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Investments

32 ownership transitions.

$347 million of value.

Three decades of experience.

Applicator of engineered coatings

Coating the impossible.


Solution: Recapitalization


Bel Air Growth Partners Recapitalizes Mixer Systems 032023

Business Description

RIE Coatings (“RIE”) and has grown to become an expert provider of environmentally friendly thin-film coating technologies. Operating from facilities in Eden Valley, MN and Dubuque, IA, the company formulates and applies performance enhancing surface coatings to fasteners and OEM component parts used in various non-automotive markets. After several years of strong growth, RIE ownership was seeking a transaction that would address differences amongst shareholders over future strategy. RIE was characterized by: (i) excellent reputation in a fast growing market segment; (ii) strong coatings formulation development capabilities; and (iii) the opportunity to implement best practices.



Transaction Overview

Bel Air principals were part of a private equity team that sponsored the recapitalization of RIE in a transaction that bought out certain shareholders and aligned management around a core strategy. The deal was completed in conjunction with a strong operating executive who joined the board to help support RIE’s growth strategy. Post-closing accomplishments include: (i) recruitment of strong CEO and CFO; (ii) construction of a new facility, in Iowa; (iii) implementation of job costing and processing systems; and (iv) conversion from a C-corporation to LLC structure.




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