Ancor Capital Partners announced Feb. 7 it has acquired Phoenix-based PMA Photometals of Arizona Inc. Established in 1982, PMA is a leading designer and manufacturer of private-label and branded chemically-etched metal crafting dies for a spectrum of crafting suppliers and end consumers.
“We are excited to partner with the management team at PMA to help take the company to the next level,” said Ray Kingsbury, partner at Southlake-based Ancor Capital. “We will be investing further in the business to help it grow within several new areas, including fabrics, which will dramatically change the scope of the company.”
Ancor financed the PMA acquisition with Independent Bankers Capital Fund (IBCF) providing the subordinated debt and an equity co-investment, and First American Bank providing the senior financing. No price was released for the transaction.
This is the third transaction financed through IBCF and First American, two institutions that have long-standing relationships with Ancor spanning decades. With the acquisition of PMA Photometals, Ancor Capital has four manufacturing companies and five health care companies in its current portfolio.