Global Brass and Copper Holdings Acquires Alumet
SCHAUMBURG, IL.–(BUSINESS WIRE)–November 1, 2017–A.J. Oster, LLC, a subsidiary of Global Brass and Copper Holdings, Inc., (NYSE:BRSS) (“A.J. Oster” or the “Company”), announces that it has acquired the business of Unimet Metal Supply Inc., which includes Alumet Supply (together “Alumet”), for approximately $42 million in cash. Founded in 1989 and headquartered in Parsippany, N.J., Alumet is an industry leading non-ferrous metals service center that provides coated aluminum, aluminum, copper and brass sheet, and strip products to the building and housing and transportation markets through its cut to length, slitting, and coating capabilities.
A.J. Oster acquired substantially all of Alumet’s assets to expand A. J. Oster’s product portfolio to include aluminum sheet and strip in addition to leveraging A.J. Oster’s presence in the copper and brass strip industry. This acquisition also expands A.J. Oster’s geographic presence into the South and Southeast through Alumet’s facilities in Atlanta and Texas while also providing additional outlets for Alumet’s products through A.J. Oster’s facilities in the Chicago area and Mexico.
“This transaction marks a significant step in Global Brass and Copper’s strategic efforts to profitably grow through acquisition, and we are excited about adding Alumet to our company,” said John Wasz, Chief Executive Officer of Global Brass and Copper. “We have diligently searched for acquisition opportunities that are financially and strategically attractive. We expect Alumet to be accretive to our earnings and provide increased returns to shareholders. This acquisition is an important addition to A.J. Oster as it expands our geographic presence in targeted regions, strengthens our position in the aluminum market, and enhances our position as a market leader in the non-ferrous metals distribution business.” Kevin Bense, President of A.J. Oster, stated, “We are excited about the synergies this acquisition brings to A.J. Oster to generate profitable growth. We look forward to working with the Alumet leadership team and employees to integrate these businesses over the coming months.”
Global Brass and Copper’s management team will discuss the transaction in more detail during the third quarter earnings call, scheduled for Friday, November 3, 2017 at 9:00 AM Central Time.
About Global Brass and Copper
Global Brass and Copper Holdings, Inc. through our wholly-owned principal operating subsidiary, Global Brass and Copper, Inc., is a leading, value-added converter, fabricator, processor and distributor of specialized non-ferrous products in North America. We engage in metal melting and casting, rolling, drawing, extruding, welding and stamping to fabricate finished and semi-finished alloy products from processed scrap, virgin metals and other refined metals. Our products include a wide range of sheet, strip, foil, rod, tube and fabricated metal component products that we sell under the Olin Brass, Chase Brass and A.J. Oster brand names. Our products are used in a variety of applications across diversified markets, including the building and housing, munitions, automotive, transportation, coinage, electronics/electrical components, industrial machinery and equipment and general consumer markets.
Media Contact:
Christopher J. Kodosky
Global Brass and Copper Holdings, Inc.
Chief Financial Officer
(847) 240-4700
Mark Barbalato
FTI Consulting
(212) 850-5707