Crest Rock Partners has acquired sister companies Midwest Alloys & Technology and Midalloy Specialty Materials (together Midalloy).
Midalloy operates through two segments, Midalloy Performance Welding Products (MID) and Midalloy Specialty Materials (MSM).
MID was founded in 1985 and provides welding consumables and bar and wire rod products that are used in a wide array of industries including aerospace, defense, and petrochemical sectors. MSM was founded in 2006 and provides nickel alloy and specialty stainless products – in round bar, hex bar, wire rod, and flat-rolled formats – to manufacturers nationwide. Midalloy operates two facilities in Saint Louis, Missouri, and Houston, Texas.
The founders of Midalloy – Dennis Nelson and Brad Brunk, along with MSM President Cliff Bailye – invested alongside Crest Rock.
“Midalloy’s breadth of products and employee expertise provide exceptional value to its customers,” said Steve Johnson, a co-founder and Partner at Crest Rock. “The company’s metallurgic and welding engineering knowledge, long-standing relationships with steel mills, and partnership approach have created many satisfied customers who have remained loyal to the company, in many cases for decades. The specialty alloys environment is becoming increasingly challenging to navigate with supply chain issues, geopolitical tensions, and pricing fluctuations.”
“We are thrilled to partner with Crest Rock on the next phase of our company’s journey,” said Mr. Nelson. “Brad, Cliff, and I were looking for a partner who brought extensive operating expertise and knowledge, in addition to capital, to support our strategic plan and provide fresh ideas to lead Midalloy to new heights. Crest Rock is exactly the partner we envisioned.”
Crest Rock makes control investments in software, technology, IT services, tech-enabled business services, and industrial services and manufacturing companies that have enterprise values from $15 million to $150 million. The firm was founded in 2019 and is based in Denver.
“Midalloy is well positioned to address its customers’ needs with its differentiated expertise and specialized offerings,” concluded Mr. Johnson. “We are excited to partner with Midalloy as they continue to serve as a value-added supplier to distributors and manufacturers and help them address their specialty alloy needs.”
© 2023 Private Equity Professional | September 26, 2023
Altamont Capital Partners has sold Douglas Products to Brightstar Capital Partners.
New York City-based 
“We are impressed by Douglas’ strong financial track record and its position as an environmentally responsible market leader providing critical and differentiated solutions to its agricultural and pest control customers,” said Mr. Weinberg. “We look forward to working closely with Wes and his team as they execute on both organic and acquisition growth strategies.”
SkyKnight Capital has held a final closing of SkyKnight Capital Fund IV LP with $1 billion in hard cap capital commitments.
“We are honored by the responsibility entrusted to us by our investors, and we are excited to continue to execute our differentiated private equity strategy,” said Ms. Hunt. “Fund IV was raised with over 100% net retention from existing limited partners, and we also welcomed over twenty new limited partners, representing America’s leading endowments, corporate and state pensions, and private market institutional investors.”
In February 2023, SkyKnight formed 
“We are grateful for the support of our like-minded limited partners and pleased to announce the closing of Fund IV, which will allow us to continue to execute our investment strategy,” said Mr. Ebbel. “Fund IV will aim to invest in approximately ten platform companies where SkyKnight can bring our collaborative, entrepreneurial approach to building industry-defining businesses alongside aligned management and owners.”
Blue Wolf Capital Partners has added Stephen Madsen to its team as a managing director and the leader of the firm’s business development effort.
“Blue Wolf has an unmatched level of creativity and intelligence behind its investment capabilities,” said Mr. Madsen. “Very few firms are capable of completing transactions in as wide of a range as Blue Wolf, let alone doing so at such a high level of success.”
