We focus on companies manufacturing Engineered Products for the Energy and Industrial markets.
Bridge Industries …
The Bridge name was selected because our business model is designed to provide a bridge, or safe passageway, for an owner or management team on their way to achieving goals that often include liquidity, growth, and ownership transition. The name also reflects our roots in Cleveland, OH, where manufacturing is a key part of the region’s development and many historical bridges date back to America’s early industrialization.
Bridge differentiates from private equity firms by maintaining a flexible holding company structure. We are not a fund with high overhead, complicated fees, and pre-conceived exit strategies. There are no outside pressures from limited partners driving investment decisions. We invest our capital on an equal basis with our partners. Strategic direction is determined by the management team in close collaboration with an active Board for each company. Our team is composed of experienced operating executives, who have successfully built and managed global manufacturing businesses.
In 2004 Bridge acquired Multi Products, a regional producer of oil and gas equipment and systems.
Bridge developed a management team, extended the product line, increased domestic and international distribution, and built systems capable of dealing with leading energy companies.
|Industry:||Oil and Gas Equipment|
|Products:||Artificial Lift Systems, plunger lift, control systems, valves|
|Customers:||Major E & P Operators, Supply Stores|
In 2005 Bridge invested in Cimarron Energy. Cimarron, a $10 million designer of oil and gas production equipment (separation and dehydration), was a customer of Multi Products. John Moore, CEO of Cimarron, and Jeff Berlin formed a partnership to expand Cimarron by acquiring production capacity and expanding to new geographic regions. In a productive couple of years, they acquired Central Tank, purchased and started up an additional fabrication facility, and tripled their revenues.
In 2007 Cimarron formed a partnership with Linx Partners, providing more capital to support continued expansion. The business successfully grew into all of the major shale development basins in North America over the next several years. From a modest beginning with 50 employees in 2005, the Cimarron team grew to almost 500 people in 2012 and was sold to Curtiss Wright for $135 million.
|Industry:||Oil and Gas Equipment|
|Products:||Production Equipment and Systems|
|Customers:||Major E & P Operators|
In 2013 Bridge acquired a controlling interest in TransTech Energy. The company designs, builds, installs and services storage systems for LPG (liquid petroleum gas) and NGL (natural gas liquids).
Bridge formed a partnership with the existing ownership and management team to continue expansion through capital investment, product development, geographic expansion, and strategic acquisitions.
|Location:||Rocky Mount, NC|
|Products:||Storage and Handling Systems|
|Customers:||Upstream, Midstream, and Downstream Energy|
Part of the strategic plan for TransTech Energy includes building or acquiring fabrication facilities to develop new products and services. The acquisition of Tubular Structures International LLC is the latest phase of the plan. TTE will continue to invest in people and capital equipment to build upon its strong position supplying storage and handling solutions for an active customer base in the energy industry.
|Products:||ASME code pressure vessels for energy industry|
|Customers:||Storage of NGL/LPG|
Building the Foundation:
Prior to starting Bridge, Jeff Berlin was president of Hawk Corporation. Hawk grew from less than $20M in revenues and 100 employees to 1600 employees, in 5 countries, 16 manufacturing sites, and over $300M in revenues during Jeff’s period of involvement.
Bridge is built on ideas proved at Hawk Corporation
|Location:||Cleveland, Ohio; plants in Illinois, Indiana, Pennsylvania, Ohio, China and Italy|
|Industry:||Discreet powder metal and friction material parts|
|Products:||Brake pads, clutch rings; gerotors, gears on a contract manufacturing basis|
|Customers:||Mining, construction and agricultural equipment manufacturers, airlines; lawn & garden, office equipment and hydraulic product manufacturers.|
- 1991: Berlin joins Hawk
- 1994: Began active acquisition program purchasing Helsel Inc. (a powder metal manufacturer in Indiana)
- 1995: Acquired largest competitor, creating Wellman Friction Products, a $65 million company
- 1998: Created the Hawk Precision Components Group which grew to $70 million in sales
- 2003: Hawk had $220 million in sales, 1600 employees
- 2007: Sold the Precision Component Group to Private Equity firm for $94 million