2019 – Speyside Equity

Oct 22

Avon Machining Announces the Acquisition of Plasma-Tec

By speqwpadmin Acquisitions

Avon Machining has announced the acquisition of Plasma-Tec on October 21, 2019. This opportunity is aligned with Avon Machining’s growth strategy by enhancing our capabilities and expanding into new industries.

Avon Machining is a leading manufacturer of large, complex, precision parts for the Aerospace, Defense, Construction, Mining, Energy, and Agriculture industries in North America and beyond. As a Tier 1 supplier to OEMs, Avon Machining will collaboratively engineer and provide the part solution that maximizes long-term reliability, durability, and overall cost effectiveness for its customers.

”As a reliable, cost-effective domestic source for high-quality precision parts, we look forward to expanding the strong relationships Plasma-Tec has built over the past 38 years with several leading OEMs.
Chad FietsamCEO for Avon Machining

Avon Machining, a portfolio company of Speyside Equity, acquired the assets of Avon Gear in May 2017. Avon Gear was founded in 1974 in a 10,000 square foot building in Rochester, MI. Throughout the years, Avon Machining has expanded its manufacturing footprint, increasing to the current 110,000 square foot facility located in Shelby Township, Michigan. Avon Machining was named by the Detroit Free Press as a Top Workplace in 2018.

Jun 18

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Speyside Equity Acquires Hazleton Casting and Weatherly Casting and Machine

By speqwpadmin Acquisitions

Speyside Foundry Holdings, a portfolio company of Speyside Equity Fund I LP, announces the acquisition of Hazleton Casting Company and Weatherly Casting and Machine Company. Hazleton Casting Company is located in Hazleton, PA, and Weatherly Casting and Machine Company is located in Weatherly, PA. Both transactions were completed on 6/12/2019.

Hazleton Casting Company is a steel foundry specializing in alloy steel casting. The Hazleton facility has operated continuously since the early 1900s. The company has multiple induction furnaces, simulation software, and in-house 3-D printing to provide customers with a range of technical capabilities and the ability to cast, machine, assemble, and test large complex products.

Weatherly Casting and Machine Company, a sister company to Hazleton Casting Company, is an iron and iron alloy foundry specializing in very large castings. Weatherly provides machining services along with other value-add services such as laboratory and non-destructive testing.

”Hazleton and Weatherly offer a fuller suite of solutions, both alloys and capabilities, for our existing portfolio foundries Sawbrook and Ashland.
Kevin DaughertyManaging Director

As the industry has been consolidating in North America over the past several decades, Speyside strives to provide customers with high quality, dependable, and sustainable long-term partnerships.

Mar 18

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Speyside Equity Announces the Sale of Western Industries Plastic Products to Littlejohn Capital

By speqwpadmin Portfolio Sales

Speyside Equity Fund I LP has announced that it has completed the sale of the Western Industries Plastic Products LLC to LJC Investments IV, LLC, an investment vehicle controlled by Littlejohn Capital, LLC. Speyside has retained ownership of the EPG business unit, which has been integrated with Block Midland Group. Western is a niche technical manufacturer of large blow molded products.

Norris McLaughlin, P.A. served as legal counsel and Stout Risius Ross Advisors, LLC served as exclusive financial advisor to Speyside with respect to this transaction.

”We congratulate and thank the Western management team for their impressive execution of the strategy that we created during due diligence. We are very proud to have partnered with management at Western. Their creative solutions to extract as much value as possible during the completion of this deal was unparalleled.
Eric WiklendtManaging Director

With more than 30 years of rich history, Western has grown to become an industry leading designer and manufacturer of premium blow-molded finished products and components for a variety of end markets and offers one of North America’s largest selections of large-head capacity machinery. The company’s end markets include the industrial, furniture, sports and leisure, transportation, and lawn and garden sectors, and its products are shipped worldwide. Founded in 1987, Western is headquartered in Winfield, Kansas.