WASHINGTON--(BUSINESS WIRE)--Forged Solutions Group, Inc. (“FSG”), a leading provider of complex, precision forged rings and closed die products to aerospace and defense customers, has acquired Steel Industries, Inc. (“Steel Industries” or the “Company”).
Headquartered in Redford, Michigan, Steel Industries is a vertically integrated manufacturer of open die forgings and seamless rolled rings for aerospace and defense, space, and industrial markets. Since 1913, Steel Industries has forged components for the most demanding end use applications with stringent quality requirements. Steel Industries’ complete suite of solutions from forging and heat treating to machining and finishing provides customers with a unique operational advantage. Steel Industries, now an FSG company, will continue to be led locally by Frank Witte and his existing management team.
Peter Manos, a Managing Partner at Arlington Capital Partners, said, “We are excited to begin our partnership with the Steel Industries management team and welcome them into the FSG platform. We have been highly impressed by the Company’s differentiated ring forging capabilities, strong customer relationships across a variety of end markets, and exciting growth prospects on rapidly scaling space programs. We look forward to supporting their continued strong growth as part of FSG.”
“I am excited to partner with FSG and the Arlington team to build on the storied legacy we have at Steel Industries,” said Frank Witte. “With access to additional corporate resources and capital for investment, I believe the Company is well positioned to continue on its growth trajectory.”
“Frank and his management team at Steel Industries are the foundation for our North American operations. Steel brings industry-leading on-time delivery, quality performance, and expansive capabilities that enable our company to better serve our customers,” said Ben McIvor, President of Forged Solutions Group.
Henry Albers, a Vice President at Arlington Capital Partners, said, “Steel Industries is a highly complementary acquisition for FSG, broadening its product portfolio, metals expertise, and customer relationships. We look forward to the growth opportunities this transaction will create for FSG and its customers and employees.”
About Forged Solutions Group
Forged Solutions Group provides high integrity forgings for the world’s most demanding applications. From aerospace and energy production, to underground mining and off-highway vehicles, we have forged solutions for advanced manufacturing industries for more than 100 years.
For more information: www.forgedsolutionsgroup.com
About Arlington Capital Partners
Arlington Capital Partners is a Washington, DC-based private equity firm that has managed approximately $7 billion in capital commitments. Arlington is focused on middle market investment opportunities in growth industries including government services and technology, aerospace & defense, healthcare, and business services and software. The firm’s professionals and network have a unique combination of operating and private equity experience that enable Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field.
For more information: www.arlingtoncap.com