. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . inDustrY neWs
Norcast Buys Complementary Wear Parts Caster Swanmet Norcast Wear Solutions, Toronto,
Canada, parent of Norcast Castings Co., recently purchased Swanmet Engineer- ing Pty., a metalcaster with operations in Malaysia and Singapore producing cast products such as crushing and ground engagement tools. Norcast casts mill liners, crushers
and wear components for the min- ing industry. “The acquisition of the Swanmet
assets is a transformational transac- tion for Norcast Wear Solutions,” said Jan Castro, chairman of Norcast Wear Solutions. “The combination… sets the stage for the expanded cross
manufacturing and marketing of both companies’ products.” Castro said the company hopes
the acquisition will expand its market share particularly in Asia, Australia, Latin America and Africa. Norcast produces castings in
chrome-moly steel, high chrome white irons and nickel alloys. Swan- met provides specialty cast ferrous and nonferrous products to the mining, aggregates, maritime and oil and gas industries in Southeast Asia, Australia, North America, and Europe
METAL Watlow Batavia
Purchased by Equity Investor, Renamed
Metalcaster Watlow Batavia Inc.,
Batavia, Ill., has been purchased by LV2 Equity Partners, Midland, Mich., which has left the existing management team in place but renamed the company. The nonferrous caster, which pro-
duces primarily heating products, will be renamed Cast Aluminum Solutions LLC and be a wholly owned entity of LV2 Aluminum Castings LLC, which was formed to purchase the assets of Watlow Batavia. According to a press release issued
by LV2, the equity firm intends to provide leadership and strategic man- agement services to the metalcaster going forward. “We feel that [this] is a terrific company with great people and capabilities,” said Mike Flint, senior managing director of the equity group. “Our focus will be on provid- ing exceptional service to our cus- tomers and remaining their supplier of choice.” According to its website, LV2 typi-
cally invests in small to lower middle market companies ($3-30 million in sales). The firm has several niche manufacturing companies in its port- folio. Watlow Batavia focused on aluminum “cast-in” heating products for the food service, semiconductor, medical and aerospace industries, as well as for an array of other custom industrial applications.
METAL 12 Metal Casting Design & PurChasing MarCh/aPril 2010
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