Gladstone-backed Specialized Fabrication Equipment Group, a designer and seller of specialty equipment for the fabrication and welding industry, completed the acquisition of CLIMAX, a designer and manufacturer of portable machine tools, from Industrial Growth Partners, an investment firm. Financial terms were not disclosed. "The company is excited to add the Climax portfolio to the group of products we offer our customers and partners, and to join with such a strong management team at Climax to continue the growth of the combined company," Vinay Varma, SFEG CEO.