Speyside Foundry Holdings, a portfolio company of Ann Arbor’s Speyside Equity Fund I LP, has acquired Pennsylvania’s Hazleton Casting Co. and Weatherly Casting and Machine Co. Both transactions were completed on June 12, and details were not disclosed.
Hazleton Casting Co. is a steel foundry specializing in alloy steel casting. Its facility has operated continuously since the early 1900s and has induction furnaces, simulation software, and 3-D printing so customers can cast, machine, assemble, and test projects.
Weatherly Casting and Machine Co., a sister company to Hazleton, is an iron and iron alloy foundry specializing in large castings. It provides machining services and other value-add services such as laboratory and nondestructive testing.
“Hazleton and Weatherly offer a fuller suite of solutions, both alloys and capabilities, for our existing portfolio foundries Sawbrook and Ashland,” says Jeffrey Stone, managing director for Speyside. “As the industry has been consolidating in North America over the past several decades, we strive to provide our customers with high quality, dependable, and sustainable long-term partnerships.”
Speyside Equity was formed in 2005 and employs an operationally intensive approach to investing in specialty chemicals and minerals, metal forming and fabrication, plastics, building products, food ingredients, and other industrial businesses.
Since closing Speyside Equity Fund I LP in 2016, Speyside has closed 18 acquisitions across the U.S., Canada, and western Europe. Its portfolio of companies generates total revenue of more than $1 billion and employs more than 3,000 people.