MIAMI, FL – (March 25, 2014) Trivest Partners (“Trivest”) today announced the successful completion of its recapitalization of Northfield Industries, LLC (“Northfield” or the “Company”), a rapidly growing Founder-owned manufacturer and distributor of precision machined components for the agricultural and industrial equipment markets. Charles Vogl and Northfield’s current management team will continue to lead the Company’s daily operations. Trivest will assist Northfield in sourcing and executing add-on acquisitions to broaden the Company’s product lines and end market capabilities. Northfield represents the 3rd platform company investment in Trivest Fund V, a $415 million fund.
Headquartered in Schaumburg, Illinois and founded in 2002, Northfield specializes in the manufacturing of hubs, spindles, jacks and other customized components for tractors, forklifts, plows, spreaders and other farm equipment. Northfield is an indispensable supply chain partner to a blue-chip customer base that includes nearly every major agricultural equipment manufacturer and leading industrial OEMs. The Company’s best-in-class manufacturing capabilities, just-in-time customer inventory management and superior customer service has resulted in consistently strong growth over the past five years.
Charles Vogl stated, “My partners and I are very excited about Northfield’s partnership with Trivest. We believe that Northfield will benefit from Trivest’s unique perspective and experience in completing add-on acquisitions. From the beginning, we felt that Trivest was the right partner for the Company and we appreciated their honesty and transparency throughout the process. With Trivest, Northfield is poised to continue to grow and provide superior service to our customers.”
Jamie Elias, Chairman of Northfield and Trivest Partner, stated “We are pleased to have partnered with the Northfield team and we look forward to helping the Company continue its long track record of growth and success. Northfield aligns perfectly with our strategy to partner with growing, Founder-owned, lower middle market businesses. Charles and his team have demonstrated a commitment to excellence that has yielded impressive results. We look forward to building on the foundation that Northfield has created throughout its history.”
About Trivest Partners:
Trivest Partners is a private investment firm that focuses on partnering with founder/family-owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 200 transactions, totaling over $5.0 billion in value. For additional information, please visit www.trivest.com.