Private Equity Firm Acquires MSC
By Metal Center News Staff
on May 13, 2019
Sky Island Capital has acquired majority control of Material Sciences Corp., Canton, Mich. Sky Island is a Dallas-based middle market private equity firm.
“Bringing in the Sky Island team will allow us to be more aggressive with add-on acquisitions and continue to grow the company,” said Pat Murley, CEO of MSC. “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.”
Material Science Corp. was ranked 33rd on the 2018 Metal Center News Top 50, with 2017 revenues of $338 million. The company operates five stocking locations, selling carbon and alloys, stainless and aluminum flat-roll products to the automotive, construction, appliance and container markets.
The company also produces advanced materials and specialty coatings for a variety of end markets.
“We are extremely excited to partner with the MSC team again. 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,” said Jack Waterstreet, the managing partner of Sky Island. “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.”