Genstar Capital has sold spare parts and attachments manufacturer Woods Equipment Company for $185 million to Blount International, the firm said in a statement.
The San Francisco-based private equity firm generated a 3x return on invested capital on the sale, a source close to the firm said. Genstar purchased the company for around $100 million in 2004, the source said. Terms of the original transaction were not disclosed.
Last year, the firm scored a reported 7.8x return when it sold decorative labels provider Fort Dearborn for around $520 million to KRG Capital Partners.
As of March, Genstar was in the process of raising its sixth fund, which is targeting $1.5 billion. Its $1.6 billion predecessor, Genstar Capital Partners V, was generating a 0.58 percent internal rate of return as of 30 September 2010, according to California Teachers’ Retirement System documents.
Genstar typically focuses on mid-market companies in the life sciences, healthcare, financial services, software and industrial technology sectors.