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By The Daily News Staff | on October 06, 2023 Copper Rod Upcast
OTISCO TOWNSHIP — Metra S.p.A., a leading global manufacturer of extruded aluminum and a portfolio company of KPS Capital Partners (KPS), announced on Wednesday that it completed the acquisition of Belding Machinery and Equipment Leasing LLC and its subsidiaries, also known as Extruded Aluminum Corp. (EAC).
Metra S.p.A., a leading global manufacturer of extruded aluminum and a portfolio company of KPS Capital Partners, acquired Belding Machinery and Equipment Leasing LLC and its subsidiaries this week, also known as Extruded Aluminum Corp. Located at 7200 Industrial Drive in Otisco Township just outside of Belding, Extruded Aluminum Corp. underwent a $35 million, 14-acre, 177,000-square-foot expansion last year. Pictured are components inside a new 14-inch aluminum extrusion press installed last year. — DN file photo
Financial terms of the transaction were not disclosed.
EAC at 7200 Industrial Drive in Otisco Township just outside of Belding, underwent a $35 million, 14-acre, 177,000-square-foot expansion last year, which the Daily News previously covered.
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.
“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,” said Metra CEO Enrico Zampedri. “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.”
“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,” EAC President Charles Hall said. “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, visit metra.eu/en.
For additional information about EAC, visit extrudedaluminum.com.
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