M&A Deal Summary

Aurora Resurgence Acquires New Star Metals

On May 18, 2010, distressed investor Aurora Resurgence acquired metals/mining company New Star Metals from Severstal Dearborn

Acquisition Highlights
  • This is Aurora Resurgence’s 2nd transaction in the Metals/Mining sector.
  • This is Aurora Resurgence’s 5th transaction in the United States.
  • This is Aurora Resurgence’s 3rd transaction in Illinois.
Investment Fate
  • New Star Metals was sold to a consortium of financial buyers in 2012.

M&A Deal Summary

Date 2010-05-18
Target New Star Metals
Sector Metals/Mining
Buyer(s) Aurora Resurgence
Sellers(s) Severstal Dearborn
Deal Type Divestiture

Target

New Star Metals

Burr Ridge, Illinois, United States
New Star Metals, Inc. is engaged in the processing and distribution of value-added steel products with about 400,000 tons of current processing capacity serving customers across a variety of end markets in the Midwest.

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Buyer(S) 1

Buyer

Aurora Resurgence

Investor Investor


Category Distressed Investor
Founded 1991
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Aurora Resurgence is a private equity firm focused on complex or special situation investments. The Firm is associated with private equity group Aurora Capital Group and looks to invest $25 to $100 million of equity or debt capital to support a variety of investment situations including buyouts, carve-outs, recapitalizations, 363 sales, secondary debt purchases, DIP financings, and restructurings. Aurora Resurgence is based in Los Angeles, California.


DEAL STATS #
Overall 5 of 12
Sector: Metals/Mining M&A 2 of 2
Type: Divestiture M&A Deals 2 of 5
State: Illinois M&A 3 of 3
Country: United States M&A 5 of 10
Year: 2010 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Miami Valley Steel Service

Piqua, Ohio, United States

Miami Valley Steel Service, Inc. provides steel processing services and engages in the distribution of low carbon flat roll steel products. Miami Valley provides steel coil, sheets, precision blanks, edged conditioned coil, oscillate coil and bar stock.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-11 QSR

Pepper Pike, Ohio, United States

QSR is a manufacturer of tight-tolerance rubber and silicone molded components, plastic based sub-assemblies, and packaged products for companies worldwide. QSR was founded in 1966 and is based in Pepper Pike, Ohio.

Buy -

Seller(S) 1

SELLER

Severstal Dearborn

Dearborn, Michigan, United States

Category Company
Founded 2004
Sector Metals/Mining
Employees1,400
DESCRIPTION

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


DEAL STATS #
Overall 1 of 1
Sector: Metals/Mining M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Illinois M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-01 Esmark Steel Service Group

Chicago Heights, Illinois, United States

Esmark Steel Service Group, Inc engages in the processing and distribution of steel

Buy -