|By PR Newswire||
|February 16, 2017 04:00 PM EST|
CHARLOTTE, N.C., Feb. 16, 2017 /PRNewswire/ -- Dynacast International, a global manufacturer of precision engineered metal components, is pleased to announce the signing of a definitive share purchase agreement (SPA), signed on Saturday, February 11, 2017, to acquire Signicast, LLC. The transaction has committed debt financing from JPMorgan Chase Bank, N.A., Barclays, and Macquarie Capital and is subject to regulatory approvals and customary closing conditions, expected to close in late March.
Signicast is a highly automated and vertically integrated manufacturer of precision investment cast parts. The company is the largest commercial investment casting manufacturer in the world and is regarded for its superior product quality and value, speed and flexibility, and customer services.
Combining the companies' offerings will provide customers even more design freedom, with expanded choices of material, part complexity, and volume. As part of the merger, Signicast will remain as a separate operating division, ensuring business as usual for customers.
"Given Signicast's complementary manufacturing technology, this acquisition will expand our existing customer offerings and accelerate our strategic vision for growth. I look forward to working closely with the Signicast team to ensure that the combined company continues to provide our customers with unparalleled technology, quality, and service," stated Simon Newman, Dynacast's Chairman and Chief Executive Officer.
Once the transaction is closed, the acquisition is expected to add over 800 employees from Signicast's two campuses in Wisconsin. This addition will expand Dynacast's footprint to more than 9,500 employees in 27 locations. The merger will allow Dynacast to continue growing both businesses, with intentions to globalize the Signicast division in the coming years.
This transformative acquisition is the next step of Dynacast's strategic vision toward becoming a $1 billion-plus organization over the next two to three years and furthers Dynacast's position as the foremost global manufacturer of precision metal components.
About Dynacast International Inc.
Dynacast works with organizations all over the world, helping bring their ideas to life with the highest quality precision engineered metal components on the planet. Customers can come from virtually any industry—consumer electronics, automotive, healthcare, or any other where only the very best is good enough. And each benefits from our 80 years of experience pioneering the techniques and technologies that have redefined the industry. www.dynacast.com
About Signicast, LLC.
As a leading provider of investment castings, Signicast's highly automated process provides OEMs with unparalleled lead times and quality levels. Combined with world-class engineering support and unique one-stop manufacturing solutions including machining, heat treating, painting, and assembly, Signicast customers receive the industry's lowest total cost. www.signicast.com
For more information, please contact:
Taylor Topper, Dynacast International Inc.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/dynacast-to-acquire-signicast-opens-new-markets-expands-diversification-300409092.html
SOURCE Dynacast International Inc.
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