Tennenbaum Capital Partners Exits Ross Casting & Innovation

Tennenbaum Capital Partners Exits Ross Casting & Innovation

Tennenbaum Capital Partners has sold Ross Casting & Innovation, a subsidiary of its portfolio company Revere Industries, to ABI-Showatech.

Ross Casting & Innovation manufactures cast aluminum cold-side turbocharger impellers for commercial diesel and passenger car applications. Customers include BorgWarner, Cummins and Honeywell International. The company was founded in 1931 and is based in Sidney, OH (www.rciwheels.com).

Revere Industries is a manufacturer of metal and plastic components for aerospace, automotive and appliance end markets. Revere conducts its operations through its three operating companies: Metal Powder Products, Revere Plastics Systems, and Ross Casting & Innovation. The company is based in the Indianapolis suburb of Westfield (www.revereindustries.com).

ABI Showatech is a supplier of machined aluminum castings and provides research and development services, including simulation, testing and engineering support. The company is based in Chennai, India (www.showatechinc.com).

Tennenbaum Capital Partners makes investments up to $250 million in US-based companies that are undergoing change due to industry trends, economic cycles or specific company circumstances but have underlying physical assets and strong and defensible business franchises. Sectors of interest include technology, healthcare, energy, aerospace, business services, retail and general manufacturing. The firm is based in Santa Monica (www.tennenbaumcapital.com).

Amherst Partners, a middle market investment bank, acted as the exclusive financial advisor to Ross Casting & Innovation. Founded in 1994, Amherst Partners has offices in Birmingham and Ann Arbor, MI; and Chicago (www.amherstpartners.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 5-10-13

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