M&A Deal Summary

CPP Acquires Allegheny Technologies - Titanium Investment Castings Business

On June 4, 2019, CPP acquired aerospace company Allegheny Technologies - Titanium Investment Castings Business from ATI

Acquisition Highlights
  • This is CPP’s 2nd transaction in the Aerospace sector.
  • This is CPP’s 4th transaction in the United States.
  • This is CPP’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2019-06-04
Target Allegheny Technologies - Titanium Investment Castings Business
Sector Aerospace
Buyer(s) CPP
Sellers(s) ATI
Deal Type Divestiture

Target

Allegheny Technologies - Titanium Investment Castings Business

Pittsburgh, Pennsylvania, United States
Allegheny Technologies, Inc. - Titanium Investment Castings Business produces titanium investment castings that are primarily used by aerospace & defense OEMs in the production of commercial jet airframes and engines. The ATI Cast Products business unit is part of the High-Performance Materials & Components (HPMC) segment.

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Buyer(S) 1

Buyer

CPP

Cleveland, Ohio, United States
Category Company
Founded 1991
Sector Aerospace
DESCRIPTION

CPP is an aerospace casting manufacturer and offers both sand and investment casting capabilities. The company specializes in producing complex, mission-critical components for a variety of leading commercial and military aircraft and regional/business jets, as well as industrial gas turbines. CPP was founded in 1991 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 4 of 4
Sector (Aerospace) 2 of 2
Type (Divestiture) 3 of 3
State (Pennsylvania) 1 of 1
Country (United States) 4 of 4
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-05 Selmet

Albany, Oregon, United States

Selmet, Inc. is a manufacturer of complex titanium investment castings for the aerospace and defense industries. Selmet possesses unique capabilities to process titanium and features a product offering that includes engine, airframe and other aircraft and military components. Selmet was founded in 1983 and is based in Albany, Oregon.

Buy -

Seller(S) 1

SELLER

ATI

Dallas, Texas, United States
Category Company
Founded 1996
Sector Metals/Mining
Employees7,300
Revenue 4.2B USD (2023)
DESCRIPTION

ATI is a diversified specialty materials and components producer. The Company's markets include aerospace and defense, oil and gas/chemical process, electrical energy, medical, automotive, food equipment and appliance, and construction and mining. ATI's products include titanium and titanium alloys, nickel-based alloys and superalloys, engineered forgings and castings, zirconium, hafnium, niobium alloys, grain-oriented electrical steel, and stainless and specialty steels. ATI was incorporated in 1996 and is based in Dallas, Texas.

DEAL STATS #
Overall 5 of 6
Sector (Aerospace) 1 of 1
Type (Divestiture) 4 of 5
State (Pennsylvania) 1 of 1
Country (United States) 5 of 5
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-03 Premier Forge

Portland, Indiana, United States

Premier Forge provides high-value, complex forgings for blue-chip OEMs primarily in the transportation, oil & gas, construction, mining, agricultural, and aerospace, and defense markets. Premier Forge’s capabilities include comprehensive forging processes complemented by in-house design and engineering, material expertise, product machining, and heat-treating services. Premier Forge was founded in 2019 and is based in Portland, Indiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-03 Special Melted Products

Sheffield, United Kingdom

Special Melted Products is a manufacturer of premium, specialty steels and nickel-based Super Alloys used in critical applications in the aerospace, oil & gas and nuclear industries. Special Melted Products is based in Sheffield, United Kingdom.

Sell -
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