LongueVue Closes 10th Fund III Platform
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LongueVue Closes 10th Fund III Platform

LongueVue's $252 million third fund closed in March 2017

Associated MetalCast manufactures complex metal components used in water infrastructure, vertical transportation, agriculture, and automotive services applications

SOURCE: Associated MetalCast

LongueVue Capital (LVC) has acquired Associated MetalCast, an Alabama-based maker of metal components.

Associated MetalCast (AM) is a tier-one manufacturer of complex metal components used in water infrastructure, vertical transportation, agriculture, and automotive services applications. AM’s capabilities include product development, sourcing, casting, machining, heat-treating, coating, finishing, assembly, inventory management, and distribution. AM was founded in 1988 by CEO Ron Douglas and operates a 100,000 sq. ft. facility located 60 miles east of Birmingham in Oxford, Alabama.

“The LVC team took the time to understand what makes Associated MetalCast unique, and we are confident that this partnership will be a win for all our stakeholders,” said Mr. Douglas. “LVC has a proven track record, and their experience, partnership approach, shared vision, and cultural alignment will be instrumental as we grow the business and continue to provide best-in-class service to our valued customer base.”

“Partnering with the Associated MetalCast team is an honor for us at LVC,” said Ray Jeandron, a partner at LVC. “The company’s global foundry network and development capabilities, deep knowledge of casting and machining processes, and leading just-in-time delivery and inventory management services together produce a unique value proposition that enables Associated MetalCast to service leading OEMs in each of its industry verticals. The company’s exponential growth over the past several years is a testament to the tremendous culture and business that Ron and his team have built to date.”

“It is a true privilege that Ron and the team at Associated MetalCast chose LVC to be the company’s partner for its next phase of growth,” said Rick Rees, a co-founder and managing partner at LVC. “We are incredibly excited to welcome Associated MetalCast to the LongueVue Capital family as LVC III’s tenth platform investment.”

LongueVue makes equity and debt investments of $10 million to $50 million in companies that have over $3 million of EBITDA and up to $150 million of annual revenue. Sectors of interest include specialty manufacturing, transportation and logistics, healthcare, business and industrial services, and food and beverage. LongueVue closed LongueVue Capital Partners III LP in March 2017 at its hard cap of $252 million. The firm was founded in 2001 and is based in New Orleans with an additional office in Park City, Utah.

Warren Averett, a privately-owned certified public accounting firm headquartered in Birmingham, Alabama, provided accounting advisory services to Associated MetalCast on this transaction.

© 2021 Private Equity Professional | October 29, 2021

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