independent provider of Aerostructure surface technology services. The Company provides specialized metal processing and finishing services to a diversified set of fast growing commercial aerospace, defense, and space/satellite markets, delivering best-in-class quality, turn times and supply chain partnership.
About Trive Capital
Trive Capital is a Dallas, Texas-based private equity firm investing in equity and debt securities with approximately $900 million in capital under management. Trive focuses on investing in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. Trive seeks to maximize total returns to its investors through a hands-on, collaborative partnership with management teams and equity partners.
SOURCE Valence Surface Technologies