Texas private equity firm Rox Capital Partners announced Thursday that it has acquired Dallas threaded fastener manufacturer Interstate Threaded Products and, in turn, will make the business the foundation of its newly launched industrial fastener platform.

ITP, founded 50 years ago, provides fasteners to the industrial, construction, infrastructure, power generation, telecommunications, agriculture and other sectors, Rox officials said. The firm said that it would grow its new fastener business through both acquisitions and “organic growth initiatives,” and that ITR President Rick Stone would continue to lead the company through “its next phase of growth.”

Terms of the ITP purchase were not disclosed.

"ITP has built an outstanding reputation over more than five decades by delivering exceptional products and service to its customers,” Rox Managing Partner Mark Sparrow said in a statement. “The company's strong market position, loyal customer relationships and commitment to operational excellence make it an ideal fit for Rox.”

Source: Industrial Distribution