03/16/2021
Citizens Advises Tube Processing Corporation in its Sale of its Commercial Tube Processing Division to Nelson Global Products
PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive M&A advisor to Tube Processing Corporation in its sale of its Commercial Tube Processing Division (CTP) to Nelson Global Products, a portfolio company of Wind Point Partners.
Established in 1974, CTP is a manufacturer of complex, high-performance tube assemblies, metal fabrications and precision weldments for OEMs in a diverse set of end markets including on-highway, off-highway, construction and military durable equipment. Tube Processing Corporation has been run by George Seybert and his family since 1939. CTP’s new state-of-the-art facility, located on Fortune CircleWest in Indianapolis, is a testament to the Seybert family’s vision of continued growth.
Katherine Seybert Jacobsen, president and CEO of Tube Processing Corporation commented: “Deciding to proceed with the divestiture of our diesel engine market division, CTP, was hard; however, we were even more overwhelmed with the amount of work that a transaction process required. Engaging Mark Filippell of Citizens allowed us to move forward with the peace of mind we needed. We are now post close and couldn’t be happier with the outcome.”
Citizens M&A Advisory Managing Director Mark Filippell said: “Katherine Seybert Jacobsen and the entire Seybert family take their commitment seriously to their employees, suppliers, customers and the community at large. In this spirit, they built CTP into a world-class manufacturer. We are proud to have been able to assist them in CTP’s transition to its next chapter as part of Nelson Global Products.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has closed more than 150 transactions in the last five years and has more than 60 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $183.3 billion in assets as of December 31, 2020. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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