Economy
Sky Island Capital Acquires Polished Metals
Written by Tim Triplett
February 21, 2020
Sky Island Capital, a Dallas-based private equity firm, has made a majority investment in Polished Metals Limited alongside the founding Lazarus family. Headquartered in Hillside, N.J., Polished Metals is one of the country’s largest polishers and suppliers of architectural and ornamental metals, offering a variety of finishes and metals to several end markets, including the architecture and design community, elevators, escalators, transportation, and many others.
The company is known for its ability to polish high-quality mirror- and satin-finished sheets, bars, tubes, angles, and other shapes that have been featured in iconic architectural projects, including Hudson Yards, the National Museum of the U.S. Army and One World Trade Center.
“We are grateful that the Lazarus family chose to partner with Sky Island for their next stage of growth. We are looking forward to expanding the business while continuing to focus on the quality and customer service that has been a trademark of Polished Metals,” said Pat Murley, a partner of Sky Island.
“We are excited to partner with the Sky Island team. This transaction will allow us to take advantage of numerous new growth opportunities and ultimately better serve our customers,” said David Lazarus, president of Polished Metals. Jack Waterstreet, the managing partner of Sky Island, added, “We are enthusiastic about the industrial metal processing space and plan to grow through organic investment as well as completing add-on acquisitions that bolster the company’s product portfolio and customer base.”
Sky Island Capital says it has $135 million of assets under management and claims a history of executing transactions with complex dynamics, including corporate carveouts, public to privates, family-owned businesses, lender-controlled businesses, management buyouts and other special situations.
Tim Triplett
Read more from Tim TriplettLatest in Economy
AMU: Consumer auto delinquencies: Warning sign for consumer health?
The Consumer Federation of America estimates rising total auto debt at a staggering $1.66 trillion, along with increasing repossessions and a sharp increase in delinquencies.
Beige Book: Regional market growth remains mostly flat
Economic growth in some US regions in September was offset by challenges in others, causing the market to appear largely unchanged overall, according to the Federal Reserve’s latest Beige Book report.
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.
Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.