St. Petersburg, FL – The Anderson Group, LLC has partnered with management to acquire the assets of Fosbel, Inc., a global service provider specializing in refractory furnace inspection, maintenance, repair and reconstruction. Fosbel’s service offering is directly tied to the performance, profitability and environmental compliance of its customers, and preserves the life of critical operating assets.
Eric Yaszemski, Chief Executive Officer, said, " Fosbel is the worldwide technology leader in ceramic repairs for the steel and glass industries. The partnership between The Anderson Group and Fosbel management will provide a more focused approach with a stronger balance sheet to accelerate strategic growth plans. We are excited about a new beginning with ownership that understands the rigorous demands of our customers’ safety, service and material supply requirements.”
Anderson Group partner Cory Gaffney added, “We are thrilled to be partnering with a management team that has demonstrated an unwavering commitment to quality, service and innovation. This team of professionals has earned the trust of customers to maintain what is among their most expensive and important capital investments.”
About The Anderson Group
Founded in 1985, The Anderson Group is an operationally-oriented private equity investment firm focused on acquiring control positions in companies at the lower end of the middle market. Senior professionals at Anderson each have between twenty and thirty years of operational experience in various businesses and industries. Anderson specializes in three types of transactions: turnaround opportunities, special situation investments and recapitalizations. Though Anderson does not have a specific industry focus, it typically acquires businesses in the niche manufacturing, distribution or service industries. The Anderson Group is not an institutional fund; rather, it invests its own committed pool of capital. As such, Anderson is able to avoid investment approval processes, mandates and holding periods. Thus, Anderson can offer a faster approval/transaction process, certainty to close, flexibility in equity ownership and an ability to invest throughout the capital structure that other firms and funds often cannot. For more information about The Anderson Group, please visit www.andersongroup.com.