Tonka Bay Invests in Sierra Corporation
May 11th, 2015
MINNETONKA, Minnesota (May 11, 2015) —Tonka Bay Equity Partners LLC (“Tonka Bay”) has announced an investment in Sierra Corporation (“Sierra”), a leading manufacturer of custom industrial coatings, sealants and paints. Tonka Bay has partnered with Sierra’s owners Stu Collins and Mike Stock to accelerate the growth of the company. The investment in Sierra is Tonka Bay’s eighth platform company investment in Fund III.
Headquartered in Minnetonka, Minnesota, Sierra focuses on the research, development, and custom manufacturing of industrial coatings for a variety of different end markets and commercial applications. For over 40 years, Sierra has developed and formulated specialty chemicals to solve their customers’ ever-evolving needs.
Stu Collins, President of Sierra, said “We see a great opportunity to continue to grow our business by enhancing our product offerings to our customers. We are excited about our partnership with Tonka Bay, as their experience and resources will help execute our shared vision of growth.”
Shane Slominski, Principal of Tonka Bay and Sierra Board member, stated “We are thrilled with the opportunity to invest in Sierra and to work with Stu and Mike. Sierra has built a tremendous reputation and value proposition in the large industrial coatings market by solving their customers’ problems with highly engineered and timely solutions.”
About Sierra Corporation
Headquartered in Minnetonka, Minnesota, Sierra is a leading manufacturer in custom industrial coatings, sealants and paints. Sierra’s products are distributed throughout the nation and sold world-wide. For more information about Sierra, please visit www.sierrapaint.com or www.tkproducts.com.
About Tonka Bay Equity Partners
Based in Minnetonka, MN, Tonka Bay Equity Partners is a private equity firm that acquires and invests in lower middle market businesses in the highly-engineered manufacturing, business services and value-added distribution sectors. For more information, call (952) 345-2035 or visit www.tonkabayequity.com.