FOR IMMEDIATE RELEASE
PITTSBURGH, PA. December 6, 2016.
Stonewood Capital Management, Inc., a Pittsburgh-based private equity firm, announced today that its affiliate has acquired SinterMet, LLC, a leading manufacturer of tungsten carbide rolls and other products for rod and bar mills located throughout the world. Stonewood partnered with SinterMet management in the acquisition of the company from Hitachi Metals America, Ltd. SinterMet is located in Kittanning, PA.
J. Kenneth Moritz, President of Stonewood Capital, stated that “SinterMet is a very high quality manufacturing operation with a broad customer base, and we are very excited to have partnered with Paul C. Fleiner, SinterMet’s Chief Executive Officer, and his team. We are eager to assist the company in the execution of its strategies for continued growth.”
Paul Fleiner stated that “it was great to work with Kenn Moritz, Pete Muth, John Tippins, and the group that Stonewood Capital put together for the transaction. They have industry knowledge and bring significant management and financial resources to the table for our company.”
About Stonewood Capital: Stonewood Capital Management, Inc. is a Pittsburgh-based private equity firm seeking investment opportunities primarily with manufacturing, assembly, or distribution companies with sales from $5 to $50 million. Stonewood Capital currently holds eight operating companies in five states generating annual revenues of over $100 million.
Huntington National Bank provided a senior lending facility to support the acquisition, and Stonewood Capital was represented in the transaction by Reed Smith LLP.