Bradken, a publicly traded Australian maker of cast steel for the
mining and railroad industries, had already owned a minority stake in
Atchison, Kansas-based AmeriCast, also a designer and manufacturer of
large, complex steel castings. AmeriCast has been busy rolling up other
steel casting companies over the last two years buying A.G. Anderson
Ltd. in April 2008 and Atlas Castings and Technology in April 2007.
The sale of its majority stake in AmeriCast gives Castle Harlan a 3-times
profit on its originally invested capital and an IRR of more than 90%.
The company was acquired from KPS Special Situations Funds in a secondary buyout valued at $110 million in November 2006.
-
George White
See full story on TheDeal.com
