RTI International Metals Inc., a supplier of advanced titanium mill products and fabricated components, has acquired private equity-backed Remmele Engineering Inc., a provider of precision machining and collaborative engineering for the aerospace, defense and medical device sectors. RTI paid $182 million for the company, which it acquired Remmele from the private equity firm Goldner Hawn Johnson & Morrison.
Greene Holcomb & Fisher (“GH&F”) is pleased to announce the $182 million sale of Remmele Engineering, Inc. (“Remmele”), a provider of precision machining and collaborative engineering, as well as other key technologies and services, for the aerospace, defense and medical device sectors, to RTI International Metals, Inc. (“RTI”), a global supplier of advanced titanium mill products and fabricated components. GH&F served as the exclusive financial advisor to Remmele in this transaction. RTI acquired Remmele from the private equity firm Goldner Hawn Johnson & Morrison Incorporated (“GHJ&M”).
In RTI’s press release announcing the completion of the transaction, Dawne S. Hickton, Vice Chair, President and CEO of RTI, said, “The Remmele acquisition provides RTI with significant growth opportunities that will allow us to expand our portfolio to meet the evolving needs of customers who are looking for an end-to-end supplier of advanced titanium products. Already the customer feedback has been tremendous, and we are delighted to be able to quickly close the acquisition so that we can execute upon our well-defined integration plan.”
Eric Nicholson, GH&F Managing Director, commented, “This represents the third transaction in which Greene Holcomb & Fisher has worked with Remmele, as it has transitioned ownership from family to private equity to strategic buyer. We are pleased that RTI will be in the position to build on the legacy of Fred Remmele, who founded the business over 60 years ago, the growth of the business under GHJ&M’s ownership, and the exceptional commitment of Remmele’s management and employees to the success of the business.”
About Remmele Engineering, Inc.
Remmele Engineering, Inc. was founded in 1949 in New Brighton, MN. It is a trusted quality manufacturing partner for firms in the aerospace, defense and medical device markets. Remmele offers precision machining and manufacturing engineering services, as well as supply sourcing, assembly/integration, and other key services and technologies that are essential to today’s most demanding and rigorous applications.
About RTI International Metals, Inc.
RTI International Metals, Inc., headquartered in Pittsburgh, specializes in advanced titanium, meeting the requirements of the world’s most technologically sophisticated applications in commercial aerospace, defense, propulsion, energy, industrial, chemical, and medical markets. For over 60 years, RTI has been taking titanium further through advanced manufacturing, engineering, machining, and forming processes. RTI delivers titanium mill products, extruded shapes, form-ready parts, and highly engineered components through our downstream integrated supply chain. RTI has locations in the United States, Canada, Europe and Asia.
About Greene Holcomb & Fisher LLC
Greene Holcomb & Fisher, with offices in Minneapolis, Phoenix and Seattle, is an investment banking firm that specializes in mergers and acquisitions, private placements and financial advisory services for the middle market. At GH&F, we blend our experience from nationally prominent investment banks, New York Stock Exchange-listed companies and leading law firms with senior-level attention and entrepreneurial ingenuity to deliver creative services to high quality companies.