Washington Equity Partners Leads Majority Recapitalization of Tube Bending, Inc.
MCLEAN, VA / APPLE VALLEY, CA, February 3, 2020 – Washington Equity Partners (“Washington Equity”), a private equity firm based in the Washington DC metro area, today announced that it has made a majority investment in Tube Bending, Inc. (“Tube Bending” or the “Company”), a leading manufacturer and fabricator of tubing and tubing assemblies. President Bryan Christoffersen will retain a significant equity ownership position and will continue in his day-to-day management of the Company.
Founded in 1959 and based in Apple Valley, CA, Tube Bending is a manufacturer of complex tubing components and assemblies for the aerospace, defense, space, medical and industrial markets. Tube Bending’s in-house manufacturing capabilities include tube bending, tube fabrication, machining, welding, brazing, assembly, design, inspection and testing. The Company supports a diverse group of the world’s leading commercial and military aircraft and aero-engine OEMs and Tier I suppliers.
Jesse Liu, a Partner at Washington Equity, said, “We look forward to partnering with the Tube Bending team to build upon the Company’s strong and consistent track record of long-term growth. With differentiated capabilities and a strong management team committed to market-leading execution, Tube Bending is well positioned to continue growing its business in the aerospace, defense and medical end markets.”
Bryan Christoffersen, President of Tube Bending, said, “This is an exciting time for the entire Tube Bending team as we start our partnership with Washington Equity, and this investment represents an important milestone for our Company. With Washington Equity’s support, resources and deep industry knowledge, we will be able to build upon the success we have had and expand our ability to execute on the market opportunity in front of us.”
Hagen Saville, a Partner at Washington Equity, added, “We are excited about the opportunity to build Tube Bending into a market-leading tubing platform in the aerospace and defense markets. Tubing is a core focus for Washington Equity and we see significant opportunity ahead for Tube Bending to achieve a step function in growth through organic and inorganic means.”
Plexus Capital and SharpVue Capital provided debt and equity financing in support of the transaction.
Keystone Capital Markets served as the exclusive financial advisor to Tube Bending.
About Washington Equity Partners
Washington Equity Partners is a sector-focused private equity firm that makes control equity investments in established lower middle market businesses with strong prospects for rapid organic and acquisition-driven growth. The firm is headquartered in McLean, VA and is focused on investing in: (i)Aerospace, Defense, and Government Contracting, (ii) Industrial and Advanced Manufacturing, and (iii) Software and Technology. www.w-equity.com
About Tube Bending
Headquartered in Apple Valley, CA, Tube Bending is a leading manufacturer and fabricator of tubing and tubing assemblies. The Company operates out of a state-of-the art, 36,000 sq. ft manufacturing facility and has been serving the aerospace and defense industries for over 50 years. Tube Bending’s vertically integrated suite of capabilities includes tube bending, tube fabrication, machining, welding, brazing, assembly, design, inspection and testing. https://tubebendinginc.com/
Contact:
Jesse Liu, Hagen Saville or Bob Knibb
Washington Equity Partners
1420 Spring Hill Road, Suite 600
McLean, VA 22101
(202) 839-3410
Source: Washington Equity Partners