Behrman Capital Sells Portfolio Company ILC Dover

New York, February 3, 2020 – Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced that it has sold its portfolio company ILC Dover to New Mountain Capital. Financial terms of the transaction were not disclosed.

Founded in 1947, ILC Dover designs and manufactures a broad range of innovative, highly engineered products utilizing high-performance flexible materials. The Company has a more than seventy-year heritage of innovation, and commitment to expanding its product portfolio of mission-critical applications to end use cases including single-use pharmaceutical and biopharmaceutical production, personal safety, industrial packaging, infrastructure protection and a range of solutions for human space flight. The Company serves its global customer base today across six facilities located in North America, Europe and Asia.

Grant G. Behrman, Managing Partner of Behrman Capital, said: “ILC Dover is a leader in its markets, and we are very proud to have played an important role in its success during our investment period. Under our ownership, the company completed several strategic acquisitions, launched innovative products and entered new markets, among other important growth initiatives. Fran DiNuzzo and his management team have done an excellent job leading the company and positioning it with an exceptional runway for innovation and growth. We are very confident that ILC Dover will continue to thrive under Fran’s leadership as they move on to the next exciting chapter.”

Fran DiNuzzo, President and CEO of ILC Dover, said: “Behrman has been a terrific partner to us over the years and provided expertise and strategic resources that were instrumental in achieving our shared objectives. We are grateful for their support as we have pursued our long-term strategy to be the leading innovative, materials science-based solutions provider.”

Houlihan Lokey served as exclusive financial advisor and Latham & Watkins LLP served as legal counsel to ILC Dover.

About Behrman Capital

Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are focused in three industries: defense and aerospace, healthcare services, and specialty manufacturing and distribution. The firm has raised in excess of $3.0 billion since inception and is currently investing out of its sixth fund. For more information, please visit www.behrmancap.com.

About ILC Dover, Inc.

ILC Dover was founded in 1947, with one goal: to develop innovative solutions to solve its customers’ complex problems applying its best talent and highest-quality materials. Today, ILC’s 700+ team members serve customers globally across 6 facilities in North America, Europe and Asia. ILC ‘s broad solution set serves customers across diverse end markets, including pharma/biopharma, food and beverage and aerospace and defense. For more information, please visit www.ilcdover.com.

Contact

Mark Semer or Daniel Hoadley
Kekst CNC
(212) 521-4800
mark.semer@kekstcnc.com / daniel.hoadley@kekstcnc.com