Sentinel sells IEP Technologies

Successfully Builds Leading Industrial Explosion Protection Company

NEW YORK, September 2, 2015 – Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the middle market, today announced the sale of IEP Technologies, a leading global, industrial explosion protection company, to Switzerland-based HOERBIGER Group. Terms of the transaction were not disclosed.

Headquartered in Marlborough, Massachusetts, IEP provides systems and services that detect and suppress combustible dust or vapor explosions in process industries, including best-in-class explosion protection systems, design engineering, replacement parts, and service and support to its global customer base. IEP was created two years ago through a carveout of the industrial explosion protection businesses of United Technologies Corp. Each business represented a legacy brand, operating in its own geographic market. Under Sentinel's ownership, management integrated the legacy businesses and created the global IEP Technologies brand. Today, IEP operates under one brand from locations in the U.S., Germany, Switzerland, France, Turkey and the United Kingdom.

"Our investment in IEP began as a complex carveout and included the integration of five separate global business units spread across multiple locations throughout the U.S. and Europe," said Eric D. Bommer, a partner at Sentinel. "During our ownership, management built a freestanding business that became the leader in a highly specialized, niche industry. We are proud to have been associated with such an outstanding business and are confident that IEP will continue to excel under the leadership of its talented management team."

Under Sentinel's ownership, IEP successfully completed a number of important strategic initiatives that resulted in a fully integrated, global platform, unified systems and infrastructure, and strong management architecture. In transitioning to a standalone business, IEP relocated to new facilities in Germany, the United Kingdom, and Massachusetts, expanded into new geographies and markets, and expanded its customer base. During this transformation, IEP also increased its revenue and profitability.

"We are very excited about what we have achieved in partnership with Sentinel. Their support and long-term perspective helped us perform well and also positioned us for continued success," said Randy Davis, CEO of IEP Technologies. "This is an exciting time for our company, as IEP prepares for the next stage of growth. Under the umbrella of the HOERBIGER Group, we will have exceptional opportunities to execute our successful growth strategy long-term."

Other Sentinel investments in specialty industrial businesses include Alemite (industrial lubrication equipment); Chase Doors (specialty door systems); Chromalox (precision heating technology); Colson (casters and wheels); Engineered Controls International (pressure regulators, valves); Fasloc (underground mine roof support systems); LTI Boyd (rubber and plastic sealing systems); PlayCore (commercial playground and recreation equipment), and RotoMetrics (precision rotary tooling).