CLEVELAND--(BUSINESS WIRE)--Steven Rosen, co-CEO of private equity firm Resilience Capital Partners, which manages $625 million in assets and owns several leading manufacturing companies, today responded to the Institute for Supply Management’s just-released January PMI manufacturing index, which registered 59.1 percent, a drop of 0.2 percent from the December reading of 59.3 but beating market expectations of 58.8.
STEVE ROSEN’S COMMENTS:
On the manufacturing PMI: “Manufacturing had a very good year in 2017, and today’s new PMI Index data shows only a modest cool-down, with the index still above the 2017 average (of 57.4). Our portfolio companies throughout the U.S. continue to see strong demand for their products.”
On the outlook: “Looking at our own manufacturing portfolio companies, we see solid growth continuing for the remainder of 2018. We expect many of our companies to benefit from the tailwinds of tax reform, the decline of the dollar and opportunities associated with global economic growth.”
On productivity gains: “The manufacturing companies in our portfolio are seeing productivity gains from making smarter decisions using data, software , artificial intelligence and the growing use of robotics and other advanced manufacturing technologies, and we see this supporting future growth.”
About Resilience Capital Partners
Headquartered in Cleveland, Ohio, Resilience invests in niche-oriented manufacturing, value-added distribution and business service companies with sustainable market positions and a clear path to cash flow improvement. Resilience targets platform businesses with $25 million to $250 million in revenues across a broad range of industries where it can improve a company’s operations, competitive positioning and profitability. Resilience manages in excess of $625 million for its global investor base that includes pension funds, insurance companies, foundations and endowments, fund of funds and family offices. For more information, please visit www.resiliencecapital.com.