Keystone Capital, Inc. (“Keystone”) is pleased to announce that its affiliate, Craft Cast Holdings, LLC (“Craft Cast”), has completed a merger with Avalon Precision Casting Company (“Avalon”). Terms of the transaction are not being disclosed.
Avalon is a leading manufacturer of precision investment castings based in Cleveland, Ohio. Founded in 1986 by John Kemper, Sr. and Mel Kman, Avalon is one of the leading niche, independent investment casting foundries in its region. Avalon services blue-chip customers in the general industrial, pump and valve, oil & gas and capital equipment industries. All employees, management, and operations of Avalon will remain unchanged in the partnership with Craft Cast.
“The partnership between Craft Cast and Avalon demonstrates our commitment to building a leading investment casting platform capable of servicing a broad array of end markets and customers from multiple facilities across the country,” remarked Al Scargall, CEO of Craft Cast.
“We are extremely pleased with what this partnership will mean for both Avalon and Craft Cast,” said Mel Kman, President of Avalon. “Although our business will remain the same with no noticeable impact to our key stakeholders, we are very excited to continue servicing our customers as a part of a larger, very capable platform,” added Kman.
About Craft Cast
Craft Cast is a manufacturer of investment castings in a variety of alloys (including stainless steel, aluminum, and others), as well as a provider of value-added machining and finishing services. Craft Cast’s customer base includes original equipment manufacturers (OEMs) in the consumer products, mining, and general industrial product industries. Craft Cast is headquartered in Jackson, Wisconsin and has been a partner company of Keystone Capital since 2008. For more information, visit www.craftcastco.com.
Jason Van Zant