Peak Rock Capital, an Austin, Texas-based private equity firm, has acquired New York aerosol valve maker Precision Valve Holdings Corp. for an undisclosed sum, according to a statement.
As part of the deal, Peak Rock will take control of the middle market business with operations in 16 countries on six continents, where it provides its industrial products to multinational consumer goods companies. While financial terms weren't released, Peak Rock manages a $700 million fund (2013 vintage) that typically makes $20 million to $150 million equity commitments in deals valued up to $500 million.
Anthony DiSimone, chief executive officer of Peak Rock Capital, said the investment reflects the firm's focus on investing in packaging-related companies that serve high-growth consumer, personal care and pharmaceutical end markets.
Along with aerosol valves, Precision Valve also manufactures actuators and other products for consumer-oriented companies. Peak Rock's investment will be used to support organic growth initiatives, new product development and strategic acquisitions.