Somera Private Equity and its strategic partner Entrepreneurial Equity Partners (e2p) have acquired the Lancaster-based maker of Shock-Gard products and Pennsylvania-based maker of Ty-Gard to form Dallas-based Gardian Holdings LLC.
Matthew Bullock
Los Angeles-based Somera and Chicago-based e2p said they will partner with the businesses’ existing owner, Matthew Bullock, to accelerate growth, continue innovative product development, and maintain leading service to Gardian’s customer base, composed mostly of Fortune 500 companies.
Bullock will retain a significant equity stake and remain as the company’s CEO. Terms of the deal were not disclosed.
“Over the last 50 years, our mission has always been to leverage patented technology to prevent damage and improve safety in the workplace,” Bullock said in a statement. “This partnership allows us to remain focused on what we are passionate about, delivering the quality products and service we are known for, as we scale and pursue exciting growth avenues. It’s been a privilege to serve this industry throughout my career, and we look forward to this next chapter.”
“We’re thrilled to partner with Matthew and the Gardian team to bring innovative cargo securement technologies to customers focused on optimizing their logistics in a safe and responsible manner,” Somera Managing Partner Eric Hauser said in a statement. “We intend to leverage our deep and industry-relevant networks to support Gardian’s exciting growth potential, while continuing the outstanding product and service quality the company has achieved to-date.”
More on the combined company
The companies said that PSP Capital Partners have also acquired a minority stake in Gardian, a newly formed holding company that provides patented cargo securement products through its Ty-Gard and Shock-Gard brands.
Ty-Gard is a flexible restraint system developed to prevent damage for multimodal transit. The company says it’s one of the only brand-approved systems to secure cargo across rail, ocean, and over-the-road trucking applications.
Shock-Gard is a sustainable, fiber reinforced, RFID-enabled expandable foamcore panel used to absorb shock and prevent damage within railcars and intermodal containers.
Gardian has manufacturing facilities in Texas and Pennsylvania.
Somera Private Equity focuses on partnering with entrepreneurs, founders, and management teams to preserve unique competitive advantages and unlock asymmetric growth potential.
e2p is a Chicago-based middle market private equity firm focused on control-oriented investments in and around the food, consumer, and packaging industries.
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