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Metra completes acquisition of extruded aluminum corporation, acquisition of Leading North American Manufacturer of Custom, Extruded Aluminum Profiles
06 October 2023
Further Expands Metra’s Global Platform with its Fourth Acquisition Since 2021
[RODENGO SAIANO, Italy] (October 6, 2023)
Metra S.p.A. (together with its subsidiaries and affiliates, “Metra”), a leading global manufacturer of extruded aluminum and a portfolio company of KPS Capital Partners, LP (“KPS”), announced today that it completed the acquisition of Belding Machinery and Equipment Leasing, LLC and its subsidiaries (together “Extruded Aluminum Corporation,” “EAC” or the “Company”). Financial terms of the transaction were not disclosed.
EAC is a leading U.S. manufacturer of custom, extruded aluminum profiles and related value-added fabrication, assembly and finishing services. EAC provides a variety of custom, extruded aluminum profiles to diverse end-markets including solar, transportation, military, material handling, residential and commercial construction and marine applications. EAC has approximately 170 employees across two facilities located in Belding and Kentwood, MI.
Enrico Zampedri, Chief Executive Officer of Metra, said, “The acquisition of EAC marks a significant milestone for Metra as it accelerates our geographic expansion within North America and continues our end-market diversification strategy, including entry into the high growth North American utility grade solar industry. We are very impressed by EAC’s technical expertise and manufacturing capabilities, in addition to its commitment to providing customers with premier quality and service. Furthermore, the acquisition of EAC will significantly enhance the combined business’ presence in North America and will allow each business to leverage the combined platform’s technical capabilities and asset base in order to best serve our global customer base. We are pleased to welcome the entire EAC team into Metra as we continue to build an industry leader in the global extruded aluminum market.”
Charles Hall, President of EAC, said, “EAC has grown from a two-press operation in 1987 to its current five press lines and has built its reputation on world-class quality and customer service. Over the past 37 years the Company has developed strong relationships with both its employees and its loyal customer base. This business combination will provide additional opportunities for our employees, as well as access to additional resources and capabilities for our customers. The entire EAC team is thrilled to begin this new chapter with Metra under KPS’ ownership.”
TD Cowen served as debt capital markets advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Metra and KPS. Origin Merchant Partners served as financial advisor and Varnum LLP served as legal counsel to EAC.
Metra is a global, vertically integrated manufacturer of extruded aluminum profiles and related value-added services, including painting, oxidation, machining, welding and assembly. Metra offers a full range of extruded aluminum profiles, which are used primarily in the industrial and building & construction end-markets across Europe and North America. Headquartered in Rodengo Saiano, Italy, Metra employs approximately 1,250 employees globally and operates eight strategically located manufacturing facilities across Italy, Canada and the United States. For additional information, please visit www.metra.eu/en/.
About Extruded Aluminum Corporation
EAC is a U.S. manufacturer of custom extruded aluminum profiles and related value-added fabrication, assembly and finishing services. EAC provides a variety of custom extruded aluminum profiles to diverse end-markets including solar, transportation, military, material handling, residential and commercial construction and marine applications. EAC has approximately 170 employees across two facilities located in Belding and Kentwood, MI. For additional information, please visit www.extrudedaluminum.com.