HBM Holdings continues acquisition strategy, buys Indiana gears company

HBM Holdings, one of St. Louis’ largest privately-held companies, has acquired Schafer Industries, a producer of precision gears and machine parts.

Terms of the deal were not disclosed.

Schafer, based out of South Bend, Indiana, operates two divisions: Schafer Gear Works and Schafer Driveline.

The deal is part of HBM’s acquisition strategy, which was implemented several years ago. HBM, led by CEO Mike DeCola, targets companies within an EBITDA range of $10 million to $25 million, while remaining flexible for add-on acquisitions to its existing portfolio.

Schafer CEO Bipin Doshi and Stan Blenke, executive vice president and CFO, will stay involved during a transition period, according to a release.

Read more: St. Louis Business Journal

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