MILWAUKEE - Grace Matthews Inc. and Ranbar Electrical Materials Inc. announced the sale of Ranbar to Gabriel Performance Products LLC. Grace Matthews, a Milwaukee-based investment bank, advised Ranbar on this transaction.
Headquartered in Harrison City, Pennsylvania, Ranbar is a custom developer and manufacturer of specialty resins, varnishes and coatings materials used in the industrial coatings, steel, electrical and motor industries. Its product lines consist of alkyd, epoxy, and polyester coating resins, steel coatings, and electrical varnishes, and are sold directly to customers and through distributors.
Randy Russell, CEO of Ranbar, commented, "Together, Gabriel and Ranbar are ideally positioned to continue to serve our customers and accelerate growth through our combined operational expertise, product innovation and commercial presence. We are all looking forward to joining the Gabriel team."
Gabriel intends to retain all product lines and their respective brand names. Ranbar's Harrison City facility will serve as Gabriel's third production plant.