Realized Investments

Headquartered in Canastota, New York, Thermold Corporation is a 70+ year-old full-service plastic injection molding company focused on highly engineered products and components. The company serves customers in the consumer goods, aerospace, automotive, electronics and pharmaceutical industries. Sand Oak exited this investment in July 2019.

www.thermold.com

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Transaction

In 2008, Sand Oak Capital Partners was introduced to the company through a local relationship. The acquisition was completed as a negotiated transaction.

Opportunity

The company had an experienced, highly-skilled labor force capable of designing and producing value-added components with an attractive portfolio of long-standing customers. However, under family ownership, Thermold lacked sufficient access to resources with which to grow its business. This was quickly remedied by capital investment and additional strategic oversight.

Strategy

Sand Oak identified a demand in the market for highly engineered, low volume products that could not be efficiently produced overseas. Thermold continues to win new business by developing new ideas for customers, deepening already strong relationships and creating a brand name for quality, highly-engineered injection molding products.

Headquartered in Dallas, LCR Contractors LLC is one of the country’s largest spray fireproofing and thermal insulation subcontractors. Founded in 1984, LCR has built a strong reputation with commercial general contractors and residential homebuilders because of its ability to provide technically sound, high quality and timely service on complex projects. Sand Oak exited this investment in March 2019.

www.lcrcontractors.com

Based in Syracuse, New York, Roth Steel is a metal recycling business with more than 100 years of operating history. Sand Oak exited this investment in June 2011.

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Transaction

Operated business in partnership with family owners.

Opportunity

Roth Steel was a family business that lacked strategic direction and suffered from underinvestment because of dividends to passive owners. The company was focused on legacy product offerings and was missing opportunities to capture additional margin through expanded business lines.

Strategy

Successfully rationalized overhead and brought cost structure in-line with industry standards and competitors. Created a reorganization plan designed around capital investment with immediate term payback. New markets were established for Roth Steel’s products and alternative and cost-efficient transportation strategies were implemented.