Dynacast has agreed to buy Tek-Cast Inc./MH Machining Group. Financial terms weren’t announced. Bensenville, Illinois-based Tek-Cast is a zync and aluminum die caster and machining company. Partners Group acquired Dynacast in January.
CHARLOTTE, N.C., Dec. 9, 2015 /PRNewswire/ — Dynacast, the world’s leading manufacturer of precision metal components, has signed an agreement to acquire Tek-Cast Inc./MH Machining Group in Bensenville, Illinois USA. The acquisition and the addition of the Tek-Cast team further expands Dynacast’s multi-slide zinc, aluminum capacity and CNC machining depth in North America.
This acquisition gives Tek-Cast’s customers access to Dynacast’s unparalleled experience, stemming from over 80 years pioneering the techniques and technologies that have redefined the die casting industry. The move will ensure every customer receives insight and expertise that adds value at every stage of the design and manufacturing process.
Simon Newman, Chairman and Chief Executive Officer of Dynacast, states: “Dynacast has a rich history of continuously refining our proprietary manufacturing technologies, in-house tooling expertise, and innovative design processes. It means that today, we can manufacture highly complex metal components in a fast, repeatable, and precise manner. We look forward to bringing added insight and capabilities to Tek-Cast’s customers. Additionally, this acquisition is the first step of many more to come over the next year or two.”
With the support and investment from Partners Group, American Industrial Partners (AIP), Kenner and Company, and management, Dynacast has the strategic insight and capital backing to achieve their global vision: growing to a $1.5 to $2 billion organization over the next three to five years.
The acquisition of Tek-Cast Inc./MH Machining Group is an excellent strategic move in the realization of this vision and furthers Dynacast’s position as the foremost global manufacturer of precision metal components.
About Dynacast International Inc.
Dynacast is a global manufacturer of precision, engineered metal components. Utilizing proprietary die cast and metal injection molding technologies, we offer robust solutions to many industries including automotive, consumer electronics, and healthcare. Every organization we work with benefits from over 80 years of experience, innovation, and techniques that have redefined the manufacturing industry. Dynacast operates 23 manufacturing facilities in 16 countries and consistently delivers value through engineering expertise, efficient operations, and Advanced Quality Planning systems. Please visit www.dynacast.com to learn more.
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 37 billion (over USD 40 billion) in investment programs under management in private equity, private real estate, private infrastructure, and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, Houston, New York, Sao Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich,Dubai, Mumbai, Singapore, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 700 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a major ownership by its partners and employees.
About Kenner & Company
Based in New York, Kenner & Company, Inc. is a private equity firm founded in 1986 that specializes in acquiring middle-market industrial and manufacturing businesses. Having worked together for over 20 years, the firm’s principals have significant investing and operating experience, enabling them to provide strategic direction to generate long-term value. Kenner has been instrumental in assisting Dynacast management to accomplish its objectives.
About American Industrial Partners
American Industrial Partners (“AIP”) is an operationally oriented middle-market private equity firm that makes control investments in North American-based industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 50 transactions and is currently managing more than $1.1 billion in equity capital. AIP invests in all forms of corporate divestitures, management buyouts, recapitalizations, and going-private transactions of established businesses with revenues of $100 million to $1 billion.