Cowen advises Applied Process, Inc., a portfolio company of High Street Capital, in its sale to Aalberts N.V.

Tombstone applied aalberts Transaction 2019 en


Applied Process, a portfolio company of High Street Capital, has been acquired by Aalberts N.V. Cowen acted as exclusive financial advisor to Applied Process and High Street Capital.


Applied Process is a provider of specialty heat treating services for a variety of applications and end markets including agriculture, heavy truck, light vehicle, railroad, construction, mining and other machinery. The Company’s primary process is austempering, an isothermal treatment that strengthens ferrous materials more effectively than conventional heat treating processes. Applied Process has three locations in Livonia, Michigan; Oshkosh, Wisconsin; and Fort Smith, Arkansas.


Aalberts N.V. (ENXTAM:AALB) is a leading manufacturer and provider of mission-critical systems and processes across its Installation Technology, Material Technology, Climate Technology and Industrial Technology segments. Aalberts has sales of approximately $3.1 billion and operates at over 150 locations worldwide.

High Street Capital is a leading provider of flexible capital and operating expertise to lower middle market businesses. The firm looks to acquire, recapitalize, and provide growth capital to outsourced business services, niche manufacturing and value-added distribution & logistics companies with revenues of $10 to $100 million.


Photo Andre Augier

André A.

Vice Chairman
Investment Banking, Cowen

+1 248 9884 519

Photo Gene Bitonti

Gene P.

Managing Director
Mergers & Acquisitions, Cowen

+1 248 9884 524

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