M&A Deal Summary

Keel Acquires Pegasus Steel

On January 25, 2024, Keel acquired metals/mining company Pegasus Steel from Arlington Capital Partners

Acquisition Highlights
  • This is Keel’s 2nd transaction in the Metals/Mining sector.
  • This is Keel’s 3rd transaction in the United States.
  • This is Keel’s 2nd transaction in South Carolina.

M&A Deal Summary
Date 2024-01-25
Target Pegasus Steel
Sector Metals/Mining
Buyer(s) Keel
Sellers(s) Arlington Capital Partners
Deal Type Merger

Target

Pegasus Steel

Goose Creek, South Carolina, United States
Pegasus Steel is a provider of complex fabricated steel structures used for the construction of submarines, aircraft carriers, and other naval and industrial systems. The Company specializes in cutting, forming, machining, and welding large-scale, complex fabrications. Pegasus is headquartered in Goose Creek, South Carolina.

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Buyer(S) 1

Buyer

Keel

Ladson, South Carolina, United States
Category Company
Sector Manufacturing
DESCRIPTION

Keel is a manufacturer of complex structures for the highest priority programs within the Navy, Army, and Air Force. Keel is based in Ladson, South Carolina.

DEAL STATS #
Overall 3 of 3
Sector (Metals/Mining) 2 of 2
Type (Merger) 3 of 3
State (South Carolina) 2 of 2
Country (United States) 3 of 3
Year (2024) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-25 Metal Trades

Yonges Island, South Carolina, United States

Metal Trades offers an in-house steel processing center, multiple indoor fabrication buildings with overhead crane systems and heavy lift equipment, dedicated indoor blast and painting facilities, and an onsite machine shop. Metal Trades offers highly competitive labor rates and extensive solutions for customer’s needs. Metal Trades was founded in 1962 and is based in Yonges Island, South Carolina.

Buy -

Seller(S) 1

SELLER

Arlington Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 7.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Arlington Capital Partners is a middle-market private equity firm focused on buyouts and recapitalizations in targeted growth industries. Arlington targets US based companies valued between $50 and $500 million with strong potential for organic growth and possible consolidation opportunities. Sectors of interest include business services and outsourcing, aerospace/defense, federal and commercial IT, media, education and training, healthcare services, and manufacturing. Arlington Capital was formed in 1999 and is headquartered in Washington DC.

DEAL STATS #
Overall 36 of 38
Sector (Metals/Mining) 1 of 1
Type (Merger) 7 of 7
State (South Carolina) 1 of 1
Country (United States) 34 of 36
Year (2024) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-25 Keel

Ladson, South Carolina, United States

Keel is a manufacturer of complex structures for the highest priority programs within the Navy, Army, and Air Force. Keel is based in Ladson, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-30 Afton Scientific

Charlottesville, Virginia, United States

Afton Scientific is a contract, development, and manufacturing organization that specializes in small-batch filling of injectables from clinical trials to approved commercial drugs. Afton Scientific is based in Charlottesville, Virginia.

Buy -
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