Platinum Equity to purchase copper powder producer SCM Metal Products from Gibraltar Industries
October 9, 2008
Platinum Equity announced today it has signed a definitive agreement to purchase SCM Metal Products, Inc. from Gibraltar Industries, Inc. for an undisclosed amount. SCM is a manufacturer and distributor of copper-based powders to the powder metallurgy and metal injection molding industries.
‘This is a very exciting time for all of us at SCM,’ said Barton White, President of SCM. ‘We expect to have additional resources to grow our business both organically and through M&A transactions. There are many opportunities for growth in the U.S., China and the other export markets SCM serves in the powder metallurgy, chemical, electronics and industrial markets. I know that Platinum Equity shares my enthusiasm for the future and their support will be critical to our success.’
Jacob Kotzubei, the Platinum partner who led the SCM transaction, explained that SCM is well suited for Platinum’s operations-intensive approach. ‘SCM is a market leader with a strong customer base and an experienced management team, and its parent company is divesting the business to focus on other core operating segments,’ said Mr. Kotzubei. ‘We have a strong track record of helping companies like SCM reach their full potential.’
Barton White noted that Platinum’s resources and commitment to growth are a perfect fit for SCM. ‘Platinum and I share the same vision for growing SCM through exceptional customer service, innovative product development and smart strategic investments,’ said Mr. White. Platinum’s acquisition of SCM is the latest in a series of successful investments Platinum has made in the industrial and metals services industry.
Platinum Equity: Dan Whelan, +1 310-282-9202
[email protected]
SCM Barton White: President, +1 919-287-9880
[email protected]
