INDUSTRY NEWS
Applied Process Has a New Majority Interest Partner Applied Process Inc. (AP),
Livonia, Mich., has taken on a ma- jority interest equity partner, High Street Capital, Chicago. High Street is a private equity firm with a track record of partnering with and growing successful companies since 1997. “We are pleased that we have a
strong partner in High Street Capi- tal going forward,” said AP founder John Keough. “My family and I will maintain a significant capital inter- est in the business. I will continue as a director and will be, as always, actively engaged in the growth of the business and the profitable con- version of components from one material and process combina- tion to a better, faster, cheaper one.” “Austempering offers our
customers a cost-effective way to
obtain stronger, lighter and less expensive parts,” said AP president John Wagner. “With High Street Capital as our new capital partner, we have the added resources to expand our capabilities, continue to improve upon our already industry-leading service, and to expand geographically.” HSC Principal Dick McClain
said, “The High Street Capital partners are looking forward to working with the world-class lead- ership team and employees at AP to continue AP’s mission ‘To grow the pie for Austempering.’” In 1984, Applied Process Inc. was incorporated as a standalone division of Atmosphere Group in Wixom, Mich., with John R. (Chip) Keough as president. In 1986 Applied Process moved to
its current Livonia, Mich. address. In 1993, Keough spun AP out of Atmosphere Group and his family became 100% owners. As de- mand for AP’s Austemper-focused technologies and services grew, AP expanded “to the other side of the lake” and commissioned AP Westshore in Oshkosh, Wis. AP’s most recent addition has been the Monster Parts plant in Oshkosh. In between, AP established plants and licensees in other coun- tries including Australia, England, Canada, China and India. Each has yielded organizational
experience and contributed to AP’s growing international net- work of industrial and technical contacts and resources, and to AP’s global reputation in Austem- pering technology.
10 | MODERN CASTING October 2014
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