ZSi-Foster Inc., an Ideal Tridon company, announced Thursday that it has completed the acquisition of Hydra-Zorb Co. Financial terms of the deal were not disclosed.
Headquartered in Auburn Hills, Michigan, and founded in 1972, Hydra-Zorb makes pipe, hose and tube clamping for the hydraulic, HVAC, plumbing and refrigeration markets.
“The Hydra-Zorb organization is excited to bring our products into the ZSi-Foster and Ideal Tridon family,” said Bob Dodge, CEO of Hydra-Zorb. “This transaction combines our deep industry and product knowledge with that of ZSi-Foster and Ideal Tridon and provides our customers with complementary brands that represent the best clamp, pipe, hose support, and HVAC accessory products available on one comprehensive platform. The combination puts a stamp on our company legacy and will add tremendous value to our customers.”
ZSi-Foster, acquired in 2019 by Ideal Tridon, a portfolio company of Snow Phipps Group, serves a diverse set of end markets by offering a broad portfolio of highly engineered clamp, coupling and strut support systems. The acquisition of Hydra-Zorb is the most recent acquisition for Ideal Tridon and uniquely positions the combined company to serve customers with an unmatched industrial product portfolio.
“We have great respect for the Hydra-Zorb organization. Their strong products and commitment to quality and service align well with the Ideal Tridon mission. Their innovation with the original Hydra-Zorb clamp and Klo-Shure insulation clamp along with recent product additions designed for the high growth mini-split market is a testament to their vision. Together with ZSi-Foster and the companies in the Ideal Tridon Group, we now offer our customers a complementary and expansive range of the top clamping, hose and pipe support products in the world,” said Rick Stepien, CEO of Ideal Tridon. “We could not be more excited about the future.”
Parker Poe Adams & Bernstein LLP served as legal counsel to Snow Phipps and Angle Advisors, LLC served as financial adviser to Hydra-Zorb in the transaction.