Founded in 1946 by George L. Ohrstrom, GL Ohrstrom & Co applies a simple and proven ‘Buy and Build’ strategy to develop sustainable value. GL Ohrstrom & Co is currently in its third generation of family ownership and management.
The firm invests in family or management-owned companies whose shareholders desire to build their business by adding a financial partner. Because of our flexible investment horizon we can develop capital structures that deliver attractive financial returns for our investors and management teams. These structures allow for long-term capital appreciation that would not otherwise be realized with the limited investment horizons found in typical funds.
GL Ohrstrom & Co’s capital base and industry-seasoned partners enable us to provide a unique approach to building value. Our long-term outlook emphasizes patient capital, allowing us to build value over time without the pressure to sell the “winners” in a private equity fund structure. Moreover, our perspective allows us to preserve the core values of each company we acquire. Management talent and company culture are critical elements of our investment consideration.
George L. Ohrstrom founds GL Ohrstrom & Co and focuses on investment banking, brokerage and real estate development.
George L. Ohrstrom sponsors the construction of the Bank of Manhattan building at 40 Wall Street, which — for a short time — becomes the tallest building in the world. He continues structuring deals — primarily in real estate and utilities — for the next 15 years.
GL Ohrstrom & Co changes direction, focusing on the business of principal investment and begins to acquire small industrial companies using a leveraged buy-out or “boot-strap” model. The first acquisition that year is Peerless Manufacturing and the firm subsequently buys Ohio Pattern Works and Rotary Lift Company.
GL Ohrstrom & Co merges Rotary Lift into Carlisle Corporation (NYSE:CSL) and the firm becomes the controlling shareholder of CSL. The following year, the firm takes Rotary Lift out of Carlisle and merges it with two other businesses to form Dover Corporation (NYSE:DOV)
George L. Ohrstrom dies and his son George L. Ohrstrom Jr. takes over the firm. During the ensuing years, he works with a small group of private investors, to acquire and successfully build up several businesses.
GL Ohrstrom & Co purchases Harrow Industries and subsidiary, Florida Heat Pump (FHP).
GL Ohrstrom & Co purchases Roper Industries and successfully supports its management through a variety of growth stages and development to position the company for the public markets.
GL Ohrstrom & Co sells Harrow Industries to Ingersoll Rand, and keeps FHP. The following year, Roper Industries is listed on the AMEX, and is now a NYSE listed company (NYSE:ROP).
Wright Ohrstrom joins GL Ohrstrom & Co, purchasing the controlling share of the business in 2005 and continuing the investment model pioneered by his grandfather. Derrick Key joins the firm as an Operating Partner from Roper Industries.
Cardiff Holdings Corp is created and invests in Shoreline Solutions, Inc. and Source One Direct, Inc.
GL Ohrstrom & Co sells FHP to Robert Bosch GmbH.
GL Ohrstrom & Co invests in Magnatech International Inc.
GL Ohrstrom & Co invests in Seal Industries (now d.b.a. Guardian Compliance) and two years later completes the add-on of Environmental Analytics, Inc. Additionally, the firm successfully recapitalizes Magnatech and renames the holding entity as M International, Inc.
GL Ohrstrom & Co sells M International Inc.
Bill Ughetta and John Thomson join GL Ohrstrom & Co to help expand the business.
We have long term investment horizons and focus on a "Buy and Build" investment strategy across a wide array of industries in companies that produce value-added products or services. We do not focus on turn-around investments or businesses in real estate, high tech information technologies or highly regulated industries.
We give our management teams the autonomy to execute their business plan while providing the financial and strategic support. We assist management with the execution of their strategic plans, and work collaboratively to enhance the value created for all the company's stakeholders. Our investment criteria are as follows:
· Companies located in the United States or Canada.
· Market leadership position or potential to attain it with further strategic assistance.
· Manufacturers of highly engineered products or providers of value-added services.
· EBITDA between $3 million and $10 million, representing no less than 10 percent of sales.
· Reasonable capital expenditure and working capital needs.
· Niche markets in general industry, aerospace, energy, medical devices, instrumentation and consumer goods.
· Companies with professional and experienced management teams.
· We can invest in situations where the management team has been identified but not yet in place.
· Recapitalization, Control Transaction, or Growth Capital Investments.
· Strategic benefit to an existing portfolio company.
· A minimum of $4 million in Sales.
Prior to our investment, we ensure that management and GL Ohrstrom & Co understand and respect each other's goals for future growth and profitability. We take particular care to properly structure our investments so that these goals and interests are aligned. We specialize in investing in family owned businesses that are ready to grow into their next stage of development.
GL Ohrstrom & Co provides critical assistance and guidance on various strategic, financial and management challenges. Our expertise in assisting management comes from our experience as successful private equity investors with significant experience across a broad array of industries. We are different from other private equity groups because:
FLAT ORGANIZATIONAL STRUCTURE
Decision makers are involved from the start of every discussion, negotiation and transaction review.
DECISIVE & RESPONSIVE
GL Ohrstrom & Co promptly provides a clear response. We believe in candid communication and approach each decision in our partnership with common sense and integrity.
QUICK TO CLOSE
Our track record is based upon a history of prompt analysis and timely closing on each acquisition. Once we have an executed a letter of intent, you can be assured that our focus is to complete the investment transaction as soon as possible.
STRONG TRACK RECORD
Since its inception, GL Ohrstrom & Co has completed over 75 transactions and listed several companies on the NYSE.
WE ARE NOT A FUND
We invest capital on a deal-by-deal basis, allowing us to be creative in structuring our transactions. For over 20 years we have worked with a number of domestic and international family offices that have invested alongside our firm.
NO FORCED LIQUIDITY
We are not constrained by the typical holding periods of Private Equity funds. We do not face the pressure to sell our most successful investments in order to raise the next fund. Our longer investment horizon enable us to build long-term relationships and create additional value.
CORE VALUE PRESERVATION
We believe that great businesses are built on a foundation of strong core values. A business’s operating philosophy, culture, traditions and employee practices are key success factors in building a great business. We work to preserve and enhance these core values, and re-emphasize best practices to support continued growth of the business.
SEAL INDUSTRIES, INC. (dba GUARDIAN COMPLIANCE)
Provider of environmental compliance and repair services to the refinery, petrochemical, power
generation and process markets.
Environmental Analytics, Inc.
Provides environmental compliance services to the downstream energy and petrochemical markets.
CARDIFF HOLDINGS CORP.
Shoreline Business Solutions, Inc.
North Kingston, RI
Card personalization service bureau for the financial services industry.
Source One Direct, Inc.
Card personalization and print fulfillment services to the insurance, financial services, retail,
telecommunications and loyalty program markets.
San Leandro, CA
Market leader in the design and manufacture of de-stoning equipment (pitters) for the global food
THE VICTORY RACING PLATE COMPANY
Manufacturer of aluminum horseshoes and distributor of steel shoes and other ferrier-related products.
For more information about GL Ohrstrom & Co or to discuss a potential transaction, please contact us at:
GL Ohrstrom & Co
410 Park Avenue
New York, NY 10022
Tel 212 759 5380
Fax 212 486 0935
Wright Ohrstrom began his finance career with Robert Fleming Securities, Inc., in London, where he was involved in equity sales and business development. After Fleming, Wright enrolled in the London Business School MBA program with a focus in Operations Management and Management of Growing Businesses. After his MBA, he worked in London as the Chief Operations Officer of a small middle market business, before joining GL Ohrstrom & Co, in 2001. In 2005, Wright took over the firm and has been providing leadership since that time. Wright's business experiences vary from print media, manufacturing, service and distribution businesses. Wright is the chairman of the Boards of Directors for Cardiff Holdings and Seal Industries, Inc.
Bill Ughetta joined GL Ohrstrom & Co from Long Point Capital where he was a founding partner since 1997. Bill has nearly 30 years of experience investing in middle market companies and has completed transactions in a variety of industries including consumer products, manufacturing, industrial distribution and commercial services. Prior to Long Point Capital, Bill was a partner of Morgan Lewis Githens & Ahn, an investment banking and private equity firm that managed a $150 million middle market buyout fund from 1990 to 1997. Bill started his career in 1984 investing in middle market businesses for The Prudential Insurance Company of America. He has an MBA from Columbia Business School and an AB from Princeton University.
John Thomson is the Chairman of Thomson Equity Partners, LLC a New York based private investment firm and has joined Wright and Bill as a partner in GL Ohrstrom & Co. From 1984 to 2011, John was a founding partner of Norwest Equity Partners of Minneapolis and New York raising six private equity partnerships and three mezzanine partnerships. Additionally, John is a partner of Dubilier Thomson Partners, LLC a mid market private investment firm based in New York; Chairman of Cirker’s Logistics, a Manhattan based art, antique and fine furniture and logistics business; and a board member of Jacobson Companies, a Des Moines based global logistics company. John is on the board of trustees of the Walker Art Center, Youth, Inc., the School at the Art Institute, and on the Collection Council of the Museum of Modern Art and the Guggenheim Museum. He is a graduate of the University of South Dakota with a BS in Management and an MBA.
Derrick Key is the former CEO of Roper Industries. Derrick started his relationship with Roper in the early 1980's as a consultant from A.T. Kearny. By 1982, Derrick had become Vice President, and then from 1991 to his retirement from Roper in December of 2001, he served as the company's CEO and as Chairman. After retiring from Roper, Mr. Key joined GL Ohrstrom & Co. Derrick currently serves on the board of all the GL Ohrstrom & Co portfolio companies.