Fortress Acquires Texas Hydraulics
Deal News | Nov 21, 2024 | Fortress Investment Group LLC (NYSE:FIG)
Fortress Investment Group, a global investment manager with $48 billion in assets under management, announced the acquisition of a majority share in TH Holdings. TH Holdings, an industrial manufacturer, operates under the subsidiaries Texas Hydraulics, Hydromotion, and Oilgear. These companies, renowned for their custom-designed, engineered hydraulic components, serve diverse markets including mobile, industrial, and energy sectors. The acquisition marks a strategic effort by Fortress to further invest in industrial reshoring and North American infrastructure, aiming to expand TH Holdings' market presence and product applications. Moelis & Company LLC and Evercore played pivotal advisory roles in this acquisition, underscoring Fortress' commitment to growth through strategic partnerships.
Sectors
- Industrial Manufacturing
- Private Equity
Geography
- United States – TH Holdings and its subsidiaries, including Texas Hydraulics, are based in the United States, serving North American and global markets.
Industry
- Industrial Manufacturing – TH Holdings operates in industrial manufacturing through its subsidiaries producing hydraulic components for heavy-duty applications.
- Private Equity – Fortress Investment Group operates in private equity, acquiring and managing diversified investments like TH Holdings.
Financials
- $48 billion – Assets under management by Fortress Investment Group as of June 30, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fortress Investment Group LLC | Acquirer | Company | A global investment manager with diverse strategies including private equity, credit, and real estate. |
| TH Holdings | Target Company | Company | A diversified industrial manufacturer with subsidiaries like Texas Hydraulics, specializing in hydraulic components. |
| Texas Hydraulics | Subsidiary | Company | A subsidiary of TH Holdings, focused on designing and manufacturing hydraulic components. |
| Patrick Taylor | CEO | Person | CEO of TH Holdings and its subsidiaries, leading the partnership with Fortress. |
| Ben Green | Director | Person | Director at Fortress, involved in the acquisition of TH Holdings. |
| Moelis & Company LLC | Financial Advisor | Company | Acting as exclusive financial advisor to Fortress for this acquisition. |
| Evercore | Placement Agent | Company | Served as placement agent to Fortress on the financing related to the acquisition. |