ZSi-Foster, an Ideal Tridon Company, Completes Acquisition of Hydra-Zorb
Bringing Together the Leaders in Pipe, Hose and Tube Clamping
CANTON, MI and AUBURN HILLS, MI June 25, 2020 - ZSi-Foster, Inc. ("ZSi-Foster"), an Ideal Tridon company, announced that it has completed the acquisition of Hydra-Zorb Company ("Hydra-Zorb"). Terms of the transaction were not disclosed.
Headquartered in Auburn Hills, MI, and founded in 1972, Hydra-Zorb is an industry leader in pipe, hose, and tube clamping for the hydraulic, HVAC, plumbing, and refrigeration markets. Widely recognized for the invention of the cushioned clamp, Hydra-Zorb's continued innovation and focus on quality and service has driven the company's success supporting industrial customers throughout the US and Canada. Hydra-Zorb manufactures all products from its state-of-the-art manufacturing facility in Auburn Hills.
"The Hydra-Zorb organization is excited to bring our products into the ZSi-Foster and Ideal Tridon family," said Bob Dodge, CEO of Hydra-Zorb. "This transaction combines our deep industry and product knowledge with that of ZSi-Foster and Ideal Tridon and provides our customers with complementary brands that represent the best clamp, pipe, hose support, and HVAC accessory products available on one comprehensive platform. The combination puts a stamp on our company legacy and will add tremendous value to our customers."
ZSi-Foster, acquired in 2019 by Ideal Tridon, a portfolio company of Snow Phipps Group ("Snow Phipps"), serves a diverse set of end markets by offering a broad portfolio of highly engineered clamp, coupling, and strut support systems. The acquisition of Hydra-Zorb is the most recent acquisition for Ideal Tridon and uniquely positions the combined company to serve customers with an unmatched industrial product portfolio.
"We have great respect for the Hydra-Zorb organization. Their strong products and commitment to quality and service align well with the Ideal Tridon mission. Their innovation with the original Hydra-Zorb clamp and Klo-Shure insulation clamp along with recent product additions designed for the high growth mini-split market is a testament to their vision. Together with ZSi-Foster and the companies in the Ideal Tridon Group, we now offer our customers a complementary and expansive range of the top clamping, hose and pipe support products in the world," said Rick Stepien, CEO of Ideal Tridon. "We could not be more excited about the future."
Parker Poe Adams & Bernstein LLP served as legal counsel to Snow Phipps and Angle Advisors, LLC served as financial advisor to Hydra-Zorb in the transaction.
About Ideal-Tridon
Ideal Tridon, headquartered in Smyrna, Tennessee, is a leading global designer and manufacturer of engineered components supporting and connecting the movement of air, fluid, and electricity. Ideal's clamps division designs and manufacturers stainless steel and specialty clamps for a broad range of fastening and sealing applications across diverse end markets and channels, including Original Equipment Manufacturing (OEM) operations and Replacement Market warehouses, distributors and retail businesses. Through the acquisition of ZSi-Foster in June of 2019 Ideal has expanded its clamps and support systems offerings to include additional highly engineered, mission-critical clamps, fittings, couplers, and strut and metal support systems. These products are found in demanding environments across diversified end markets, including general industrial, fluid power, HVAC, refrigeration, and electrical markets. The Company manufactures and distributes its products globally from facilities in North America, Europe, and Asia. For more information about Ideal Tridon and ZSi-Foster, visit www.idealtridon.com and www.ZSi-Foster.com.
About Hydra-Zorb
Hydra-Zorb was founded in 1972 and has been the leader in the strut mounted clamp market for 50 years, offering a wide variety of solutions when shock, vibration, and corrosion are a problem. As the originator of the cushion clamp assembly, Hydra-Zorb is the name to request in the fluid power, pneumatic, refrigeration, and HVAC industries. Hydra-Zorb was founded on three principles: best product, best service, and absolute customer trust. To learn more about Hydra-Zorb, visit www.Hydra-Zorb.com.
About Snow Phipps Group
Snow Phipps is a private equity firm focused on lower middle-market control investments with $2.4 billion of total capital commitments raised since its founding in 2005. The firm generally focuses on companies in attractive sub-sectors across the Industrials, Services, and Consumer industries and targets platform investments with enterprise values ranging from $100 million to $500 million. The Snow Phipps investment team collaborates with its Operating Partners and portfolio management teams to create value through an operationally focused strategy often led by organic or acquisition-driven growth. To learn more about Snow Phipps, visit www.snowphipps.com.
