For Release - May 15, 2019
Calibre Group Divests Stake in Material Sciences Corporation
Calibre Group, an Industrials-focused merchant bank, announced today that it has sold its remaining stake in Material Sciences Corp. ("MSC") to Sky Island Capital. Terms of the transaction were not disclosed. “We thoroughly enjoyed supporting the MSC management team and employees in growing the business,” said Jim Tumulty, founder and CEO of Calibre Group. “This has been an excellent investment for Calibre, and we are confident that MSC will continue to thrive going forward. The partnership of Jack Waterstreet, Sky Island Managing Partner, and Patrick Murley, MSC CEO is extremely dynamic, and I know they will continue to deliver value for MSC stakeholders.” Mr. Tumulty continued, "MSC is a perfect example of Calibre's desire to partner with management teams and employees to grow businesses within the Industrial sector." Mr. Tumulty will continue to retain a minority stake in MSC.
“Calibre Group has been an excellent partner to MSC. On behalf of MSC's employees I want to thank Calibre for their dedicated support over these last few years," said Mr. Murley, CEO of MSC.
About Material Sciences Corporation
Material Sciences (www.materialsciencescorp.com) produces advanced materials and specialty coated metals that are engineered to address light-weighting, noise, vibration, and harshness (“NVH”), corrosion, architectural, and aesthetic needs for a wide variety of end markets including transportation, building products, packaging, and consumer goods. Headquartered in metro Detroit, Michigan, Material Sciences has production facilities in Elk Grove Village, Illinois, East Chicago, Indiana, Walbridge and Canfield, Ohio and Toronto, Ontario.
About Calibre Group, LLC
Calibre Group, LLC is a merchant bank based in Pittsburgh, Pennsylvania offering strategic, M&A, restructuring and capital advisory services to metals related and manufacturing companies. In addition, Calibre invests private debt and equity capital focusing on situations where it can draw upon its deep operational experience. Calibre is actively seeking opportunities to partner with management teams in the Industrial sector.