Add-on Acquisition • Manufacturing

Sigma Engineered Solutions Acquires Avalon Precision Metalsmiths

On August 20, 2019, Sigma Engineered Solutions acquired manufacturer Avalon Precision Metalsmiths from Keystone Capital

Acquisition Context
  • This is Sigma Engineered Solutions’ 1st transaction in the Manufacturing sector.
  • This is Sigma Engineered Solutions’ 1st transaction in the United States.
  • This is Sigma Engineered Solutions’ 1st transaction in Ohio.

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M&A Deal Summary

Date August 20, 2019
Target Avalon Precision Metalsmiths
Sector Manufacturing
Buyer(s) Sigma Engineered Solutions
Sellers(s) Keystone Capital
Deal Type Add-on Acquisition

Target Company

Avalon Precision Metalsmiths

Cleveland, Ohio, United States
Avalon Precision Metalsmiths is a full-service turnkey casting platform. These castings are supplied to leading US customers in the aerospace, defense, HVAC, power, agriculture, oil & gas end markets. Avalon Precision Metalsmiths was founded in 1945 and is based in Cleveland, Ohio.
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Buyer Overview 1

Buyer

Sigma Engineered Solutions

Garner, North Carolina, United States

Category Company
Founded 1981
Sector Metals/Mining
DESCRIPTION

Sigma Engineered Solutions is a manufacturer of metal castings, precision machined components and sub-assemblies for blue-chip customers in the electrical products, power transmission, and distribution and general industrial markets. Sigma Engineered Solutions uses proprietary precision die-casting and sand-casting manufacturing technologies to produce customized components with complex shapes and tight tolerances across a broad range of metals and alloys. Sigma Engineered Solutions was founded in 1981 and is based in Garner, North Carolina.


Deal Context for Buyer #
Overall 1 of 2
Sector: Manufacturing 1 of 2
Type: Add-on Acquisition 1 of 2
State: Ohio 1 of 1
Country: United States 1 of 2
Year: 2019 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-23 Tooling Dynamics

York, Pennsylvania, United States

Tooling Dynamics is a provider of high precision metal stamping as well as design and fabrication of stamping dies for the electronic, medical, automotive, aerospace, military, and solar power industries. Tooling Dynamics was founded in 1982 and is based in York, Pennsylvania.

Buy -

Seller Profile 1

SELLER

Keystone Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Keystone Capital is a private equity firm focused on acquiring family businesses, corporate divestitures, industry consolidations, and special situations. Keystone prefers lower middle-market, US-based businesses with EBITDA of $5 to $20 million. Target sectors include specialty manufacturing, business services/outsourcing, food processing and ingredients, publishing, instrumentation, optical components, and healthcare products/services. Keystone will not invest in start-ups, turnarounds, commodities, defense/government contractors, retail stores, or restaurants. Keystone Capital was formed in 1994 and is based in Chicago, Illinois.


Deal Context for Seller #
Overall 16 of 26
Sector: Manufacturing 4 of 4
Type: Add-on Acquisition 8 of 15
State: Ohio 2 of 2
Country: United States 16 of 26
Year: 2019 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-01 KENDELL

Mendota Heights, Minnesota, United States

KENDELL is a value-added distributor of door openings, door hardware, and related access control products for institutional and commercial applications in the built environment. KENDELL was founded in 1981 and is based in Mendota Heights, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-27 Hometown Foods USA

Medley, Florida, United States

Hometown Foods USA is a manufacturer of bagels and cake products sold to in-store bakeries, club stores, and the foodservice channel. Hometown Foods USA product offering includes traditional Mrs. W’s Wonderlicious bundt cakes, New York-style bagels, indulgent crème cakes, crumb bundt cakes, and loaf cakes.

Buy -