Grey Mountain Partners has acquired a majority equity stake in Bolttech Mannings, a provider of technical bolting and heat-treating services for industrial applications. The investment provides North Versailles, Pa.-based Bolttech Mannings with additional capital and resources to enable it to continue to meet its customers’ needs and to further expand its business through internal growth initiatives or additional acquisitions of complementary businesses. Bolttech Mannings is a pioneer of the induction bolt heating process and a leading service provider in the joint integrity market. It is also one of the only providers of turnkey bolting solutions.
Through its 19 field offices located throughout the U.S., Bolttech Mannings provides maintenance and emergency services to over 400 customers mainly in the power-generation, refinery and petrochemical markets. Grey Mountain Partners is a Boulder, Colo.-based private equity firm that focuses on building value in partnership with management through sustainable operational improvement.
Bolting, Heat-Treating Services Provider Acquired
November 25, 2009