Stellex Capital Management to Acquire Foundry and Forge Platform from Arcosa, Inc., Set for New Chapter
2024年8月5日 - 9:00PM
ビジネスワイヤ(英語)
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.
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