Lansing, MI, October 1, 2018 – Premier Thermal Solutions (“PTS” or the “Company”), a leading provider of metal heat treating services, today announced that it has acquired Al-Fe Heat Treating (“Al-Fe”), the largest commercial aluminum heat treater in the United States.
For 40 years, PTS has provided commercial metal processing services to a variety of industries, including automotive, heavy truck, energy, wire rope, heavy equipment, rail, agriculture and aviation, through its wholly owned subsidiaries, Atmosphere Annealing and NitroSteel. Since opening its first plant in Lansing, Michigan, in 1978, PTS has strategically expanded to five facilities in four locations across the Midwest.
“With the acquisition of Al-Fe, PTS has expanded its service offerings to include both ferrous and aluminum heat treating services. This is an important diversification of our portfolio as we expect to see substantial growth in the use of aluminum in the automotive industry as well as in a variety of other industries that we serve,” said Steve Wyatt, President of PTS. “In addition to its aluminum processing capabilities, Al-Fe is Nadcap certified which will allow PTS to enhance its service offerings in other end-markets such as aerospace and defense.”
“Al-Fe is a valuable addition to PTS’ product and service portfolio and we are pleased to welcome the Al-Fe team to the Z Capital family,” said James Zenni, Founder, President and Chief Executive Officer of Z Capital. “Strategic growth is a core component of our investment strategy for PTS and this acquisition represents an important step in creating one of the largest commercial heat treaters with the most value-added and diverse service portfolio in the United States.”
“We are thrilled to have closed this transaction and expect to announce incremental acquisitions over the next 12 months,” said Rahul Sawhney, Senior Managing Director of Z Capital. “After carving out PTS from its prior owner in 2017, the PTS executive team, with the support of Z Capital’s operational resources, solidified PTS’ infrastructure, making the Company acquisition-ready. Not only does Al-Fe add incremental heat treating capabilities, but also further strengthens the collective talent at PTS, which will be instrumental in continuing to provide superior customer service.”
Premier Thermal Solutions was acquired by Z Capital Partners, LLC in 2017.
About Premier Thermal Solutions
Premier Thermal Solutions is a leading provider of metal heat treating services. PTS offers high quality products and services through its wholly-owned subsidiaries, Atmosphere Annealing and NitroSteel, with plants located in Lansing, Michigan, Canton, Ohio, North Vernon, Indiana, and Pleasant Prairie, Wisconsin. For more information, please visit https://www.premierthermal.com/
Atmosphere Annealing has more than 400,000 tons of installed heat treating capacity including annealing, ferritic nitrocarburizing (FNC), normalizing, and quench & temper processing for various industries, including automotive, light and heavy truck, agriculture, and energy. The company also offers a variety of other metal processing services including phosphate coating, shot blast cleaning, cutting and testing.
NitroSteel is the only domestic provider of ferritic nitrocarburized bars and tubes in the 13-24′ range. NitroSteel’s process is a “green” alternative to chrome, providing improved wear resistance, better lubrication retention, dent resistance, increased service life, and can last up to three times longer.
About Al-Fe Heat Treating
Al-Fe Heat Treating is the largest commercial aluminum heat treater in the United States with four plants in Defiance, Ohio, Saginaw, Michigan, Wadsworth, Indiana, and Wabash, Indiana. Al-Fe is the go-to source for the most demanding heat treat applications including continuous or drop-bottom processing, precision air quench for distortion control, hyperquench for Aerospace specifications or testing/inspection services. Al-Fe is Nadcap accredited, CQI-9 compliant, ISO/9001, IATF 16949 registered and ITAR registered. For more information, please visit www.al-fe.com.
About Z Capital Group
Z Capital Group, L.L.C. and its subsidiaries (“Z Capital”) are a leading alternative asset management firm with approximately $2.3 billion of regulatory assets under management. For over two decades, the Partners of Z Capital have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, automotive parts, capital equipment and general manufacturing.
Z Capital creates value for its investors by collaborating with talented management teams to generate investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies. The Z Capital Private Equity Funds’ portfolio companies are within numerous industries, have aggregate annual revenues of approximately $1.3 billion, sell products in 57 countries, and have over 11,000 employees and an excess of 200,000 associates, directly and through joint ventures worldwide. The Z Capital investment strategy and portfolio companies are described at www.zcapgroup.net.
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