Material Sciences Corp. (MSC) announced that Sky Island Capital, a Dallas-based, middle-market private equity firm, has purchased majority control of the company. Headquartered in Canton, Michigan, MSC produces advanced materials and specialty coated metals that are engineered to address lightweighting, noise, vibration and harshness (NVH), as well as corrosion, architectural and aesthetic needs for a wide variety of end-markets, including transportation, building products, packaging and consumer goods.
Pat Murley, CEO of MSC, said, “Bringing in the Sky Island team will allow us to be more aggressive with add-on acquisitions and continue to grow the company. We have worked with several of the Sky Island team members in the past where we had tremendous success growing the business through add-on acquisitions. We are excited to work with them again to reinvigorate those efforts.”
“We are extremely excited to partner with the MSC team again,” said Jack Waterstreet, the managing partner of Sky Island. “As we looked for our first deal at Sky Island, we could not pass up on the opportunity to work with such a talented team and quality company that we are deeply familiar with from our prior management of the company. MSC has had spectacular historical performance, but we firmly believe that its best days are ahead given several organic and add-on acquisition growth opportunities.”