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| Client: |
Hodge Foundry |
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| Purchaser: |
Elyria Foundry, a portfolio company of Silverhawk Capital Partners |
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| Situation: |
Commonwealth Capital Group, a private equity group based out of Pittsburgh, Pennsylvania, made the decision to sell its portfolio company, Hodge Foundry, and engaged BGL to manage the sale process. The private equity firm, in conjunction with management, desired an acquirer that would pursue the near term capital projects management desired, thus ensuring long-term future growth for Hodge Foundry’s customers, employees, and suppliers. |
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| Business: |
Founded in 1876 and located in Greenville, Pennsylvania, Hodge Foundry is an international specialty engineering foundry that manufactures high quality complex gray and ductile iron castings, ranging in size from 3,000 to 200,000 pounds. |
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| Client Objective: |
Commonwealth Capital Group felt that they had assisted Hodge Foundry as much as they could and sought a world-class partner that would ensure long-term future growth for its customers, employees, vendors and suppliers. To manage the sale of the company, Commonwealth Capital Group and the management team of Hodge Foundry selected BGL due to its well-established success in representing foundry companies. |
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| Results: |
BGL received strong interest from strategic and financial buyers that valued Hodge Foundry’s market position, growth profile, efficient operations, and employee and management talent, resulting in a highly competitive sale process. Ultimately, Silverhawk Capital Partners, in conjunction with its portfolio company, Elyria Foundry, provided the most compelling proposal both financially and through its complimentary strategic fit with Hodge Foundry. The acquisition of Hodge Foundry will extend the reach of Elyria Foundry’s product lines to key growth markets, most notably in wind power and mining. |
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