Lansing-based metal processor Premier Thermal Solutions (PTS) has been sold to an affiliate of Dutch manufacturer Aalberts N.V. The transaction is expected to close before year-end; financial terms were not disclosed.
PTS has been owned since 2017 by privately held asset manager Z Capital Partners of New York.
Since opening its first plant in Lansing in 1978, PTS has expanded its footprint to 10 plants across the Midwest. It provides provides commercial metal processing services to a variety of industries, including aerospace and defense, automotive, heavy truck, energy, heavy equipment, and other industrial end-markets.
“When we acquired PTS…, we saw an opportunity to work with a company that could benefit enormously from our deep operational expertise, resources, and technical capabilities,” says James Zenni, founder, president, and CEO of Z Capital Partners. “We were also confident … we could achieve our ambitious growth goals and position PTS as a high-performing standalone company.”
Steve Wyatt, president and CEO of PTS, says, “The extensive support from the ZCG team to execute on a shared long-term vision for PTS has generated exceptional results. Our business is now positioned to grow, scale, and capitalize on new market opportunities with Aalberts, and we look forward to building on this success and identifying more unique and efficient ways to provide our customers with the critical services they rely on us for.”
Premier Thermal Solutions has more than 800,000 tons of installed heat-treating capacity including annealing, ferritic nitrocarburizing (FNC), normalizing, and quench and temper processing for various industries.
It also offers a variety of other metal processing services including phosphate coating, shot blast cleaning, cutting, and testing. PTS is the only domestic provider of FNC bars and tubes in the 13- to 24-foot range.
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