Japan's Kobe Steel buys Quintus from Milestone

According to a release, the transaction was worth $115 million. Milestone acquired the company in April 2009 via its $240 million Milestone III fund, which made buyout and recapitalization investments under $150 million in size.

Founded in 1940, Quintus supports advanced materials industries through the provision of specialized presses. It is said to be the world’s leading supplier of isostatic presses, which are used in the production of high-performance metals for the aerospace and automotive industries. Sales improved from $51 million in 2015 to $61 million in 2016.

Kobe plans to leverage the acquisition to increase the profitability of its isostatic press business, which has had difficulty expanding in Asia during the past five years. The company expects Quintus to allow it to broaden its equipment offering and enter new growth markets. Quintus is currently active in Europe, the US and China.

Philadelphia-based Milestone manages three active funds which it claims represent more than $660 million in committed capital. The firm targets primarily North American lower middle market companies that are niche-market leaders and provide high-margin products or services.

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• Topics
• North Asia
• North America
• Industrials
• Trade sale
• Japan
• USA
• manufacturing
• Exit