Lincoln International Represents Code Hennessy & Simmons in the Sale of Reading Alloys, a division of KB Alloys, Inc. to AMETEK, Inc.
Chicago, IL, April 25, 2008 - Lincoln International, a leading global mid-market investment bank, today announced that Reading Alloys ("Reading") has been sold to AMETEK, Inc. ("AMETEK"). Reading was a division of KB Alloys, Inc. ("KB Alloys"), which is owned by Code Hennessy & Simmons ("CHS"), a Chicago based private equity firm. Lincoln International acted as the exclusive financial advisor to KB Alloys, Reading, and CHS. Terms of the transaction were not disclosed.
Located in Robesonia, PA, Reading is the largest producer of titanium master alloys for use in the growing number of titanium applications. The Company's titanium master alloys are used by the aerospace industry in critical parts and equipment including static engine components, aircraft engine rotating parts, and aircraft structural applications. Reading is also a leading global provider of highly engineered metal powders used in the aerospace, medical implant, military and electronics industries.
Lincoln International worked closely with executives from Reading, KB Alloys and CHS throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
"Lincoln International ensured the success of this transaction by combining its deep industry knowledge, strong relationships and hands-on approach to drive a great outcome," said Paul Jones, President of Reading. "We are pleased with the results of the sale process, and are excited to partner with AMETEK as we continue to build on our strong history of growth."
The sale of Reading builds upon Lincoln International's strong experience in the global chemicals, aerospace, and general industrial sectors, having completed approximately 35 such deals in the past year.
About Code Hennessy & Simmons, LLC
CHS is a Chicago-based private equity firm specializing in private equity investments and recapitalizations of middle market companies in partnership with management. CHS targets well-managed companies focused on growth with enterprise values between $75 million and $1 billion. With particular expertise in the Business & Consumer Services, Distribution, Consumer Products and Infrastructure & Industrial Products sectors, CHS has completed 69 platform investments and 163 add-on investments. Founded in 1988, CHS has formed five private equity funds and currently manages over $2.5 billion of capital. For additional information about CHS, please refer to the firm's website at www.chsonline.com.
About KB Alloys, Inc. (now KB Alloys, LLC)
KB Alloys is a leading international supplier of master alloys and specialty metal powders. The company manufactures aluminum based master alloys for the producers of aluminum mill products, including major global producers of primary aluminum. Based in Robesonia, PA, KB Alloys is the only North American producer of aluminum based master alloys and the only producer of strontium metal, used in automotive castings, outside of China.
About AMETEK, Inc.
Headquartered in Paoli, PA, AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2007 sales of more than $2.1 billion. The common stock of AMETEK is listed on the New York Stock Exchange (NYSE: AME), and is component of the S&P MidCap 400 Index and the Russell 1000 Index.
About Lincoln International
Lincoln International specializes in merger and acquisition services, private capital raising, and providing fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, New York, Paris and Vienna, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization 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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