GenNx360 Capital Partners Announces Horsburgh & Scott’s Acquisition of Franklin Machine & Gear

NEW YORK--(BUSINESS WIRE)--GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm focused on investing in middle-market industrial and business services companies, today announced that its portfolio company, Horsburgh & Scott (“H&S”), has acquired Franklin Machine & Gear, a provider of industrial gear and gearbox repair and replacement services.

H&S, headquartered in Cleveland, Ohio, is one of the leading providers of industrial gearing solutions. Founded in 1886, the company specializes in the design, engineering, manufacturing, and repair of custom gear and gearboxes for heavy industrial applications. H&S serves customers across a wide range of end markets, including steel, mining, energy, marine, and defense, from its facilities in Ohio, Illinois, Louisiana, and Ontario.

Franklin Machine & Gear (“Franklin”), based in Houston, Texas, is a family-owned full-service provider of gear and gearbox manufacturing and repair services. Since its founding in 1974, Franklin has been serving customers across various end markets with capabilities that include CNC turning and milling, gearbox rebuilding and repair, bevel gearing, gear hobbing and grinding, and other related services.

Franklin co-owners, Eddy and Larry Franklin, will stay with the combined business along with General Manager, Tom Patton, to continue serving Franklin’s customers and driving growth for the combined business.

“We are excited to welcome Franklin Machine & Gear into the Horsburgh & Scott family. Franklin’s precision machining and gear manufacturing capabilities are a natural complement to our existing platform, and their strong reputation in the Houston market will help extend our reach into the Gulf Coast region,” said Randy Burdick, CEO of Horsburgh & Scott. “We look forward to working with Franklin’s talented team as we continue to grow H&S into a comprehensive gearing solutions provider.”

“Horsburgh & Scott shares our commitment to quality and customer service, and we are confident that Franklin will thrive as part of their platform. We are excited to continue serving our customers and to contribute to the growth of the combined organization,” said Franklin co-owners, Eddy and Larry Franklin.

“H&S’s acquisition of Franklin represents an important step in our growth strategy, adding precision machining capabilities and expanding the platform’s geographic footprint into the Gulf Coast,” said Monty Yort, a Managing Partner at GenNx360. “We are looking forward to continuing to execute upon the H&S growth strategy with Randy and his team.”

GenNx360’s H&S team includes Lloyd Trotter, Co-Founder; Monty Yort, Managing Partner; Latasha Akoma, Operating Partner; and Miles Oliver, Associate.

Baker Hostetler served as legal counsel to H&S and GenNx360.

About Horsburgh & Scott

Horsburgh & Scott is a Cleveland, Ohio-based provider of custom-engineered industrial gear and gearbox manufacturing and repair services. Founded in 1886, H&S provides turnkey engineering and manufacturing solutions for large open gearing and high-torque gearboxes, as well as comprehensive rebuild, repair, and field service capabilities. The company serves customers across the steel, mining, cement, oil & gas, power generation, marine, defense, and other heavy industrial end markets from facilities in the U.S. and Canada. https://horsburgh-scott.com/

About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market industrial and business services companies. GenNx360 invests in companies with proven and sustainable business models in expanding industries, with the objective of implementing value-enhancing operational improvements to accelerate growth, deliver efficiencies and generate strong financial returns. Target industries include industrial machinery and components, business & industrial services, automation & industrial technology, packaging products, equipment services, environmental services, and food ingredients/equipment/services. GenNx360 was founded in 2006 and is headquartered in New York City. https://www.gennx360.com/