NEW YORK & PETERSBURG, Va.--(BUSINESS WIRE)--Brookstone Partners completed the acquisition of Virginia Abrasives (“VAC”) in May 2019. VAC manufactures and distributes abrasives products to the equipment rental, professional flooring and industrial flooring markets. It serves over 1,500 customers nationally with its service promise “Free, Same-Day Shipping” on every order.
- VAC expects to drive its organic growth by continuing to expand its product offerings.
- Brookstone will enhance VAC’s growth by seeking to acquire complementary companies to meet its customers’ evolving needs.
Michael Toporek, Brookstone’s Managing General Partner, said “VAC’s customer-centric culture provides the ideal opportunity to expand in the abrasives business.”
Matthew Lipman, a Managing Director with Brookstone, said “We have been impressed with the opportunities to grow VAC by simply listening to the customers and continuing to exceed their expectations.”
VAC is one of five companies in the USA to manufacture its own sandpaper. This gives it a strong technical and logistical edge to meet its customer requirements.
Karl Stafflinger, VP of Operations at VAC, said “It’s not only our ability to manufacture sandpaper that differentiates us, it’s the product knowledge that this creates throughout the organization, from customer service to sales, that really differentiates VAC.”
Nixon Peabody provided legal advice to Brookstone.
Virginia Abrasives Corporation
Located in Petersburg, VA, Virginia Abrasives Corporation manufactures and distributes abrasives products for the wood flooring and concrete preparation business. The company’s product offerings include sandpaper, diamond and bonded abrasives and non-woven abrasives. The company sells its manufactured products under both the VAC brand and under private label for its larger customers. www.virginiaabrasives.com.
Founded in 2003, the New York-based firm prides itself on “Building Businesses, Investing in People.” The firm creates investment situations where its goals as investors are directly aligned with those of management and is one of the key factors to its success. Brookstone calls this "Goal Congruency.” Broadly defined, it means once the firm commits its capital to a company, its Principals begin working aggressively with management to build the company. www.brookstonepartners.com
- Lower middle market Industrial Private Equity ($2M-$10M EBITDA)
- Majority, minority or growth capital
- Long term holders, no pre-defined fund life (10-15 years)
- Brookstone Principals invest 30%-40% of every dollar; strong alignment with entrepreneurs