Accu-Tube Announces Mercury Tube Acquisition
ENGLEWOOD, CO, February 7, 2020 — Accu-Tube (“Accu-Tube”), a world leader in high-quality stainless steel tubing, announced today that it has acquired Mercury Tube (“Mercury Tube” or the Company), a leading global manufacturer of high precision stainless steel & high nickel alloy tubing based nearby in Englewood, CO. Mercury Tube will operate as a wholly-owned subsidiary of Accu-Tube.
Mercury Tube provides welded and drawn tubing and cold drawn outside diameter tubing in standard and custom sizes ranging from .125” OD (outside diameter) to 1.25” OD. The Company’s core alloys include 304/304L, 304H, 316/316L, 321, 400, 800, 825, 840 and E-Brite®. In addition, Mercury Tube has the capability to produce small diameter tubing at wall thicknesses ranging from .010” (.25mm) to greater than .083” (2.11mm).
Kevin McGrath, CEO of Accu-Tube said, “We are excited about acquiring Mercury Tube and adding Mercury Tube’s skilled employees and extensive range of tubing capabilities. In particular, Mercury Tube’s ability to weld and draw thicker-walled small diameter tubing will help us broaden our product offering to our medical customers. In the coming months, we expect to have a series of exciting new product introductions that will leverage the unique capabilities of both operations.”
Mercury Tube will continue operating out of its 40,000 square foot facility in Englewood, CO. The Company’s current customer base includes a diversified group of OEMs and Tier I suppliers in the industrial, aerospace, medical and thermal management end markets. Accu-Tube will invest in Mercury Tube by adding plug-drawing and centerless grinding technologies to expand capabilities for their customer base.
In the early 1970’s Mercury and Accu-Tube had shared ownership under Gary Oakley. This acquisition reunites the two long standing providers of precision stainless steel tubing.
Jesse Liu, a Partner at Washington Equity added, “We are excited to support Accu-Tube’s acquisition of Mercury Tube and see significant new business opportunities in the medical and aerospace end markets for the combined company.”
Headquartered in Englewood, CO, Accu-Tube is a leading manufacturer of highly engineered small-diameter stainless steel tubing. The Company was founded in 1973 and is a long-time tubing supplier to OEMs and Tier I suppliers in the medical, aerospace and industrial markets. Accu-Tube’s standard and custom size stainless steel tubing ranges from .009″ OD (.23mm) to .375″OD (9.35mm). www.accutube.com
About Washington Equity Partners
Washington Equity Partners is a sector-focused private equity firm that makes control equity investments in established lower middle market businesses with strong prospects for rapid organic and acquisition-driven growth. The firm is headquartered in McLean, VA and is focused on investing in: (i)Aerospace, Defense, and Government Contracting, (ii) Industrial and Advanced Manufacturing, and (iii) Software and Technology. www.w-equity.com