Miller Johnson Represents Speyside Equity in Acquisition of Hazelton Casting Company and Weatherly Casting and Machine Company
In June 2019, Speyside Equity Fund I LP expanded its foundry holding platform through the acquisition of all of the assets and businesses of Hazelton Casting Company and Weatherly Casting and Machine Company. Hazleton Casting Company is a steel foundry that specializes in alloy steel casting and provides customers with a range of technical capabilities and the ability to cast, machine, assemble and test large, complex products. Weatherly Casting and Machine Company, a sister company to Hazleton Casting Company, is an iron and iron alloy foundry that specializes in very large castings and provides customers with machining and other value-add services, such as laboratory and non-destructive testing.
Jeff Stone, Managing Director for Speyside Equity, said, “Hazleton and Weatherly offer a fuller suite of solutions, both alloys and capabilities, for our existing portfolio foundries Sawbrook and Ashland. As the industry has been consolidating in North America over the past several decades, we strive to provide our customers with high quality, dependable and sustainable long-term partnerships.”
Miller Johnson acted as legal advisor to Speyside Equity in the transaction. Miller Johnson’s deal team was led by Dustin Daniels and Jordan Schwartz (M&A; Corporate) and David Hall (Finance), and included Loic Dimithe (Corporate), Neil Williams (Tax), Jim Ens (Real Estate), Alan Schwartz (Environmental), Nate Plantinga and Sandy Andre (Employment), and Tripp VanderWal (Employee Benefits).
(speysideequity.com) Formed in 2005, Speyside Equity targets companies with a history of strong revenue, a defensible position in their respective markets, and a core group of managers that can move the business forward. Since closing Speyside Equity Fund I LP in 2016, Speyside has closed 18 acquisitions across the United States, Canada, and Western Europe. Speyside’s portfolio companies generate total revenues of over $1 billion while employing over 3,000 people.
Hazelton Casting Company and Weatherly Casting and Machine Company
(wecast.com) Hazleton Casting Company and Weatherly Casting and Machine Company are located nine miles apart in Eastern Pennsylvania. Together, the companies offer a full-service cast-iron foundry solution that has been meeting the needs of customers in the United States and around the world for over a century.
Miller Johnson’s Mergers and Acquisitions Group
Miller Johnson’s M&A practice group collaborates with clients and their advisors to structure, negotiate and close deals. Our M&A professionals and subject-matter experts have significant experience representing acquirers, investors, sellers, targets, individuals and borrowers, which we leverage to navigate our clients through the various challenges that can arise in the context of mergers, acquisitions, dispositions and other business combination or investment transactions. Miller Johnson is top listed for mergers and acquisitions with U.S. News & World Report’s Best Law Firms and is ranked by Chambers USA. Our attorneys are consistently involved in deals honored as winners and finalists at the M&A Advisor’s national awards and the ACG M&A Deals and Dealmakers regional awards. For further information, please contact Dustin Daniels at (616) 831-1737.