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Industrial Growth Partners

INDUSTRIAL GROWTH PARTNERS® was founded in 1997 with a single vision: to invest in and build global, market-leading manufacturing businesses. Since our inception, IGP has specialized exclusively in the manufacturing sector with a particular focus on engineered products businesses. We are firm believers in the adage "you're only as good as the company you keep" and over our history we have partnered with some of the best industrial CEOs and management teams in the middle market. IGP's senior investment professionals are motivated by a strong desire to collaborate with the very best managers to create exceptional long-term equity returns.

Samuel G. Adler



Matthew P. Antaya



Ronald A. Auletta

Operating Partner


Robert M. Austin



Michael H. Beaumont

Founding Partner


Rohan Bhargava



Paul W. Campbell



Daniel Delaney



David M. DiFranco



Eric D. Heglie


Tim Heston


Brett Michael Johnson



John D. Malloy



John Parent



Gottfried Tittiger

Founding Partner


Jeffrey M. Webb



Micah K. Wickersheim


14 past transactions

Des-Case Parent

Acquisition in 2016
Des-Case Corporation was founded in 1983 to provide the lubricant industry with innovative solutions to extend oil and equipment life. The original breather was the brainchild of the Company founder, Jim Waller, who responded to the request of an engineer at a major oil company looking for a way to enhance the performance and longevity of his products. As a filtration engineer by trade, Jim’s entrepreneurial spirit took hold with this opportunity and the breather was created and put into production.

Cambridge International

Acquisition in 2012
Cambridge is one of the world’s largest suppliers of metal conveying and engineered woven metal solutions, primarily used in food processing end markets, as well as in architectural, packaging and filtration applications.

Global Power Systems

Acquisition in 2005
Global Power Systems operates factory-authorized full service marine market dealerships for Cummins, Detroit Diesel and John Deere high-speed diesel engines, as well as Allison transmissions. Global is also an authorized marine dealer for Caterpillar in Louisiana.

APCT, Inc.

Acquisition in 2021
APCT, Inc. designs, manufactures, and supplies printed circuit boards. The company manufactures technologies, including higher layer counts in through-hole technology; High Density Interconnect (HDI) product; and flex and rigid-flex builds. The company also provides sales and technical engineering support services. The company has strategic partners in Northern and Southern China; Taiwan; and Japan. APCT, Inc. was formerly known as Advanced Printed Circuit Technology, Inc. The company was founded in 1977 and is based in Santa Clara, California with additional manufacturing sites in Orange and Placentia, California; and Wallingford, Connecticut. APCT, Inc. operates as a subsidiary of APCT Holdings, LLC.

IOTA Engineering, L.L.C.

Acquisition in 2017
Headquartered in Tucson, Arizona, IOTA is a leading manufacturer of back-up power supply equipment for commercial, industrial and institutional emergency lighting applications. The Company provides a comprehensive portfolio of products that supplies light fixtures with emergency power to maintain code-compliant illumination after loss of power. IOTA is a market innovator that has developed a number of technology solutions (some patented) for LED lighting applications that have the broadest compatibility in the industry. The Company, founded in 1968, is well-positioned to continue its growth given its broad and comprehensive product line and its industry-leading reputation for technology, quality and superior customer service.
North American Substation Services (NASS) is an independent repair, maintenance and installation provider for electric utility substations throughout the United States. The company offers transformer, circuit breaker and engineering services to electric utilities, original equipment manufacturers (OEM) and industrial customers. With eight locations throughout the country, NASS is the only independent company of its kind with a nationwide footprint.

Sanders Industries

Acquisition in 2014
Sanders Industries is a leading manufacturer of highly-engineered elastomeric tools used in large, composite structure manufacturing, in addition to elastomeric components for aerospace and defense OEM and MRO applications.

Royal Die & Stamping

Acquisition in 2017
Royal Die & Stamping is a manufacturer providing superior components to the Automotive, Electronics and Telecommunication industries. RDS is a supplier of high-precision, critical electrical connectivity components for automotive and industrial applications. The Company designs and manufactures a broad portfolio of battery terminals, eyelet terminals, fuse components and lead frames, amongst other electrical connectivity-focused products, using complex alloys. RDS is distinguished within the industry by its custom design and engineering expertise, vast library of proprietary products and exceptional quality and customer service.

API Heat Transfer

Acquisition in 2007
API Heat Transfer is one of the largest full service producers of industrial heat exchangers and heat transfer systems in the world. Today API Heat Transfer operates from four modern manufacturing facilities located in the United States, Germany and China, and provides local sales and service to customers through their global sales network.

ASPEQ Heating Group

Acquisition in 2019
ASPEQ Heating Group LLC designs and manufactures electric heating and thermal management equipment. It offers heating equipment, including space heaters, industrial component heaters, electronic controls, and heating elements. The company also provides bolt heaters, immersion heaters, fluid and air circulation heaters, infrared heaters, hopper heaters, switch gear heaters, tubular and finned element heaters, tubular strip heaters, air duct heaters, die casting heaters, and extrusion press heaters. It serves commercial, industrial, transportation, and marine markets. ASPEQ Heating Group LLC was founded in 2008 and is based in St. Louis, Missouri.


Acquisition in 2016
Founded in Carthage, Texas, in 1944, SPL is considered one of the world’s most credible sources of unbiased third-party hydrocarbon insights. Keeping our focus centered on the core values of safety, integrity, innovation and service upon which our business was founded, we support operators with everything from accurate meter calibration and reporting to allocation production and data management. And with expert laboratory personnel and field services teams at 15 strategic locations nationwide, we can ensure the quantity and quality of oil and gas assets at any scale. For more than 70 years, SPL has brought innovation and objective thought leadership to its fields—all with an unfettered commitment to getting it right for our customers.

Electric Power Systems

Acquisition in 2018
Electric Power Systems provides electrical testing and engineering services. The company offers low and high voltage substations, AC and DC hi-potential, power circuit breaker, transformer, ground, generator load and system, control system acceptance, battery, and UPS acceptance testing services. It also provides oil handling and processing, relay and meter calibration, infrared thermographic survey, insulating liquid analysis, ground grid designing, arc flash analysis, and substation and transformer repair, commissioning, and insulating oil services. Additionally, the company offers short circuit and coordination, power factor, harmonic and power quality, load flow, and motor starting and load studies. Electric Power Systems was founded in 1977 and is based in Maryland Heights, Missouri.


Acquisition in 2005
AmerCable is develops and manufactures cable. The Company manufactures flexible mining cable for coal mines, oil and gas drilling and production, surface and underground mining, renewable energy such as solar and wind, and for general industrial applications.
CLIMAX advances the state of the art in powerful, precise, on-site machining. Customers with the most mission-critical, tightest-tolerance machining tasks come to us for the tools and solutions to achieve new levels of efficiency and profitability. Many of the largest companies on earth rely on us to solve the most complicated and challenging machining jobs imaginable.