Chase Capital Partners, the private equity arm of Chase Manhattan Corp., announced the formation of two roll-up companies this week. In partnership with TBG Industries, Chase combined Comsat RSI with Prodelin Corp., both satellite manufacturers, to form Prodelin Holdings.
The new company's product line ranges from small satellite dishes to huge satellite stations and the electronic components associated with them.
Meanwhile, Chase and Chicago-based TMB Industries, a holding company for automotive component manufacturers, have formed a company called Metalforming Technologies Inc.
The new company will acquire and operate metal stamping and fabricating companies serving the automotive and truck markets. It has completed its first two acquisitions, both in Michigan. Chase Capital Partners is the largest domestic bank-owned private equity group, with over $6 billion under management.