M&A Deal Summary

Charter Manufacturing Company Acquires Aarrowcast

On November 30, 2021, Charter Manufacturing Company acquired metals/mining company Aarrowcast from Yukon Partners and Industrial Opportunity Partners

Acquisition Highlights
  • This is Charter Manufacturing Company’s 1st transaction in the Metals/Mining sector.
  • This is Charter Manufacturing Company’s 2nd transaction in the United States.
  • This is Charter Manufacturing Company’s 1st transaction in Wisconsin.

M&A Deal Summary
Date 2021-11-30
Target Aarrowcast
Sector Metals/Mining
Buyer(s) Charter Manufacturing Company
Sellers(s) Yukon Partners
Industrial Opportunity Partners
Deal Type Add-on Acquisition

Target

Aarrowcast

Shawano, Wisconsin, United States
Aarrowcast is a provider of ductile, gray, and austempered ductile iron castings that specializes in large, complex castings utilizing sophisticated metallurgy. The Company’s products are sold to global original equipment manufacturers in the agriculture, off-highway heavy truck, military, and construction industries. Aarrowcast was formed in 1978 and is based in Shawano, Wisconsin.

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Buyer(S) 1

Buyer

Charter Manufacturing Company

Mequon, Wisconsin, United States
Category Company
Founded 1936
Sector Metals/Mining
DESCRIPTION

Charter Manufacturing Company, Inc. manufactures steel and steel components.

DEAL STATS #
Overall 2 of 3
Sector (Metals/Mining) 1 of 2
Type (Add-on Acquisition) 2 of 3
State (Wisconsin) 1 of 1
Country (United States) 2 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-13 Dura-Bar Metal Services

Woodstock, Illinois, United States

Dura-Bar Metal Services is a distributor of Dura-Bar products and bronze alloys.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-30 Niles Iron

Niles, Ohio, United States

Niles Iron specializes in the recycling of ferrous and non-ferrous metals and wastepaper. Niles Iron was founded in 1917 and is based in Niles, Ohio.

Buy -

Seller(S) 2

SELLER

Yukon Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2008
PE ASSETS 640M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Yukon Partners is a mezzanine finance firm that works with private equity sponsors to fund a variety of investment situations. Yukon looks to invest $10 to $40 million to support buyouts, recapitalizations, take privates, and refinancings. Sectors of interest include automotive, building products, business services, consumer products, food/beverages, healthcare products/services, industrial manufacturing, niche manufacturing, and transportation/logistics. Prospective companies generally have revenues of $30 to $500 million and are profitable with EBITDA of $5 to $50 million. Yukon Partners was formed in 2008 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 22 of 28
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 6 of 7
State (Wisconsin) 1 of 2
Country (United States) 21 of 27
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-10 Bridgeway

Moon Township, Pennsylvania, United States

Bridgeway is an asset-light transportation and logistics company that transports or arranges transport of heavy and over-dimensional freight for large and high-growth end markets serving the energy, infrastructure, and industrial sectors. Bridgeway was founded in 1988 and is based in Moon Township, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Black Diamond Networks

Andover, Massachusetts, United States

Black Diamond Networks provides highly-qualified contract professionals to companies in the life sciences, engineering, and information technology sectors. Industries served include pharmaceutical, medical devices, biotechnology, aerospace, automotive, avionics, electronics, industrial equipment, military/defense, networking and communications, semiconductor, and telecommunications. Black Diamond Networks was founded in 1999 and is based in Andover, Massachusetts.

Buy -
SELLER

Industrial Opportunity Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Industrial Opportunity Partners is a private equity firm focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. IOP looks to invest $15 to $100 million in companies with revenues between $50 and $500 million with an EBITDA of $5 to $50 million. Sectors of interest include building products, electronics, foundry, and casting products, precision machining, stamped and fabricated products, automotive components and steel/metal processing. IOP has a particular investment focus on enhancing the operations and optimizing the cost structures of businesses. Industrial Opportunity Partners was formed in 2005 and is based in Evanston, Illinois.

DEAL STATS #
Overall 20 of 22
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 12 of 14
State (Wisconsin) 4 of 5
Country (United States) 18 of 20
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-17 Monroe Truck Equipment

Monroe, Wisconsin, United States

Monroe Truck Equipment specializes in the design, manufacture, distribution, and installation/upfitting of specialized truck equipment for the municipal and commercial markets. Monroe Truck Equipment was founded in 1986 and is based in Monroe, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 Applegate Greenfiber

Charlotte, North Carolina, United States

Applegate Greenfiber is a manufacturer, marketer, and distributor of cellulose insulation for the residential remodeling and new-home construction markets. Applegate was founded in 1978 and is headquartered in Charlotte, North Carolina.

Buy -
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