CHICAGO, October 16, 2019 – Mesirow Financial acted as the exclusive financial advisor to Keystone Capital, Inc. (“Keystone”) on the sale of its portfolio company Avalon Precision Casting (“Avalon”) to Sigma Electric Manufacturing Corporation (“Sigma”), a portfolio company of Argand Partners.
Avalon is a full-service investment casting platform, supplying ferrous and non-ferrous metal castings to customers in the aerospace, defense, HVAC, power, agriculture, and oil & gas markets. The combination of Avalon's investment castings capabilities and Sigma's global, market-leading casting and precision machining capabilities brings significant product sourcing, supply chain management, and scale opportunities to each company's customer base.
David Greer, managing director at Keystone Capital, commented on the transaction, “We are pleased to complete this transaction with Sigma and to have the opportunity to work with Mesirow Financial. Mesirow’s team prepared and guided our management team, provided great counsel throughout the process and delivered a successful outcome. We would welcome the opportunity to work with them again.”
Adam Oakley, managing director of Mesirow Financial’s Investment Banking group, said, “We were honored to represent Keystone and Avalon in this process. We believe the strategic combination with Sigma will enable Avalon to continue delivering exceptional service and quality products to its customers.”
The transaction represents another successful assignment completed by Mesirow Financial's Investment Banking group and highlights the firm’s expertise within the Aerospace and Defense and Industrial sectors. With extensive sector-specific expertise and deep long-standing relationships, Mesirow Financial’s team has a proven track record of completing highly tailored and successful transactions on behalf of their clients.
About Keystone Capital, Inc
Keystone Capital, Inc. is a private investment firm based in Chicago, Illinois. Formed in 1994, its mission is to acquire and build a portfolio of exceptionally high-quality, mid-sized businesses that are leaders in their niche markets. Keystone is differentiated by its investment of personal as opposed to third-party capital, which results in investment horizon flexibility and an ability to enter into true long-term operating partnerships with the professional management teams of its companies.
About Sigma Electric Manufacturing Corporation
Headquartered in Garner, North Carolina, Sigma Electric Manufacturing Corporation, a portfolio company of Argand Partners, is a global manufacturer of precision machined castings and components. Sigma has twelve world class manufacturing facilities in India & Mexico and a Global Supply Chain delivery center in Garner, NC. Sigma supplies multi-national corporations across the world in the electrical, lighting, home appliances, telecom, industrial and process instrumentation markets. Sigma offers customers a wide range of services including engineering and design, secondary finishing, assembly, packaging and global supply chain management. Sigma's engineering expertise, lean manufacturing practices, innovative products, and superior customer service makes it the preferred partner of choice for many of the world's leading brands.
About Mesirow Financial
Mesirow Financial is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, we are committed to helping our institutional, corporate and individual clients achieve their objectives. Our professionals are inspired by an entrepreneurial desire to develop tailored solutions designed to deliver measurable results. To learn more, please visit mesirow.com.