New York PE firm V&A Capital has partnered with the management team of SinterMet LLC to acquire the company, which is headquartered near Pittsburgh. The firm plans to support SinterMet’s growth through increased product offerings, entering new end-markets and searching for complementary add-on acquisitions.
SinterMet engineers and manufactures high-performance tungsten carbide, powder metallurgy tool steel and other advanced material rolls for use in steel rod and bar mills. The Kittanning, Pennsylvania, company serves customers across the world who rely on its products for critical rolling applications.
“V&A Capital has deep experience in the metals space and will leverage its expertise and network of operating executives to achieve its growth goals,” V&A Managing Partner Nicolò Vergani said, in a statement. “In addition, SinterMet fits closely with V&A’s other portfolio investments, offering the opportunity for additional growth through operating synergies.”
SinterMet CEO Paul Fleiner stated that “V&A Capital was great to work with throughout the sale process. Their attention to detail, creative approach to issues, ability to move rapidly to close, expertise in metals manufacturing and portfolio of complementary businesses were key to selecting them as a partner as well as for the future success of SinterMet and its employees.”
S&T Bank provided the financing to support the acquisition and Loeb & Loeb LLP acted as legal counsel to V&A Capital.
V&A seeks majority ownership in profitable, well-run companies in North America and Europe with an EBITDA ranging from $1 million to $10 million. V&A invests primarily in the manufacturing and distribution industries but also seeks to acquire companies in the business services, consumer goods, packaging and transportation sectors.