Montage Acquires METALfx

Montage Partners has acquired Advanced Manufacturing and Development (DBA METALfx) from Avista Corporation. METALfx’s existing management team will continue to lead the company in partnership with Montage.

METALfx is a provider of sheet metal fabrications, enclosures, assemblies, and wood composite components across a range of industries, including aerospace, food service, industrial, medical, semiconductor, test and measurement, and transportation. The company specializes in parts that are complex and subject to high precision and tight tolerances.

In addition to its manufacturing capabilities which include CNC machining, laser cutting, welding, assembly, powder coating, silkscreen, wet paint, and plating, the company also provides prototyping and engineering support services. METALfx, founded in 1976 and acquired in 1995 by Avista, has a 125,000 sq. ft. facility in the northern California city of Willits (www.metalfx.com).

“Today marks the beginning of an exciting time for METALfx, and we are delighted to be working with Montage Partners to reach our next phase of growth as an independent company,” said Henry Moss, president and a shareholder of METALfx. “With Montage Partners’ support and guidance, we look forward to delivering more value to our customers through enhanced capabilities and engineering-driven solutions.” Gordon Short, who has served as President of METALfx for the past 19 years, will remain a shareholder in the company and will be a member of its board of directors.

Montage Partners invests in companies in the Western US with EBITDA between $1 million and $5 million. The Scottsdale, AZ-based firm was founded in 2004 and is led by managing partners Jordan Tate and Rob Wolfman (www.montagepartners.com).

“METALfx is a value-add, long-term partner to some of the most innovative companies across the US,” said Mr. Wolfman. “We’re thrilled to be partnering with Henry Moss, Gordon Short, and the long-standing management team at METALfx, and to support the company as it makes additional investments in people, technology, and equipment to better serve its customers. We realized early in our relationship with METALfx that the company is hyper-focused on exceeding customer expectations through its ‘engineering-first’ approach and focus on people. These values align well with our cultural ethos and it soon became clear that our partnership would be a strong fit.”

Avista Corporation (NYSE: ASA), the seller of METALfx, is a Spokane, WA-based energy company that generates and transmits electricity and distributes natural gas to residential, commercial, and industrial customers (www.myavista.com).

Seattle, WA-based Meridian Capital (www.meridianllc.com) was the financial advisor to METALfx and Arlington, VA-based Asenti Diligence Partners (www.asentipartners.com) provided financial due diligence services to Montage Partners.

St. Louis-based Enterprise Bank & Trust (www.enterprisebank.com) and St. Louis-based Eagle Private Capital (www.eagleprivatecapital.com) provided debt financing to support the transaction.

© 2019 Private Equity Professional | April 22, 2019

Print Friendly, PDF & Email

Related Articles

H.I.G. and AEA Merge Portfolio Companies CDI Technologies, a portfolio company of H.I.G. Growth Partners, has merged with Troxell Communications, a portfolio company of AEA Investors. H.I.G. ...
EN Engineering Switches Sponsors Kohlberg & Company has agreed to acquire EN Engineering, a utility services firm, from General Atlantic. General Atlantic acquired a majority e...
Huron Adds to Albireo Energy Albireo Energy, a portfolio company of Huron Capital, has acquired Alabama Controls, a provider of energy management services. Alabama Controls is ...
Arcline Carves Engine Division from Baker Hughes Arcline Investment Management has signed an agreement to acquire the Reciprocating Compression division of Baker Hughes, a GE company (NYSE: BHGE). ...
Arsenal Buys Closed-Loop Plastic Company Arsenal Capital Partners has agreed to acquire a controlling interest in Revolution, a provider of sustainable, closed-loop plastic products serving t...
Mill Point Quickly Building Foam Packager Huntington Solutions, a portfolio company of Mill Point Capital, has acquired Texas Foam. Texas Foam is a manufacturer of extended-duration shipper...