BUENA PARK, Calif.--(BUSINESS WIRE)--ADC Aerospace (“ADC” or the “Company”), a leading manufacturer of complex, highly-engineered turnkey die-cast parts used in critical applications in the aerospace, defense, medical, automotive and specialty industrial markets, today announced that it has acquired Cast-Rite Corporation, a leading provider of advanced die casting and fabrication solutions.
Since being acquired in 2019 by GreyLion, an investment firm focused on high-growth businesses, ADC has continued to build on its long history of serving as a top-performing manufacturer and trusted business partner. This acquisition builds on ADC’s commitment to enhancing the quality and scope of products available to its customers and will enable the Company to strategically increase its penetration into targeted markets while further leveraging existing manufacturing capacity.
John Schaefer, Chief Executive Officer of ADC, said, “We are excited about the opportunity to combine Cast-Rite’s business with our existing capable and scalable platform, ADC Aerospace. While the manufacturing capabilities between our businesses are very similar, this acquisition provides a unique strategic opportunity and substantial acceleration of our growth plans. Over the next four months, we plan to transition the Cast-Rite business into our ADC Buena Park facilities and have an experienced project team in place to accomplish this goal."
David Ferguson, Managing Partner of GreyLion, said, “John and the entire ADC team have done a terrific job of successfully executing against the Company’s strategic business objectives and ensuring that ADC continues to be a leading manufacturer of complex, highly engineered turnkey die-cast parts used in critical applications throughout the aerospace, defense, medical, automotive and specialty industrial markets. This transaction will enable the Company to enhance the depth and breadth of the solutions it provides its customers and will further position ADC for continued success over the long-term.”
About ADC Aerospace
ADC Aerospace is a Manufacturing Solutions Partner to Aerospace, Defense, Medical, & Specialty Industrial Market Leaders. The Company is focused on being a market leader in precision, high-pressure die casting and additional value-added processes such as machining, coatings, and mechanical assembly. This “turnkey” approach and capability has enabled successful, long-term partnerships with several blue-chip customers including Raytheon Technologies, Honeywell, Safran, TransDigm Group, Heico, L3Harris, and Parker-Meggitt, among others. For more information about ADC Aerospace, please visit www.adc-aerospace.com.
About Cast-Rite Corporation
Cast-Rite Corporation (CRC) is a leading provider of advanced die casting and fabrication. CRC manufactures zinc and aluminum alloy die castings, as well as offer services, such as engineering, tooling and fabrication, and other value-added operations to serve a wide spectrum of defense, electronics, and commercial applications. For more information about Cast-Rite Corporation, please visit www.cast-rite.com.
About GreyLion
GreyLion focuses on investing in high-growth businesses in the lower middle market. The firm seeks to partner with existing founders, entrepreneurs, and management teams across several sectors to deliver capital in tailored and flexible minority and control structures. GreyLion invests $25-$125 million of capital per investment in companies primarily headquartered within the United States. The firm currently manages three private equity funds with aggregate commitments of $1.9 billion. For more information about GreyLion, please visit www.greylion.com.
