Automation Supplier Micromatic Sold to Different PE Firm

Chicago-based private equity firm Forest Hill Partners (FHP) completed the sale of Micromatic LLC to Indianapolis-based MITAR Private Capital.

Terms of the transaction were not disclosed.

Berne, IN-based Micromatic is a manufacturer and distributor of rotary vane actuators, waste tippers and automation assembly systems.

“FHP’s investment thesis is rooted in a commitment to buy at a fair value, operate efficiently, focus on profitable, long-term, top-line growth, and professionalize organizations to set them up for growth while generating outsized returns for our investors,” Forest Hill Partners Co-Founding Partner John Carretta said in a Sept. 17 news release.

Since acquiring Micromatic from Textron in 2005, FHP said it has fueled Micromatic’s growth by investing in sales and marketing strategies, enhancing the executive management team and improving operational efficiencies.

“Working in close partnership with the Micromatic management team, we accelerated revenue growth, diversified revenue streams, and executed a number of strategic initiatives. Micromatic was FHP’s inaugural investment, and we are extremely proud of how the team came together to achieve our investment goals, including generating a fantastic return for our investors.”