Peninsula Pacific Takes Vorteq West

Peninsula Pacific Takes Vorteq West

Vorteq Coil Finishers, a portfolio company of Peninsula Pacific since 2013, has acquired the assets of Western Metal Decorating.

Western Metal Decorating is a producer of coated aluminum and steel products used in the automotive, furniture, paint and appliance markets. The company was founded in 1973 and is headquartered near Los Angeles in Rancho Cucamonga, CA. As part of the acquisition, the operations of Western will be renamed Vorteq Pacific.

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, led by CEO Jim Dockey, has six facilities in Milwaukee, Chicago (2), Pittsburgh, Philadelphia, and Memphis. Vorteq recently announced that it was relocating its corporate headquarters from Oconomowoc, WI to Pittsburgh, PA.

“The expansion of the Vorteq brand to the West Coast is a strategic next step after our highly successful acquisitions on the East Coast in 2016 and Midwest in 2018,” said Mr. Dockey. “The transaction will uniquely position Vorteq to serve its national accounts in the gutter coil and residential building product market from coast to coast. Western also provides a strong foundation to service new markets and customers west of the Rockies.” In May 2018, Vorteq acquired Wheeling Services & Supply, a Woodstock, IL-based producer of pre-painted aluminum products used in the residential building and construction market; and in October 2016, it acquired Prior Coated Metals, an Allentown, PA-based producer of pre-painted steel and aluminum products.

“We believe that the Western acquisition is a highly compelling and attractive acquisition for Vorteq as it continues to successfully implement its ambitious strategic plan,” said Matt Homme, a 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, geographical reach, and customer base.”

With the buy of Western, Vorteq now operates nine continuous coil coating lines and has the broadest geographical reach in the pre-painted metals industry. “The creation of Vorteq Pacific in the Los Angeles area adds a strategic foundation in another major metropolitan area to complement existing processing capabilities in the Philadelphia, Pittsburgh, Chicago, Milwaukee and Memphis areas,” said Stephen Alarcon, a vice president of Peninsula Pacific.

Los Angeles-based 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 invests in a multitude of consumer and industrial sectors.

© 2019 Private Equity Professional | October 21, 2019

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