Boston based Kamylon Capital has exited its investment in Forgitron Technologies, selling the company to Accuride Corp. Terms were not released. Forgitron designs, manufactures and distributes rotary-forged aluminum wheels. The company is based in Camden, South Carolina. Kamylon restarted the company after acquiring it through a 2008 bankruptcy process.
Boston based, Kamylon Capital, has sold substantially all of the assets of its portfolio company, Forgitron Technologies, to Accuride Corporation (NYSE: ACW). Forgitron designs, manufactures and distributes rotary-forged aluminum wheels for the Class 8 truck market. Assets included an 80,000 square foot forging facility located in Camden, SC. Kamylon restarted the once-shuttered plant after acquiring the company through a 363 bankruptcy process in 2008.
“The acquisition of Forgitron Technologies by Accuride not only validates Kamylon’s investment thesis but as well proves what an operationally focused investment firm can accomplish,” commented Todd Latouf, former President and CEO of Forgitron and Operating Partner of Kamylon Capital. He went on to say, “I am proud of the efforts and goals accomplished by the Forgitron team and look forward to seeing what they will accomplish at Accuride.” The transaction closed on June 20, 2011.
Kamylon Capital is a private, principal investing firm making control equity investments in small to middle market businesses. By taking a hands-on, operational approach to its portfolio, Kamylon and its in house group of Operating Partners are able to mitigate risk, drive change and create value through a proprietary process Kamylon calls “managerial investing”. For more information, visit Kamylon’s website at http://www.kamylon.com.
Accuride Corporation, a company traded on the New York Stock Exchange, is one of the largest and most diversified manufacturers and suppliers of commercial vehicle components in North America. Accuride’s products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts and other commercial vehicle components. Accuride’s products are marketed under its brand names, which include Accuride®, Gunite®, ImperialTM, Fabco®, BrillionTM and Highway Original®.