Ty-Gard, a maker of restraints for cargo traveling on trains, trucks and ships, has been acquired by Somera Private Equity and other investors for an undisclosed price.
Ty-Gard has about 20 to 30 employees at its Bensalem, Bucks County, location, according to a company statement.
Somera and Entrepreneurial Equity Partners created a holding company, Gardian, to develop and make Ty-Gard and Shock-Gard products. Chief Executive Matthew Bullock will remain with the business and holds an equity stake.
The new Gardian business is based in Dallas and has facilities in Pennsylvania and Texas. Ty-Gard is a flexible restraint system used to prevent damage to products during transit. Shock-Gard is a foam panel that absorbs shock.
PSP Capital Partners also acquired a stake in the business, according to Somera.
Somera Private Equity, based in Los Angeles, invests in businesses with "unique competitive advantages," according to the company statement.
