WARSAW, Ind., May 13, 2016 /CNW/ -- Speyside Equity in partnership with Beckner Clevy Partners announces the acquisition of Dalton Foundry Company from Neenah Enterprises. The transaction was completed on 5/2/2016 and includes the main casting facility in Warsaw, IN and a machining facility in Stryker, OH.
Since 1914 Dalton Foundry has been a leading manufacturer of Complex Machined Grey Iron Castings for the Industrial, HVAC, Agricultural, Marine and Construction Market. It has annual revenues of $70 Million.
"Dalton has a tremendous legacy and Speyside has a strong track record in the industry. We are excited to partner with management to drive exceptional performance. The current environment for foundries is challenging, but Dalton has the capabilities to manage through this environment and create a sustainable path for the next 100 years," said Managing Director Jeffrey A. Stone.
About Speyside Equity
Formed in 2005, Speyside Equity employs an operationally intensive approach to investing in specialty chemicals, industrials/metal forming and food ingredients businesses. It 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. Speyside prefers situations where there are opportunities to leverage its operating expertise to improve financial performance and create sustainable long-term value.
Since its formation, Speyside has successfully executed numerous platform investments and add-on acquisitions using its own capital. The team made its first investment in Sweet Ovations, a food ingredient company, in 2005 and had its first exit in 2010 when it sold Stahl Specialty Company. This principal-driven investment philosophy and approach will continue in its $130 million institutional fund closed in January 2016, Speyside Equity Fund I LP.
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SOURCE Speyside Equity
For further information: Jeffrey A. Stone, Speyside Private Fund Advisers LLC, Jeffrey.Stone@speysideequity.com, 212-994-0308 x 204, http://speysideequity.com