Metals & Mining

On March 11, 2022, KeyBanc Capital Markets (KBCM) successfully closed the financing of $289 million Incremental Senior Secured Credit Facilities for Canam Steel Corporation (CSC), a portfolio company of American Industrial Partners (AIP). The facilities are comprised of a $40 million Incremental Revolving Credit Facility and a $249 million Senior Secured Term Loan Facility. Proceeds were used to fund a distribution to AIP, support working capital needs and pay transaction related fees and expenses. KBCM served as Joint Lead Arranger on this transaction.

Founded in 1973 and headquartered in Point of Rocks, Maryland, Canam Steel Corporation is a manufacturer of non-residential construction building products including open-web steel joists and a variety of steel deck products. In addition to its steel joist and deck products, CSC offers value-added services including personalized customer service and value-added engineering capabilities. Its products are used in a wide variety of projects including distribution warehouses, schools and high-rise buildings, stadiums, office buildings, retail buildings, and renovations.

On November 30, 2021, KeyBanc Capital Markets (“KBCM”) successfully advised VORTEQ Coil Finishers, LLC (“VORTEQ” or the “Company”), a portfolio company of Peninsula Pacific Strategic Partners (“PPSP” or “Peninsula Pacific”) on its sale to private investors (“PCH LLC”) in collaboration with Shadowbriar Capital Partners, LLC (“Shadowbriar”). KBCM was selected to serve as Exclusive Sell-Side Advisor based on its industry-leading metals investment banking practice, deep industry expertise, relevant transaction experience and track-record of successful M&A execution.

Headquartered in Oakmont, PA, VORTEQ is a leading, independent coil coating platform, specializing in coating aluminum and light-gauge steel coils. As a toll-processor, The Company provides customers a ‘turn-key’ coil processing solution, with a comprehensive suite of value-added services including slitting, embossing, cut-to-length and printing. VORTEQ operates through a coast-to-coast network of seven facilities, serving a range of customers in key end-markets such as building products, non-automotive transportation and signage.

Peninsula Pacific acquires controlling interests in and actively manages businesses in the consumer and industrial sectors. PPSP operates as a private holding company that capitalizes, restructures, and ultimately builds meaningful businesses, in partnership with management, over an indefinite time horizon.

Shadowbriar is a Los Angeles based private equity firm that seeks to make control investments in leading lower middle-market industrial businesses that demonstrate strong potential.

On November 1, 2021, Roller Bearing Company of America, Inc. (“RBC Bearings” or the “Company”) successfully closed the acquisition of the DODGE mechanical power transmission division (“DODGE”) of Asea Brown Boveri Ltd. To finance the acquisition, RBC Bearings issued $500 Million Senior Notes due 2029 (the “Notes”), which partially terminated KeyBanc Capital Markets’ (”KBCM”) commitment to the Bridge Facility. Additional acquisition financing included a new $1.8 billion Senior Secured Credit Facility, Convertible Equity and Common Equity. The Notes, which priced on September 23rd, saw strong investor demand and priced through official price talk. Initial price talk was whispered in the low 5.00%s, official price talk later emerged at 4.50%-4.75% and the deal ultimately priced at a coupon of 4.375%. KBCM acted as Joint Bookrunner on the transaction.

RBC Bearings is an international manufacturer and marketer of highly engineered precision bearings and products, which are integral to the manufacture and operation of most machines, aircraft and mechanical systems, to reduce wear to moving parts, facilitate proper power transmission, reduce damage and energy loss caused by friction, and control pressure and flow.

DODGE is a leading manufacturer of mounted bearings and mechanical products with market-leading brand recognition. DODGE manufactures a complete line of mounted bearings, enclosed gearing and precision components across a diverse set of industrial end markets.

On September 20, 2021, KeyBanc Capital Markets (“KBCM”) successfully advised Arrow Tru-Line Inc. (“ATL” or the “Company”), a portfolio company of Sun Capital Partners (“Sun”) on its sale to MiddleGround Capital (“MiddleGround”). Sun engaged KBCM as its Exclusive Sell-Side Advisor based on its long-standing relationship, strong Building Products and Metals practices and proven M&A execution capabilities.

ATL., headquartered in Archbold, Ohio, is the leading independent manufacturer and supplier of a full spectrum of structurally critical hardware components to the rapidly growing U.S. sectional overhead garage door market. Since its inception, the Company has earned its reputation as the industry’s most trusted manufacturer of garage door hardware through its premier processes and overall quality.

Sun Capital Partners is a global private equity firm focused on partnering with outstanding management teams to accelerate value creation. Since 1995, Sun Capital has invested in more than 425 companies worldwide.

MiddleGround Capital is a private equity firm that makes control equity investments in lower middle market North American companies in the B2B industrial and specialty distribution sectors.