Tonka Bay Invests in Engineered Specialty Products
MINNETONKA, Minn. —Tonka Bay Equity Partners LLC (“Tonka Bay”) announced an investment in Engineered Specialty Products, Inc. (“ESP”). Tonka Bay partnered with current management in this transaction. ESP is Tonka Bay’s third investment in its recently formed third fund, with $150 million in available capital.
Based in Kennesaw, GA, ESP is a growing supplier of pressure and temperature instrumentation. Founded in 1983, the company offers utility type products through its own Precision Instrument Company (“PIC”) brand and higher-end process and electronic instrumentation as a distributor of Baumer branded products. ESP has built a competitive advantage by developing a broad, high-quality, low-cost product offering, which is sold to a diverse group of original equipment manufacturers (“OEMS”) as well as a wide distribution network to aftermarket customers.
“We are excited to invest alongside management and help ESP continue its strong trajectory,” said Peter Kooman, Managing Principal of Tonka Bay and a member of the ESP Board. “The company has built a solid business model as well as deep relationships with their customers and suppliers which will help them accelerate their growth.”
Through their PIC branded products, ESP has provided their customers with high-quality pressure and temperature instruments for over 20 years. Built for use in a wide variety of applications and industries, PIC products are designed to outperform and outlast the competition. ESP’s commitment is always to provide their customers with the best product at the best price available. For more information about ESP, please visit the Company’s website at www.espgauges.com.
About Tonka Bay Equity Partners
Based in Minnetonka, Minnesota, Tonka Bay Equity Partners is a private equity firm that acquires and invests in growth-oriented businesses in the highly-engineered manufacturing, business services and value-added distribution sectors. For more information, visit tonkabayequity.com.
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