M&A Deal Summary

AK Steel Holding Acquires Precision Partners Holding

On August 10, 2017, AK Steel Holding acquired manufacturer Precision Partners Holding from Milestone Partners for 360M USD

Acquisition Highlights
  • This is AK Steel Holding’s 1st transaction in the Manufacturing sector.
  • This is AK Steel Holding’s 2nd largest (disclosed) transaction.
  • This is AK Steel Holding’s 1st transaction in Canada.
  • This is AK Steel Holding’s 1st transaction in Ontario.

M&A Deal Summary

Date 2017-08-10
Target Precision Partners Holding
Sector Manufacturing
Buyer(s) AK Steel Holding
Sellers(s) Milestone Partners
Deal Type Add-on Acquisition
Deal Value 360M USD

Target

Precision Partners Holding

Windsor, Ontario, Canada
website
Precision Partners Holding Co. is a manufacturer of engineered automotive tooling and hot & cold stamped solutions serving global OEMs and Tier 1 customers. Complexity and the specialized nature of product and service capabilities position Precision Partners Holding Company as a critical supply chain partner and one-stop solution provider for the tooling and stamping industry.

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Buyer(S) 1

Buyer

AK Steel Holding

West Chester, Ohio, United States

website


Category Company
Founded 1993
Sector Metals/Mining
Employees9,500
Revenue 6.8B USD (2018)
DESCRIPTION
Entrance to AK Steel's corporate headquarters in West Chester, Ohio.
Entrance to AK Steel's corporate headquarters in West Chester, Ohio.

AK Steel Holding Corp. is a producer of flat-rolled carbon, stainless and electrical steel products for automotive, appliance, construction and manufacturing markets, as well as tubular steel products. AK Steel Holding was founded in 1993 and is based in West Chester, Ohio.


DEAL STATS #
Overall 3 of 3
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-21 Severstal Dearborn

Dearborn, Michigan, United States

Severstal Dearborn produces high-quality, flat-rolled steels primarily for the automotive, construction and appliance markets.

Buy $700M

Seller(S) 1

SELLER

Milestone Partners

Villanova, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 650M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Milestone Partners is a lower middle-market private equity firm specializing in investments in manufacturing, distribution, and service companies. Milestone looks for businesses valued up to $250 million with EBITDA of $5 to $50 million. The Firm's target revenue size is $10 to $250 million. Milestone prefers companies with growth potential and proven management. The Firm will not invest in businesses in high cyclical industries, with low barriers to entry, or have a high reliance on technology. Milestone Partners was formed in 1995 and is based in Villanova, Pennsylvania.


DEAL STATS #
Overall 18 of 28
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 7 of 11
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2017) 4 of 5
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-27 Occasion Brands

Middletown, Delaware, United States

Occasion Brands is an online technology-enabled, data-driven analytics and procurement platform specializing in providing women’s formal wear and related accessories. Occasion Brands is based in Middletown, Delaware.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-29 eCommission

Austin, Texas, United States

eCommission is a provider of commission advance services to real estate professionals in the United States. eCommission was founded in 2001 and is based in Austin, Texas.

Sell -