News & Events


Acquisition of SinterMet, LLC

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.

Posted on

Purchase of Superior Composites Co., LLC

PITTSBURGH, PA.  Stonewood Capital Management, Inc. is pleased to announce the purchase of the composites business of Superior Fibers, LLC by Stonewood’s newly formed affiliate Superior Composites Co., LLC.

Superior Composites, headquartered in Vanceburg, KY, is a worldwide leader in the manufacture of fiberglass composite mats and veils used in construction, automotive, electrical, boat building and other applications.

Peter Muth, Senior Vice President of Stonewood Capital, indicated that “Superior Composites adds significant value to its customers and is a go-to supplier in the markets that it serves.  We believe that Superior Composites enhances Stonewood’s position in composites manufacturing by offering important synergies with our existing investment in Huntingdon Fiberglass Products, and we expect that the customers of both companies will see benefits from the acquisition.”

First National Bank of Pennsylvania provided the senior financing for the transaction, and ReedSmith LLC advised Stonewood on the acquisition.

Posted on

Acquisition of PCN Network, Inc.

PITTSBURGH, PA.  May 31, 2014.  Stonewood Capital Management, Inc., a Pittsburgh-based private equity group, is pleased to announce that its affiliate has purchased the assets of PCN Network, Inc. (“PCN”).  PCN is headquartered in Pittsburgh and provides services to lenders, title insurance underwriters and title agents in connection with real estate mortgage transactions.  PCN’s senior management has partnered with Stonewood in the acquisition and will continue to lead the company in the growth of its business and the pursuit of new product lines.  PCN’s previous shareholders will also continue to hold a minority stake in the business.

Stonewood was supported in the acquisition by First Niagara National Bank, Pittsburgh, PA, the senior lender to the transaction, and Patriot Capital of Baltimore, MD, which provided subordinated debt and participated in the equity investment.  Stonewood was assisted in the transaction by Reed Smith LLP.

For more about Stonewood Capital, please see www.stonewoodcapital.com.

Posted on

Huntingdon Fiberglass announces increased work force by year’s end

It’s been close to five months since the AGY Huntingdon plant was recently sold to Huntingdon Fiberglass products and in that time the new company was able to make a major announcement about creating jobs.

Posted on

Purchase of C-K Composites Co., LLC.

Stonewood Capital Management, Inc., through its investment affiliate and SBC Equity Partners, LP, has partnered with company management to buy the assets of C-K Composites, Inc. of Mount Pleasant, PA. The new company name is C-K Composites Co., LLC.

C-K Composites is a recognized leader in the manufacture of composites including, fiberglass, epoxy and wood insulation products for the power, natural gas transmission, medical device and defense industries. Allan Bartek, P.E., with over 38 years’ experience in the composites and electric power industries, is President of C-K Composites and participated in the buy-out . “Our company is positioned in areas ripe for growth, and we are very excited about the future,” said Bartek. “With Stonewood Capital behind us, we will have the resources necessary to take C-K Composites to the next level.”

First National Bank of Pennsylvania provided senior financing in support of the acquisition.

C-K Composites, Inc. was formed in 1985 from the buy-out of the assets of the former Permali, Inc. and has 60 employees in its Mount Pleasant facility.

About Stonewood Capital Management, Inc.

Stonewood Capital is a Pittsburgh-based private equity firm seeking investment opportunities primarily with manufacturing, assembly, or distribution companies with sales from $5 to $60 million. Stonewood Capital’s executives have experience with many types of transactions, but specialize in making acquisitions in partnership with experienced management teams. The managers supply the business skills necessary to move the company forward, and Stonewood Capital adds value by helping craft strategies for growth and margin improvement as well as assisting management teams with legal and financial issues that arise in the business.

Kenn Moritz, President of Stonewood Capital, and Peter Muth, Vice President, led the Stonewood Capital investment in CK Composites Co., LLC.

 

Posted on

Rita’s Water Ice sold by McKnight Capital Partners

Pittsburgh-based McKnight Capital Partners has sold its majority stake in Rita’s Water Ice Franchise Co. to New York private equity firm Falconhead Capital LLC. Financial terms of the deal weren’t announced.

Read more at the Pittsburgh Business Times.

Posted on

Tank Services Company & Midwest Tank Services Have Been Acquired By A Private Equity Group

Stonewood Capital has acquired Tank Services Co. and Midwest Tank Services, Inc. Terms of the transaction were not disclosed.

Read more.

Posted on

Birchmere Executive Joins Stonewood Capital Management, Inc.

Pittsburgh, PA — March 7, 2006 – Peter J. Muth, a seasoned principal of Birchmere Capital Limited Partnership and Birchmere Investments Inc., has joined Stonewood Capital Management, Inc. as Vice President.

Mr. Muth has been a private equity investor for eight years and has experience in a full range of investment opportunities, including early stage ventures and traditional LBOs.

Recently, Stonewood and Birchmere co-invested in the acquisition of Rita’s Ice., a fast-growing franchisor of frozen desserts. “Investing in the Rita’s deal with Stonewood was a wonderful opportunity to get to know the Stonewood team in a real-time deal environment,” said Muth. “It set the stage for discussions about how we could continue to work together.”

Kenn Moritz, Stonewood Executive Vice President, describes the new hire and the strengthened relationship with Birchmere. “We were looking to expand our Stonewood operation and at the same time we understood that Birchmere did not anticipate that it would make additional platform investments. Pete’s joining Stonewood creates a great opportunity for us to accelerate our pace of activities and enlarge our base of portfolio companies. And as we move forward, we will be able tap into the extensive networks and experiences of Jack Isherwood and Dick Stover at Birchmere. We have plans to raise a co-investment fund, and with the expertise and experience among the principals of Stonewood and Birchmere we are able to offer investors an opportunity to participate in a solid and tested approach to private equity. It is an optimal alliance for us.”

Prior to his experience at Birchmere, Muth spent seven years with PNC Bank, holding positions in corporate lending and credit.

Muth’s new role with Stonewood will be concurrent with his continuing activities at Birchmere. Currently Muth serves as current director for five Birchmere portfolio companies: Miller Centrifugal Casting, Pennsylvania Brewing Company, BBR Services LP, Vertical Claims management LLC, and Rita’s Water Ice. In addition, Muth serves on the Education Foundation Board of the Community College of Allegheny County.

Muth earned a B.S. in business from the University of Dayton and an M.B.A. from the University of Pittsburgh’s Katz Graduate School of Business.

Stonewood Capital Management, Inc. is a private Pittsburgh-based investment firm seeking opportunities with companies with sales of $5 to $50 million. Stonewood was established in 1993 as a vehicle for private equity investments on behalf of the Tippins family of Pittsburgh. In addition to Kenn Moritz and Pete Muth, the Stonewood management team includes George Knapp (President) and John Tippins (Managing Director). For further information on the Stonewood group, please see www.stonewoodcapital.com.

Posted on

Local investors take over Rita’s Italian Ice

On any fine summer evening in Squirrel Hill, you can find a crowd of people on Forbes Avenue near Shady, happily leaving or calmly waiting in line at Rita’s Italian Ice.

Posted on

Insider’s View – John Tippins and Kenn Moritz, Stonewood Capital

Pittsburgh Ventures, Published by Innovation Works, April, 2005

Posted on