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
Chicago Business Barometer falls back in April, remains in contraction
The Chicago Business Barometer declined in April, reversing March’s gains, according to Market News International (MNI) and the Institute for Supply Management (ISM).
Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey