MCM Capital Acquires Andover Corporation

Cleveland, OH – MCM Capital Partners (“MCM”), a micro-cap private equity firm based in Cleveland, Ohio is pleased to announce the majority acquisition of Andover Corp. (“Andover” or the “Company”). Andover, based in Salem, NH, is a leading manufacturer of highly engineered, thin film optical coatings and filters for aerospace and defense, semiconductor, environmental, medical device, astronomy and instrumentation industries globally.

Established in 1978, Andover has developed in-house integrated capabilities from prototype design through glass fabrication, coating, testing and assembly. Andover’s technical experience, proprietary technology and coating capabilities provide the Company the ability to design and manufacture unique filters and coatings solving their customers most difficult optic problems.

MCM partnered with Andover’s current President Mr. John Cotton and the executive management team to affect the transaction. Mr. Cotton, commented, “After my co-founder, Richard Bennett passed away, we recognized the importance of developing a succession plan that would ensure the longevity of Andover for our customers, vendors and most importantly, our wonderful employees. After conducting a thoughtful and thorough search process, we have found, in MCM, a great partner that will support our long-standing management team, help Andover improve its service levels, expand our capabilities and ultimately refine our strategic direction in the market.”

MCM Principal, Bobby Kingsbury, who led the transaction on behalf of MCM, stated, “Andover is a perfect fit with MCM’s investment focus, with proprietary technology in thin film optical coatings, a large market opportunity in growing industries and a cultural focus of exceptional quality and customer service. We look forward to bringing our expertise to bear, working alongside John and the rest of the Andover team.”

MCM Senior Operating Partner and recently appointed Chairman and CEO of Andover, Mr. Harry Shimp, commented, “Andover fits the mold of MCM’s most successful acquisitions. I am favorably impressed with the proprietary technology and talented people at Andover Corporation.” Mr Shimp continued, “The management team has a good mix of youthful enthusiasm and experience, are open to new initiatives and extremely motivated. I’m excited to begin working with the team and building upon the Company’s solid foundation to drive outsized growth.”

Andover is the fifth platform investment in MCM Capital Partners III.

Learn more about MCM’s Engineered Products and Components experience and investment thesis by clicking here.

Capital ideas,
delivered to your inbox

Recent Posts
View All

MCM Capital Partners (“MCM”), a micro-cap private equity firm based in Cleveland, Ohio, is pleased to announce its recent acquisition of AIM Processing based in Longmont, CO. AIM Processing is a custom plastic injection molder specializing in small, tight-tolerance parts and are experts in overmolding, insert molding, and metal replacement serving the medical device, industrial,...

Cleveland, OH –MCM Capital Partners (“MCM”), a micro-cap private equity firm based in Cleveland, Ohio, is excited to announce the majority recapitalization of Tech NH, Inc. (“Tech” or the “Company”). Tech, based in Merrimack, New Hampshire, is a technical injection molder serving the medical device, general industrial, defense and green energy industries. Founded in 1982...

As a private equity fund focused on lower middle market manufacturing and distribution businesses, we are often asked about our eventual plans to sell portfolio companies. Private equity investors typically have a planned investment horizon (typically 5-7 years) during which they expect to hold, grow and exit a portfolio company. However, the exact timing of...

Partnering with a private equity fund is sure to have a transformative effect on any business. Gaining clarity on these topics will help determine whether a private equity suitor can be a potential long-term growth partner.