Continuim Poised to Accelerate Growth at COMTEC
Continuim Equity Partners (“Continuim”) is pleased to announce our acquisition of COMTEC Mfg., Inc. (“COMTEC” or the “Company”). Headquartered in St. Marys, PA, COMTEC manufactures highly engineered production components from ferrous and nonferrous materials utilizing the powdered and sintered metallurgy processes.
Since founding the business in 1987, Mr. David DeLullo, Jr. and his team at COMTEC have produced complex parts for a diverse set of customers. The Company produces high value components for clients in the Fluid Gas, Agricultural Equipment, Medical, Military, Hardware, Heavy Truck, Automotive and other industrial end markets. COMTEC, which is ISO:9001 certified and ITAR registered, adds value for its customer base by converting components that have historically been manufacturing through more costly or time-consuming methods to the powdered metal process.
COMTEC has earned its excellent reputation in the industry due to its commitment to customer service and by delivering high-quality parts on-time. The Company prides itself on cleanliness, safety, and its ability to produce multi-level, net-shape parts. COMTEC has presses as large as 825 tons and ample capacity to support continued growth with new and existing customers.
Continuim is excited to acquire COMTEC from Mr. DeLullo, who will remain close to the Company in an advisory role. We are also pleased to work together with COMTEC’s President, Donna Wendel, and the rest of the talented and engaged team to drive meaningful growth moving forward.
By implementing our Efficiency Driven Growth Engine ("EDGE"), Continuim will help COMTEC fill available production capacity, utilize Lean operating principles to drive efficiency, and pursue strategic acquisitions to further diversify the Company’s capability set and customer base.
David J. Delullo, Jr, the founder and prior owner of COMTEC, said “I am very honored to know that Continuim will continue to operate the Company with the same traditions we have over the last 35 years. With Continuim’s help, COMTEC will continue to grow and be elevated to an even higher level. I don’t think there could have been a better match to help me with business succession planning.”
George Pilafas, Managing Partner of Continuim, stated, “We are excited to partner with Dave DeLullo and the team at COMTEC. The Company is an ideal fit for Continuim’s mission, which is to acquire and support the growth of successful, family-owned manufacturing businesses in our region. COMTEC’s facility, modern equipment and talented team is a perfect platform for our growth strategy in the powdered metal sector.”
Donna Wendel, President of COMTEC, added “I am excited and look forward to continuing to serve as President of COMTEC alongside Continuim Equity Partners. Our team has welcomed Continuim due to their professionalism, clear alignment with our culture and their desire to support COMTEC’s growth while treating people and doing business the right way.”
About Continuim Equity Partners
Continuim is a Pittsburgh-based private equity fund with over $100 million of capital commitments. We focus exclusively on acquiring and continuing the growth of successful family-owned manufacturing and industrial businesses ranging from $3MM to $10MM of EBITDA.
We bring proven operating strategies, committed capital and a talented team of industrial operators to support family-owned manufacturing, value-added distribution, and industrial maintenance companies in our Region. Our name is derived from what we consider most important to the growth of family-owned industrial businesses — continuous improvement.