Lazarus Capital Acquires Two Fabrication Companies
January 15, 2013
Lazarus Capital Partners has acquired a majority interest in two separate companies: Gasko Fabricated Products and Rhopac Fabricated Products. Gasko and Rhopac manufacture non-metallic components for applications and sub-assemblies that require gaskets, pads, seals, sound dampening, diaphragms and other related die cut parts. The Gasko facility, based in Medina, OH, makes die cut, close tolerance products used in a wide range of industries including lawn and garden, automotive, industrial, medical, appliance and aerospace. The Rhopac facility, headquartered in Libertyville, IL, specializes in manufacturing parts from foam, cork and other flexible non-metallic materials for a wide variety of end markets. Lazarus acquired both companies from Cornerstone Industrial Group, an Ohio-based PE firm that acquires niche manufacturing companies, primarily in the Midwest and New England regions. Cole Taylor Business Capital provided a $4.7 million loan to finance the deal.