Ideal Tridon Holdings Inc., a portfolio company of Snow Phipps Group, announced today that it has completed the acquisition of ZSi-Foster Acquisition Corp. from Pfingsten Partners. Terms of the transaction were not disclosed.
Headquartered in Canton, Mich., ZSi-Foster is a specialty manufacturer and supplier of pipe, hose and conduit support and fastening solutions including clamps, strut and strut fittings, and hydraulic and pneumatic hose fittings, across a diverse range of end markets. Combining Ideal Tridon’s broad portfolio of specialty clamp and fitting products with ZSi-Foster will allow both companies to bring more solutions to their customers, delivered with the highest level of service, engineering support and quality. The ZSi-Foster management team will continue to hold key positions within the combined company to further ensure that Ideal Tridon continues to meet and exceed the needs of its customers.
“We are extremely excited that ZSi-Foster is now part of the Ideal Tridon family,” said Michael Reese, CEO of Ideal Tridon. “Both Ideal and ZSi-Foster have long track records of providing highly engineered products and differentiated service to their customers. We expect to deepen our customer relationships with a more expansive product offering, delivered with the high level of quality and service they expect from us.”
“I am excited about the possibilities of this combination,” said Rick Stepien, CEO of ZSi-Foster. “We have been successful executing our growth strategy and fully expect that becoming part of Ideal Tridon will accelerate that growth.”
John Pless, Partner at Snow Phipps, said, “We partnered with Ideal Tridon to support their growth strategy of expanding what they are able to do for their customers. The acquisition of ZSi-Foster is a transformational step forward in that process and will create many more opportunities for us to continue to grow organically and through M&A.”