Key 3 Casting, LLC has been sold to Metal Technologies, Inc.
Lincoln International LLC (“Lincoln”), a leading global middle market investment bank, has announced that it represented Key 3 Casting, LLC (“Key 3” or the “Company”) in its sale to Metal Technologies, Inc. (“MTI”).
Key 3 is a leading supplier of lightweight aluminum high pressure die castings and ferrous (ductile and gray iron) castings, serving primarily the automotive & truck, industrial and aerospace & defense markets. The Company is comprised of two aluminum die and squeeze casting facilities as well as a ductile iron foundry in North America, and is focused on complex and lightweight components including engine housings and covers, drivetrain parts, brackets, steering racks, tie rods and sleeves. Founded in 2009, the Company today generates over $70 million in annual sales and employs over 300 persons.
Bob Tamburrino, CEO of Key 3, stated “With their in-depth knowledge of the automotive industry, Lincoln did a great job in managing the process for us and we are very pleased with the results. Key 3 has found a great home with MTI.”
Robert Satow, Managing Director and Co-Head of Lincoln’s Global Automotive & Truck Group, commented, “This transaction is good for both parties: Key 3 will benefit from becoming part of a larger castings group where it will have access to greater resources. For MTI this adds aluminum to their portfolio at a time when customers are placing more emphasis on light-weight components and provides MTI with a platform location in the South.”
Lincoln International acted as financial advisor to Key 3, working closely with the Company throughout the process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
About Key 3 Casting, LLC
Headquartered in New Hope, Minnesota, Key 3 is a leading manufacturer of lightweight aluminum high pressure die castings and ferrous castings used primarily in the North American automotive industry. For more information, please visit www.key3casting.net.
About Metal Technologies, Inc.
Metal Technologies, Inc. is headquartered in Auburn, Indiana and also operates iron foundries in Auburn, Indiana and in Three Rivers and Ravenna, Michigan. It provides metal castings throughout North America in the transportation, construction, compressor, small gasoline engine and other markets. The company was founded in 1997 by its Chairman and Chief Executive Officer Rick James. MTI remains privately owned today. For more information, please visit www.www.metal-technologies.net.
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