Metal Spinners, Inc. of Angola, Ind. (www.metalspinners.com), a portfolio company of Reliant Equity Investors, has purchased Missouri Metals, LLC (www.missourimetals.com), a manufacturer of close tolerance, specialty metal components for use primarily in the aerospace, defense and power generation industries headquartered in St. Louis, Mo.
New York-based Golub Capital (www.golubcapital.com) said it provided a $27.5 million senior credit facility in connection with the purchase. The purchase price was not disclosed.
The two businesses will form a diverse metalworking company specializing in metal spinning, drop hammer forming, hot forming and stretch forming, with manufacturing facilities in St. Louis; Rock Falls, Ill.; Angola, Ind.; Jasper, Ga.; and Saginaw, Texas.
Edward "Ted" Broadfield said he will remain as president of Missouri Metals, which will continue to operate under the same name, at the same facility, with the same employees. "The only thing that's changed is the board of directors and who we send our checks to," Broadfield said.
Metal Spinners said it is the largest independent domestic metalworking, manufacturing and service company specializing in metal spinning, hydro forming, deep drawing and other niche metal forming alternatives for use in a number of end markets including air handling, industrial/commercial and agriculture.
"With the acquisition of Missouri Metals, Metal Spinners is well- positioned for strong growth. We are pleased to support Metal Spinners as they expand their value-proposition with both existing and new customers," Thomas Turmell, a principal with Golub Capital said.