Z Capital Partners completed the sale of Premier Thermal Solutions, which provides metal processing services. Z Capital sold the business to an affiliate of Aalberts. Z Capital acquired the business in 2017 as a corporate carveout.
Z Capital Partners, L.L.C., the private equity fund management arm of Z Capital Group, L.L.C. (together with its affiliates, “ZCG”), a leading privately-held asset manager, today announced that it has completed the sale of Premier Thermal Solutions LLC (“PTS” or the “Company”), a leading provider of metal processing services, to an affiliate of Aalberts N.V.
For more than 40 years, PTS has provided commercial metal processing services to a variety of industries, including aerospace & defense, automotive, heavy truck, energy, heavy equipment and other industrial end-markets. Since opening its first plant in Lansing, Michigan, in 1978, PTS has expanded its footprint to ten plants across the industrial Midwest.
Since acquiring the business in 2017 as a corporate carve-out from Gerdau, ZCG invested heavily in PTS’s organizational processes, technology systems, facility upgrades and leadership personnel, positioning the Company to capitalize on numerous growth opportunities in the fragmented metal processing industry.
“From day one, it was our goal to position PTS as a high-performing standalone company, and this transaction with a market leader in Aalberts N.V. underscores the success of those efforts,” said James Zenni, Founder, President and Chief Executive Officer of ZCG. “We worked closely with Steve Wyatt and the team we built around him to successfully scale the business organically and through key acquisitions, including the transformative acquisition of Al-Fe Heat Treating, while significantly improving its infrastructure, profitability and financial performance. We wish Steve and his team nothing but continued success.”
ZCG is a leading, privately held, New York based investment firm with approximately $5.0 billion of assets under management across complementary private equity and credit businesses.
Z Capital Partners, LLC (“ZCP”) is the private equity fund management platform. ZCP’s investment philosophy centers on operational value creation and is driven by targeted investment themes, deep sector expertise and strong partnerships with management teams. ZCP Principals have made over twenty-six years numerous investments across industries, including consumer products, consumer food, restaurants, gaming hospitality, manufacturing, media, publishing, metals and business services. ZCP current portfolio companies have worldwide annual revenues of approximately $1.6 billion, sell products in 55 countries, operate 15 manufacturing facilities, and have over 200,000 employees and associates directly and through joint ventures.
Z Capital Credit Partners, LLC (“ZCCP”) is the credit fund management platform. ZCCP invests across a range of credit investments including leveraged loans, private debt, and opportunistic stressed credit. ZCCP manages closed and open-ended funds as well as structured vehicles for strategic debt. Developed over twenty years, ZCCP’s approach to fundamental credit analysis encompasses proprietary sourcing, sophisticated structuring and comprehensive risk management using the Olympus™ system.