Boston, Massachusetts – August 15, 2019 – Sverica Capital Management LP (“Sverica”) today announced the sale of Dexmet Corporation (“Dexmet” or the “Company”), a market-leading provider of expanded metal materials, to PPG. This marks the culmination of a successful partnership with Dexmet, during which the Company experienced strong growth over Sverica’s six-year investment period.
After acquiring a majority position in Dexmet in 2013, Sverica helped refine the Company’s strategy, build a first-class Board of Directors, facilitate a leadership succession and oversee the Company’s ascent to becoming a preeminent provider of lightning strike protection solutions to the commercial aviation industry.
“Dexmet’s business development of long-term aviation and power storage programs over these past six years would not have been possible without a tremendous executive team, experienced independent board directors, expertly-run operations and a superior proprietary technology,” said Dave Finley, Managing Partner at Sverica. “We are grateful to have served as the Company’s capital partner, and are thrilled with what we were able to accomplish together.”
“Sverica has been a fantastic partner and was instrumental in helping us scale and achieve this favorable outcome,” said Tim Poor, Chief Executive Officer. “We are proud of what the Company has accomplished over the six years that Sverica has been associated with us.”
Headquartered in Wallingford, Connecticut, Dexmet is the leading provider of customized, highly-engineered expanded metal foils and polymers for mission-critical applications including lightning strike protection, power storage technology and structural technology. The Company maintains a diverse, impressive customer base predicated upon its reputation as the premier, quality supplier of precision-expanded metal foils and polymers. Dexmet’s ability to custom-engineer solutions to customers’ highly demanding specifications is unmatched in the industry. For more information, please visit https://www.dexmet.com/.