New York-based private equity investor Patriarch Partners has acquired Hussey Copper, a copper product manufacturer. Terms of the deal were not released. Hussey Copper has operations in Leetsdale, Penn., and Eminence, Kentucky.
Patriarch Partners, LLC (“Patriarch”), a New York based private equity platform holding 76 companies today announced the acquisition of Hussey Copper, LTD (“Hussey”), a global leader in copper bus bar, and other copper product manufacturing. The 163 year old company operates manufacturing facilities in Leetsdale, PA and Eminence, KY with approximately 550 employees.
“We believe in American manufacturing and we are committed to the preservation of jobs in our nation’s heartland industries,” says Patriarch Founder and CEO, Lynn Tilton. “I take great pride in welcoming Hussey Copper, which embodies all we value important, to the Patriarch platform of American manufacturing companies. As the premiere copper manufacturer in the United States, Hussey well demonstrates our conviction that the path to solve our nation’s economic woes is to be the maker of innovative, quality products for today’s global marketplace.”
Joe Mallak, a respected manufacturing executive with 23 years of experience in the metals and automotive industries has been named CEO of the newest Patriarch company. Mr. Mallak has held executive positions at Aleris International, Century Aluminum, and Ford Motor Company. Says Mallak, “I am thrilled to have the opportunity to lead Hussey into its next stage of growth with new innovative products, and world class service to Hussey’s loyal customer base. I want Hussey to be a true business partner helping to foster greater success for all of our valued customers.”
About Hussey Copper, LTD
Hussey Copper is a global leader of copper bus bar, copper sheet and strip and transformer winding. Founded in Pittsburgh, PA in 1848 by Dr. Curtis G Hussey, the company quickly established a reputation for producing quality copper products. Hussey continued to produce sheet, strip, plate and bar at its original Pittsburgh facility until 1963 when it moved to a larger, more modern site in Leetsdale, 14 miles west of Pittsburgh. In the Leetsdale facility, Hussey continues to produce a variety of copper products including construction copper sheet, transformer winding, copper tape, copper nickel alloy sheet and plate, and copper strip, sheet, and plate. A further expansion took place in 1966 when the Eminence, Kentucky plant was opened to produce electrical copper bus bar. Additional information about Hussey Copper and its products is available at www.husseycopper.com.
About Patriarch Partners, LLC
Patriarch Partners, LLC, is a private equity firm and holding company managing 76 companies with annual revenues of more than $8 billion. Founded by Wall Street veteran Lynn Tilton in 2000, Patriarch is dedicated to saving American manufacturing jobs by saving American companies that have fallen from economic favor. Since its inception, Patriarch, through its managed funds, has bought more than 150 companies, and in so doing has saved over 250,000 jobs. Patriarch’s platform includes a broad range of industrial concerns including Dura Automotive, American LaFrance, Denali, and MD Helicopters, in addition to iconic American brands such as Rand McNally, Spiegel Catalogs and Stila Cosmetics. Under Ms. Tilton’s leadership, Patriarch has become the largest woman-owned business in America with companies in its platform employing more than 120,000 employees.