Commercial Fluid Power
Carleton McKenna & Co, LLC, a Cleveland-based independent investment bank, acted as the exclusive sell-side representative to Commercial Honing LLC dba Commercial Fluid Power (“CFP”) in its sale to National Tube Supply (“NTS”), a leading supplier of carbon and alloy tubing and bar products.
Press Release
Cleveland, OH As a subsidiary of JRH Industries, the CFP acquisition marks the second transaction closed by the parent company over the last 12 months.
CFP is a fully integrated supplier providing finished machining, warehousing, repair, and distribution services for specialty tubing and bar products used in fluid power applications. CFP offers a series of value-added services, including honing, CNC and manual machining, boring, welding, skiving, and more, allowing them to produce tubing and bar products to customer specifications. The Company operates out of three locations, including Canton and Dover, Ohio and Rome, Georgia.
National Tube Supply is a leading supplier of carbon and alloy tubing and bar products across North America. Service capabilities span across numerous industries including Fluid Power, Energy, Heavy Equipment, Aerospace & Defense, and Industrial Manufacturing Through its acquisition of CFP, NTS will be able to grow the businesses’ market position, expand its national footprint, and increase value-added service capabilities offered to customers.
Industry Expert
Christopher J. McKenna
Managing Partner
Industry Expert
Nora T. Mahoney
Managing Director
Case Study
In July 2023, Commercial Fluid Power (“CFP”) was acquired by leading international supplier of carbon and alloy mechanical tubing and fluid power products, National Tube Supply. CFP is a national, fully-integrated supplier providing finished machining, warehousing, repair and distribution services for specialty tubing and bar products related to hydraulic applications. Carleton McKenna was engaged by CFP owners to run a full-scale sell-side transaction process and maximize valuation, while limiting and anonymizing sensitive information made available to potential competitors that would not be the ultimate buyer.
CM&Co carefully managed and tailored information flow and communications to all process participants. We ensured customer, supplier and employee information as well as valuable trade secrets were kept confidential from potential competitors until a single party was selected and was midway through the diligence process (providing high confidence of close). Given the tremendous synergies with the international powerhouse buyer, this tailored and carefully managed process allowed for creation of an exceptional partnership offering new opportunities for both businesses to expand product and service offerings as well as geographic coverage.
