NEW YORK CITY, NY / ACCESSWIRE / October 9, 2024 / V&A Capital ("V&A") is pleased to announce that it has sold its portfolio company Precision Kidd Steel Co., Inc. ("PK" or the "Company") to the Jade Steel Group, a large strategic buyer actively involved in steel wire and bar machining and distribution.
Headquartered in Aliquippa, PA, Precision Kidd Steel was founded in 1885 and currently has manufacturing operations in Aliquippa and Clinton, PA. The Company is a leading producer of close tolerance, high quality cold drawn / cold finished steel bar, wire and special profile shapes which are further refined by its customers into parts and components used in a variety of industries, including tools, automotive, medical applications, and many others.
During its ownership period, V&A made meaningful investments in PK's people, technology, equipment, and corporate infrastructure to solidify its position as a critical US-based supplier of close tolerance, cold drawn parts to a demanding and diversified customer base. For example, shortly after the acquisition, V&A invested in new growth capital expenditures, added to the sales organization and helped the Company transition to a new management team. These investments helped solidify PK's position as the major supplier in its market niche.
Nicolò Vergani, Managing Partner of V&A, noted: "Precision Kidd was V&A's first investment and it provided V&A with a solid asset from which to expand our portfolio to six companies in the years that followed. At the time that we acquired PK, we identified several unique challenges that might have dissuaded other financial buyers, priced these into our valuation, successfully implemented strategies to address these issues and returned the investors multiple times their capital invested over the course of our ownership."
About V&A Capital
V&A Capital seeks majority ownership in profitable, well-run companies in North America and Europe with an EBITDA ranging from $1 million to $10 million. V&A invests primarily in the manufacturing and distribution industries but also seeks to acquire companies in the business services, consumer goods and packaging sectors. V&A's nimble and highly experienced team has an extensive and successful track record of investing in family-owned or owner-operated businesses, working in partnership with them and their management teams to pursue growth while respecting and maintaining the company's history and culture.
For more information please visit V&A Capital's website at www.vandacapital.com. Interested parties may contact V&A Capital through the website as well or reach out at info@vandacapital.com.
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SOURCE: V&A Capital
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