Forest Hill Partners Sells Indiana Manufacturer Micromatic LLC to MITAR Private Capital

CHICAGO, Sept. 17, 2024 /PRNewswire/ — Forest Hill Partners LLC (FHP), a Chicago-based private equity firm, today announced that it has completed the sale of Micromatic LLC (Micromatic) to MITAR Private Capital, an Indianapolis-based private equity firm. Financial terms were not disclosed.

Micromatic, headquartered in Berne, Indiana, is a world class developer, manufacturer and distributor of rotary vane actuators, waste tippers and automation assembly systems that help customers around the world solve complex automation needs.

Since acquiring Micromatic from Textron in 2005, FHP supported Micromatic’s growth by investing in sales and marketing strategies, strengthening the executive management team, and increasing operational efficiencies. Throughout this 19-year ownership period, Micromatic nearly tripled its revenues and earnings.

“FHP’s investment thesis is rooted in a commitment to buy at a fair value, operate efficiently, focus on profitable, long-term, top-line growth, and professionalize organizations to set them up for growth while generating outsized returns for our investors,” said John Carretta, Co-Founding Partner of Forest Hill Partners. “Working in close partnership with the Micromatic management team, we accelerated revenue growth, diversified revenue streams, and executed a number of strategic initiatives. Micromatic was FHP’s inaugural investment, and we are extremely proud of how the team came together to achieve our investment goals, including generating a fantastic return for our investors.”

Micromatic was advised in the transaction by EO Advisors and Gould & Ratner LLP.

About Forest Hill Partners LLC

Forest Hill Partners LLC (FHP) is a private equity firm with offices in Chicago and Detroit led by founders John Carretta and Michael Sullivan. FHP is focused on investing in and growing lower middle-market industrial businesses. FHP targets manufacturing and value-added distribution companies, typically with revenues between $5 million and $25 million and invests in partnership with family offices, mezzanine funds, equity funds, industry executives, and high net worth individuals. For more information visit https://www.foresthillpartners.com.   

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SOURCE Forest Hill Partners LLC