Vorteq Expands in Coated Products
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Vorteq Expands in Coated Products

Vorteq Coil Finishers, a portfolio company of Peninsula Pacific since 2013, has acquired the assets of Wheeling Services & Supply, a producer of pre-painted aluminum products used in the residential building and construction market.

Vorteq Coil Finishers (formerly Wismarq Industries) is a provider of coil coated steel and aluminum used in the building products, transportation, automotive, signage, energy and lighting end markets. The company’s services include wide and narrow coil coating, printing, slitting and embossing. Vorteq has five facilities located near Milwaukee, Chicago, Pittsburgh, Philadelphia, and Memphis and is headquartered in Oconomowoc, WI (www.vorteqcoil.com).

The Wheeling acquisition will increase Vorteq’s production capacity and ability to service its residential building products customers across the Midwest. The company is now the third largest independent coil coater in the nation with eight continuous coil coating lines. The acquired operations of Wheeling Services – based in Woodstock, IL – have been renamed Vorteq Woodstock.

“The addition of the Wheeling assets to the Vorteq portfolio is a logical follow-up to our highly successful October 2016 acquisition of Allentown, PA-based Prior Coated Metals,” said Jim Dockey, Vorteq’s Chief Executive Officer. “The transaction will enable Vorteq to better serve its gutter coil and residential building product customers.”

“We believe that the Wheeling acquisition is a highly compelling and attractive acquisition for Vorteq as it continues to successfully implement its ambitious strategic plan,” said Matt Homme, Managing Director of Peninsula Pacific. “Peninsula Pacific will continue to support Jim and his excellent team as the company looks to further deepen its processing capabilities and expand geographically.”

Peninsula Pacific makes control and non-control investments of equity or debt in middle-market businesses that have annual revenue of up to $750 million and enterprise value up to $500 million. The firm has a generalist approach and targets various industries, including those which have temporarily fallen out of favor. Sectors of particular interest include automotive, aerospace & defense, building products, business services, chemicals, consumer goods, distribution, energy & power, food & beverage, healthcare, industrial and manufacturing, metals & mining, paper & packaging, and transportation & logistics.  The firm is based in Los Angeles (www.peninsulapacific.com).

© 2018 Private Equity Professional | May 3, 2018

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