INDUSTRY NEWS
U.K. Firm Buys Steel Casting Facility to Diversify Production Bondshold Ltd., Durham, U.K.,
purchased Darwins Holdings, which operates Darwins Castings, a steel sand casting facility in Sheffield, U.K. Te acquisition will give Bondshold three metalcasting operations, in addi- tion to sites in Durham and Cumbria. Serving power generation and
water processing industries in addi-
tion to oil production, Darwins will diversify the markets served by its new parent group, which had been primar- ily focused on oil and gas. “We are pleased to welcome Dar- wins to the Bondshold group of steel foundries,” said Paul Duncan, chairman, Bondshold. “With the fall in the price of oil having temporarily reduced world-
wide demand for flow castings, it is op- portune for Bonds to gain access to new parts of the market through Darwins.” Te newly expanded company will
employ approximately 270 people across all its facilities. Bondshold serves major multinational operations such as ExxonMobil, Siemens and General Electric.
Compass Automotive Sold to Private Investment Firm In early November, Shipston
Equity Holdings LLC, Lyford Cay, Bahamas, announced it had reached an agreement to purchase Compass Automotive Group, Franklin, Ind., a designer and manufacturer of aluminum chassis and suspension components for the North American automotive industry. Compass was established in 2007
by Monomoy Capital Partners by combining an existing portfolio company with aluminum casting assets acquired from Alcoa Inc. Consisting of two permanent mold casting facilities, Compass will be renamed Shipston Aluminum Tech- nologies and supply Busche Enter- prise Division Inc., Albion, Ind., a CNC machining firm.
“While Compass faced un-
precedented challenges during our ownership, we firmly believed that an operationally-focused value creation strategy would create a profitable, dynamic business out of the underperforming assets we acquired from a variety of sellers,” said Justin Hillenbrand, a partner and co-CEO of Monomoy.
December 2015 MODERN CASTING | 9
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60