Pioneer Metal Finishing LLC, which is backed by Aterian Investment Partners, has acquired Sale Lake City-based Pilkington, a metal finishing business. No financial terms were disclosed. Weil Gotshal & Manges LLP and Deloitte Corporate Finance LLC advised Pioneer on the transaction.
GREEN BAY, Wis., Jan. 23, 2020 /PRNewswire/ — Pioneer Metal Finishing, LLC (“Pioneer”), a portfolio company of Aterian Investment Partners (“Aterian”), is pleased to announce the acquisition of Pilkington Metal Finishing, LLC (“Pilkington”).
Based in Salt Lake City, Utah, Pilkington is a leading metal finishing business serving customers across a range of industries including aerospace & defense, medical devices, general industrial, consumer goods and more. Pilkington’s core capabilities include anodizing, powder coating, wet coating, non-destructive testing and heat-treating services. Together with Pioneer, the combined company is a leading outsourced metal finisher with locations across North America with experience serving a highly diverse set of end markets, including aerospace & defense, medical, automotive, industrial, consumer goods, etc.
The acquisition of Pilkington by Pioneer is highly strategic and represents a continuation of Pioneer’s strategy of acquiring leading metal finishing businesses across North America. The Pilkington acquisition provides additional scale and further entrenches Pioneer into the aerospace & defense and medical end markets. Additionally, Pioneer and Pilkington have a rich cultural fit and will utilize each other’s complementary capabilities and footprint to continue providing best-in-class quality and service to support their customers.
Kevin Stevick, CEO of Pioneer, “We are very excited about the Pilkington family joining the Pioneer family. Pilkington has a fantastic business with a strong, dedicated customer base and a group of highly talented people that align with Pioneer’s values and culture.”
Van and David Pilkington, Owners of Pilkington, “We feel right at home with the Pioneer team, who really understand the metal finishing business. It’s a great cultural fit because we share the same commitment to our customers, our employees and to best industry standards. We are highly complementary of the folks at Pioneer and Aterian, who have been welcoming, transparent and straightforward throughout this entire process. Working together we’re fully enabled to meet the growing demand for metal finishing services here in the west.”
Daniel Krasnow, Vice President at Aterian, “It is great to be partnering with the Pilkington family. They have a great business that builds upon our strategy to acquire metal finishing businesses across North America.”
Weil Gotshal & Manges LLP and Deloitte Corporate Finance LLC advised Pioneer on the transaction.
About Pioneer Metal Finishing
Headquartered in Green Bay, Wisconsin, Pioneer specializes in providing outsourced metal processing services to customers across a range of industries including automotive, industrial, medical, consumer goods, aerospace & defense and more. Pioneer has been serving its customers for nearly 75 years and offers a range of processes including anodizing, plating, adhesive & coating applications.
For more information, please visit http://www.pioneermetal.com
About Aterian Investment Partners
Aterian Investment Partners is an operationally-focused middle market private equity firm that provides resources to companies to further enhance growth, operations and investment initiatives. The firm invests in businesses generating $25 million to $500 million of annual revenue with strong, proven franchises. After making an investment, Aterian, in partnership with management, seeks to focus on the critical growth, operational and liquidity initiatives of a business in an effort to drive value creation for all stakeholders.
For more information, please visit www.aterianpartners.com