Fort Worth, TX – Cornerstone Capital Holdings has fully-exited its original investment in IR Engraving (“IR”). Cornerstone originally acquired IR in 2016 from Standex (NYSE:SXI) and worked with management to improve both operations and financial performance. In 2018, Cornerstone sold a majority stake of IR to MECA Solutions, a portfolio company of May River Capital, but retained a minority equity position in the combined company.
After MECA – renamed Precision Roll Solutions – experienced considerable growth under the subsequent ownership of May River, the company has been sold to Guardian Capital Partners. With this sale, Cornerstone also exits its remaining ownership stake.
For more information, please see the following press release:
Cornerstone Capital Holdings is a diversified holding company comprised of leading manufacturing and industrial service businesses. Cornerstone companies serve aerospace, defense, space and various industrial markets from seven locations throughout North America. Founded in 2000, Cornerstone has grown both organically and through multiple, targeted acquisitions.