WAYNE, Pa., December 20, 2024 — Saothair Capital Partners, LLC ("Saothair"), a private equity firm specializing in middle-market manufacturing and industrial investments, has finalized the acquisition of a controlling interest in T BAILEY, LLC ("T BAILEY"). The transaction was completed through a newly established affiliate.
Based in Anacortes, Washington, T BAILEY (www.tbailey.com) has been a trusted name in the fabrication of large custom steel structures since its founding in 1991 by CEO Gene Tanaka. The company delivers a range of products including above-ground industrial tanks, marine pontoons, pressure vessels, casings, penstocks, and other specialized steel solutions. Known for exceptional craftsmanship, rigorous safety standards, and reliable project execution, T BAILEY has served clients across the Pacific Northwest, Alaska, and Hawaii.
Operating from its advanced 158,000-square-foot fabrication facility, the company is strategically positioned with direct access to barge, rail, and truck transportation—allowing it to handle oversized industrial projects with ease. Gene Tanaka will retain a significant ownership stake in the company and continue leading T BAILEY as CEO.
Kevin Madden, Co-founder and Managing Partner at Saothair, shared his perspective on the partnership: "Gene and his team have built an impressive organization over the last three decades. T BAILEY is a true leader in its industry and region, and we’re excited to support their next growth phase."
Echoing the sentiment, Saothair’s Co-founder and Operating Partner Richard Lozyniak added: "T BAILEY’s reputation is well-earned. The team's ability to consistently execute complex projects, often under challenging conditions, is remarkable. We are proud to join forces with such an experienced and skilled group."
Reflecting on the decision, Gene Tanaka commented: "Choosing the right partner was critically important to me. I wanted to ensure our employees and clients would be well-served for years to come. Throughout the process, Saothair demonstrated integrity and respect for what we’ve built. I’m confident this partnership is the right move for our future."
The transaction was supported by McGuireWoods LLP as legal counsel to Saothair, with financing from Polen Capital. T BAILEY received legal representation from Holland & Hart LLP and financial advisory services from TM Capital.
Saothair Capital Partners is a private equity firm focused on acquiring and growing middle-market manufacturing and industrial businesses. With a sector-diverse portfolio spanning paper and packaging, metals processing, automotive, building products, plastics, healthcare, and food & beverage, Saothair brings hands-on partnerships and strategic resources to each investment. For additional information, visit www.saothair.com.