17 May 2021

Miller Johnson Represents TRM Equity in Acquisition of Elyria Foundry

The Transaction

Earlier this year, TRM Equity acquired Elyria Foundry. Based in Elyria, Ohio and Greenville, Pennsylvania, Elyria Foundry specializes in ductile iron castings ranging from 50 to 200,000 pounds and serving a broad set of markets including defense, oil and gas, construction equipment and mining.

“The foundry industry has been under considerable pressure over the last few decades, and we have focused on the companies with unique positions and capabilities in their space. Elyria Foundry has range to produce very large castings and the depth of technical talent to solve problems for its customers. We look forward to partnering with the Elyria Foundry team to navigate through a challenging environment and continue to be a valued resource to its customers far into the future,” said Jeffrey Stone, Managing Director for TRM Equity.

Miller Johnson acted as legal advisor to TRM Equity in the transaction. Miller Johnson’s team included Dustin Daniels (M&A), Jordan Schwartz (M&A), Hunter Reams (M&A; Tax), Benton Schallip (M&A), Neil Williams (Tax), Jim Ens (Real Estate), Grant Schertzing (Environmental), and Jeffrey Gray (Employee Benefits).

TRM Equity

( Formed in 2019, TRM Equity is a private equity firm that seeks to invest in special situations where the experience of their team can assist companies in executing their strategies. The firm’s team has been together in a predecessor fund for over 15 years investing with a consistent approach in targeted manufacturing industries, and has a demonstrated track record of outsized returns.

Elyria Foundry

( For more than a century, Elyria has been a leading manufacturer of large gray and ductile iron specialty castings ranging from 50 to 200,000 pounds. Elyria Foundry’s history dates back to 1905, when they began to produce castings for the machine tool, gas engine and other industries. Their Hodge Foundry location began operation in 1876 and built a reputation for quality casting from its Greenville, Pennsylvania location. The two foundries joined to form a single company in 2008, which is today known as Elyria Foundry.

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 and to navigate the challenges that can arise in 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. At The M&A Advisor’s national awards and the ACG M&A Deals and Dealmakers regional awards, our attorneys are consistently involved in deals honored as winners and finalists. For further information, please contact Jordan Schwartz at (616) 831-1719 or Dustin Daniels at (616) 831-1737.