Industry veteran David Meyer to join experienced management team in driving growth

An affiliate of Stellex Capital Management (“Stellex”), a middle-market private equity firm, is pleased to announce the execution of a definitive agreement to acquire McConway & Torley (“M&T”) and Standard Forged Products (“SFP”) (together, the “Company”) from Arcosa, Inc. (NYSE: ACA). The parties expect the acquisition to close during the third quarter.

Based in Pittsburgh, PA, the Company has been in continuous operation since 1869, producing cast, forged, and machined products for rail and industrial customers across its three facilities. As an independent entity, the Company is now positioned to accelerate its growth trajectory. This should enable the Company to pursue organic and acquisitive growth opportunities, both vertically and laterally. A key focus will be on identifying prospective opportunities that offer complementary capabilities to existing customers and markets, while also seeking to extend current capabilities to new customers and markets.

“We see tremendous potential in the Company’s capabilities and are committed to investing in its future,” said Michael Livanos, Managing Director at Stellex. “This acquisition aligns with our strategy of applying operational expertise in an effort to drive growth in critical manufacturing sectors. Additionally, it reinforces our dedication to the Pittsburgh region, complementing our local office opened in 2022 and marking our second investment in a Pittsburgh-based company.”

In conjunction with the transaction, Stellex named 25-year industry veteran David Meyer as CEO of the Company. He will work closely with the Company’s existing, long-tenured management team. Mr. Meyer said, “The team’s expertise in engineered solutions sets it apart in the industry. We’re eager to build on the Company’s 150-year legacy, continue to provide excellent service to existing customers, and explore new opportunities for growth. As we enter this new chapter, I’m excited to lead this talented workforce as they expand capabilities and reach new markets.”

Proskauer Rose acted as legal counsel for Stellex. Gibson, Dunn, & Crutcher acted as legal counsel and Evercore as financial advisor to Arcosa on the divestiture.

About Stellex Capital Management LLC

With offices in New York, Pittsburgh, Detroit, and London, Stellex Capital is a private equity firm with over $2.8 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insights, and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, food processing and tech-enabled services. Additional information may be found at www.stellexcapital.com.

Media: Rosalia Scampoli Marketcom PR 914-815-1465 rscampoli@marketcompr.com