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Brazos Private Equity Partners, LLC, a Dallas-based private equity firm, today announced the sale of BlackHawk Industrial Distribution, Inc., an independent value-added industrial distributor of cutting tools, abrasives, and MRO products, to Snow Phipps Group, LLC. Financial terms of the transaction were not disclosed. BlackHawk was ranked 32nd on MDM’s 2018 Top Distributor list.
Based in Broken Arrow, Oklahoma, BlackHawk was founded by Brazos Partners in 2010 in conjunction with Bill Scheller, former CEO and President of ORS Nasco, Inc., and has grown to one of the top 30 North American industrial distributors. The company has a national footprint that includes locations across North America and offers a portfolio of over one million SKUs as well as supply-chain and value-added manufacturing services.
“We could not be more pleased with the success of BlackHawk,” said Randall Fojtasek, current managing partner of CenterOak Partners and co-founder and former co-CEO of Brazos. “We are thrilled with the outcome for our investors and for the management team, and we wish them continued success.”
Bill Scheller, former BlackHawk CEO and current CenterOak Operating Partner, added, “It has been an incredible run with the team and I have truly enjoyed the partnership. [W]e wish the current CEO John Mark and his team success as they focus on the continued growth of the business.”
Houlihan Lokey served as financial advisor. Gibson, Dunn & Crutcher LLP served as legal advisor to Brazos Partners in connection with the sale.
Brazos Private Equity Partners is a Dallas-based private equity firm that has managed investment funds through three vehicles with approximately $1.4 billion of equity capital since inception.
BlackHawk is an independent value-added industrial distributor of cutting tools, abrasives, and MRO products in the U.S.