Headquartered in Monroe, Connecticut, Stancor designs and manufactures electric submersible pumps, controls and related replacement parts and accessories for critical heavy industrial applications in the mining, utility, commercial construction and wastewater industries.
Stancor management will now work closely with Knox Capital’s operating team, led by principal Tom Nugent, to manage a transition for Stancor’s existing owners and employees.
Alex Gregor, founder and principal at Knox Capital, said: “Our investment in Stancor is a direct result of our focus on providing the management plan needed to reach a new plateau of long-term, sustainable growth. We are excited about Stancor’s potential.”
Alan Tenney, president of Stancor, said: “This transaction represents a very significant milestone for Stancor. Knox Capital’s access to sizable permanent capital resources, along with the experience and expertise of Mr Gregor and his team, will provide management with an opportunity to grow in the marketplace, expanding its product and service offerings, and to focus on ensuring the best outcome for the business, including its customers, suppliers and employees.”
Longview Asset Management and Bratenahl Capital invested alongside Knox Capital.