Silverhawk Capital Partners

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Silverhawk Capital Partners Acquires Elyria Foundry Company PDF Print E-mail
ImageMarch 5th, 2007 – Silverhawk Capital Partners (“Silverhawk”), a private investment firm headquartered in Greenwich, Connecticut, has purchased a majority equity stake in the Elyria Foundry Company, LLC (“Elyria” or the “Company”). Financing for the transaction was provided by National City Bank, which acted as agent for the senior credit facility, and Laminar Direct Capital L.P., a member of the D. E. Shaw group, and Crestline Investors, which together, provided the subordinated debt financing. Western Reserve Partners advised Elyria in the sale process. Terms of the deal and financials of Elyria were not disclosed.

Based in Elyria, Ohio, the Company is a leading producer of medium and large‐sized complex gray and ductile iron castings. The Company’s products are primarily used in energy market applications such as natural gas compression equipment and coal pulverizers for electric power generation. Other applications include refrigeration & air conditioning, mining, agriculture & transportation, air compressors and power transmission equipment.

Silverhawk believes that the combination of Elyria’s strong market position and its ability to produce high quality, complex products will provide the Company with many attractive growth opportunities going forward.

“We are excited to have Silverhawk as our financial partner, as the strong cultural fit between our two organizations, coupled with their knowledge of our business, made them a natural choice for us as we continue to build our company,” says Elyria Chairman and CEO, Gregg Foster.

“Silverhawk was attracted to Elyria because of its industry leading position, strong end‐market dynamics and excellent management team,” says Jim Cook, Managing Partner, Silverhawk Capital Partners. “Elyria’s success is a tribute to the management team, and we are excited to partner with them going forward.”

About Silverhawk Capital Partners

Silverhawk Capital Partners is an independent investment firm established in 2005 to investment in middle market transactions within the Growth Industrial, Energy/Natural Resources and Business Service sectors. Silverhawk typically invests between $10 million and $50 million of equity capital in growth oriented businesses with revenues ranging from $25 million to $250 million. Silverhawk is currently investing its $150 million debut fund. Silverhawk has offices in Greenwich, Connecticut and Charlotte, North Carolina.

Reach Silverhawk at (203) 861‐2905, or via email at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
 
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