Lincoln International Represents Connell Limited Partnership in the sale of the Components Group of Anchor Danly, Dayton Progress Corporation, and PCS Company, to MISUMI Group Inc. of Japan
Lincoln International, a leading global mid-market investment bank, has announced its role as exclusive financial adviser to Connell Limited Partnership (“Connell”) in its recently announced sale of the Components Group of Anchor Danly, Dayton Progress Corporation, and PCS Company, to MISUMI Group Inc. of Japan. The acquisition, for a total of $200 million, is expected to close in November and is subject to regulatory approvals and customary closing conditions.
The Die Set and Fabrications businesses of Anchor Danly are not included in this acquisition.
“MISUMI Group is a growing, successful company that has established a supply chain which delivers low cost and short lead times in Japan, China and the rest of Asia. Ownership by MISUMI is a great thing for our company and for customers and distributors of Dayton Progress Corporation and Anchor Danly”, said Alan Shaffer, President & CEO of Dayton Progress. “MISUMI brings additional products, global supply chain resources and relationships with global OEMs and is a very complementary fit with Dayton Progress Corporation and Anchor Danly’s strength in products, service and distribution channels. We will have access to lower cost and short lead time production systems and expect many other product synergies from MISUMI. Dayton Progress Corporation and Anchor Danly bring to MISUMI products made to Western industry specifications, leading sales and service coverage in North America and Europe plus a long history with the global automotive industry.”
Anchor Danly and Dayton Progress Corporation are North American and European industry leaders in the manufacture of tooling and die components for stamping and forming. Anchor Danly has two factories in the U.S. and two in China employing over 400 people. Dayton Progress Corporation and PCS Company have 10 factories in North America, Europe and Asia employing 1,000 people and shipping to 13,000 customers in 51 countries.
Lincoln International acted as the exclusive financial advisor to Connell, working closely with the management of Anchor Danly, Dayton Progress Corporation, and PCS Company. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, debt advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With thirteen offices in the Americas, Asia and Europe, Lincoln International has strong local knowledge and contacts in key global economies. The firm provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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