August 17, 2015 – Nashville-based private equity firm Gen Cap America has acquired a maker of equipment for metal joining from a $10 billion Swedish holding company.
Gen Cap’s deal for Canfield Technologies, which is based in New Jersey, is worth about $23 million in cash. Canfield makes solder, pastes and preforms for metal joining uses in the electronics, plumbing and jewelry industries and last year rang up revenues of $17 million.
Canfield had been under the SKF umbrella, operating as a stand-alone business, since the Swedish conglomerate bought Kaydon Corp. almost two years ago. The company becomes the 20th company now in Gen Cap’s portfolio, joining many other traditional manufacturing businesses. Check out the full list of Gen Cap holdings here.