Sector: Industrial Products and Services
Fund: Fund II - Selected Investments
Leadership: Richard Bard, CEO
International Surface Preparation (ISP) is a global manufacturer and supplier of surface preparation and finishing equipment, including the associated parts, supplies and services for floors and other surfaces. Their products include centrifugal wheelblast, airblast, descaling, peening and deburring systems, as well as abrasives, diamond blades and other accessories. These types of equipment are used by builders, manufacturers of medical implant devices, refineries, railroad companies and shipyards.
We worked with ISP to institute senior management upgrades, close unprofitable business lines, streamline the sales and marketing organization, and sell off noncore business lines. We also helped dramatically improve cash flow through better credit and collection policies and improved inventory management. All in, ISP’s profitability doubled over our three-year investment period and was successfully sold to a European-based private equity group.