Keystone Capital, Inc. (“Keystone”) is pleased to announce that it has acquired Craft Cast Company (“Craft Cast”), a specialty full-service investment castings manufacturer serving the mining, consumer product, and niche industrial markets.
The Craft Cast acquisition represents the third acquisition for Keystone Capital during 2008, and was completed during a time when the broader financial markets are experiencing significant turmoil. “The acquisition of Craft Cast demonstrates Keystone Capital’s ability to close complex transactions with a high degree of certainty and speed to closing – especially given the broader economic and financial market environment,” said Scott Gwilliam, Managing Director of Keystone Capital.
Craft Cast is a full service provider of castings in ferrous and non-ferrous metals and alloys, including stainless steel, brass, bronze, aluminum, and others. The Company also offers complete engineering support, as well as machining, assembly and finishing services. This full range of capabilities allows Craft Cast to serve as a one-stop shop that produces a finished part for its diverse set of customers. Craft Cast is headquartered in Jackson, Wisconsin and is led by President and CEO Alexander (Al) Scargall, an industry veteran previously with General Motors and Brillion Iron Works.
Terms of the transaction were not disclosed. Keystone Capital and Craft Cast are committed to the future growth of the Company, and are interested in discussing opportunities to acquire other casting manufacturers (investment casting and other), niche machining service providers, and other manufacturers of precision metal components supplied to world class OEMs in any industry.