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Dynacast acquired by investment firm
NEWS
Metal Powder Report Volume 70, Number 2 March/April 2015
Dynacast acquired by investment firm
NEWS
A controlling stake in MIM specialist Dynacast has been acquired by global private markets investment manager Partners Group as well as shareholders and the company’s management team. The transaction has an overall enterprise value of US$1.1 billion and is expected to close in February 2015. Dynacast International makes metal components for the automotive, telecommunications, computing, consumer electronics and healthcare industries using die-casting and metal injection molding (MIM) technologies. Partners Group is acquiring Dynacast from exiting financial investors and is joined in the acquisition by Kenner & Company, an
existing shareholder, and the company’s management team. Following the acquisition, Partners Group and Kenner & Company will work with Dynacast’s management team to support the company in the next phase.
Growth phase ‘Dynacast has a long and rich history of continuously refining our proprietary manufacturing technologies, in-house tooling expertise and innovative design processes to manufacture highly complex metal components in a fast, repeatable and precise manner to provide greater value to our customers,’ said Simon Newman, CEO of Dynacast. ‘With the investment led by
Partners Group, we have the strategic support and capital backing to enter into the next phase of growth for our company.’ ‘Dynacast already has a truly differentiated position as a global supplier in the precision metal components marketplace and we see exciting potential for further expansion,’ added Joel Schwartz, MD at Partners Group in New York. ‘We believe our global platform and deep network of industry relationships make us the ideal partner to back management’s vision for the business going forward, particularly through our assistance with acquisitions and with the deepening of the company’s integrated, worldwide approach.’ Dynacast International; www.dynacast.com
General Moly announces US$8.5 million private placement financing U.S. based molybdenum mining company General Moly has signed definitive agreements with a group of accredited investors related to a private placement of units, consisting of senior convertible notes and warrants for gross proceeds of US$8.535 million. Proceeds from the offering will be used to maintain the company’s Mt. Hope and Liberty molybdenum mining project. General Moly says that it has also taken actions to improve its liquidity position by reducing ongoing spending requirements, resulting in annual savings
of over US$2 million per year. The company is engaged in ongoing discussions with POS-Minerals to use the US$36 million of General Moly’s restricted cash to fund ongoing Mt. Hope expenditures.
Challenging market ‘We are gratified by the demand for this Private Placement despite a challenging market,’ said Bruce D. Hansen, CEO. ‘We believe that the investment made by our management team and board of directors provides a strong statement
of support for the future prospects of General Moly. ‘The company remains focused on Mt. Hope financing, and is increasingly encouraged by the progress made. [...] We have strong interest from multiple private Chinese industrial companies and a large Chinese bank in advancing the fully permitted, construction-ready project. These potential Chinese partners take a long term view, and believe as we do, that the molybdenum price should strengthen by the time Mt Hope will start producing.’ General Moly; www.generalmoly.com
GKN Automotive moves into new HQ GKN Automotive today announced it has moved into a new regional headquarters for the Americas in Auburn Hills, Michigan. The 168,000 ft2 facility is now home to the company’s GKN Driveline and GKN Sinter Metals divisions and also houses employees from GKN’s Land Systems and North American Services groups. The HQ features testing and validation equipment along with additional engineering design areas for driveline and sinter metal products. It also provides the company with an additional 20% more space for engineering and testing activities.
Additional resources ‘Moving into the new facility is an important step in supporting our customers around the world,’ said Robert Willig, president, GKN Driveline Americas. 58
GKN Automotive moved into new office in Auburn Hills, Michigan. The company increased its engineering and testing space by 20 percent (PRNewsFoto/GKN Automotive).
Metal Powder Report Volume 70, Number 2 March/April 2015
Dynacast acquired by investment firm
NEWS
A controlling stake in MIM specialist Dynacast has been acquired by global private markets investment manager Partners Group as well as shareholders and the company’s management team. The transaction has an overall enterprise value of US$1.1 billion and is expected to close in February 2015. Dynacast International makes metal components for the automotive, telecommunications, computing, consumer electronics and healthcare industries using die-casting and metal injection molding (MIM) technologies. Partners Group is acquiring Dynacast from exiting financial investors and is joined in the acquisition by Kenner & Company, an
existing shareholder, and the company’s management team. Following the acquisition, Partners Group and Kenner & Company will work with Dynacast’s management team to support the company in the next phase.
Growth phase ‘Dynacast has a long and rich history of continuously refining our proprietary manufacturing technologies, in-house tooling expertise and innovative design processes to manufacture highly complex metal components in a fast, repeatable and precise manner to provide greater value to our customers,’ said Simon Newman, CEO of Dynacast. ‘With the investment led by
Partners Group, we have the strategic support and capital backing to enter into the next phase of growth for our company.’ ‘Dynacast already has a truly differentiated position as a global supplier in the precision metal components marketplace and we see exciting potential for further expansion,’ added Joel Schwartz, MD at Partners Group in New York. ‘We believe our global platform and deep network of industry relationships make us the ideal partner to back management’s vision for the business going forward, particularly through our assistance with acquisitions and with the deepening of the company’s integrated, worldwide approach.’ Dynacast International; www.dynacast.com
General Moly announces US$8.5 million private placement financing U.S. based molybdenum mining company General Moly has signed definitive agreements with a group of accredited investors related to a private placement of units, consisting of senior convertible notes and warrants for gross proceeds of US$8.535 million. Proceeds from the offering will be used to maintain the company’s Mt. Hope and Liberty molybdenum mining project. General Moly says that it has also taken actions to improve its liquidity position by reducing ongoing spending requirements, resulting in annual savings
of over US$2 million per year. The company is engaged in ongoing discussions with POS-Minerals to use the US$36 million of General Moly’s restricted cash to fund ongoing Mt. Hope expenditures.
Challenging market ‘We are gratified by the demand for this Private Placement despite a challenging market,’ said Bruce D. Hansen, CEO. ‘We believe that the investment made by our management team and board of directors provides a strong statement
of support for the future prospects of General Moly. ‘The company remains focused on Mt. Hope financing, and is increasingly encouraged by the progress made. [...] We have strong interest from multiple private Chinese industrial companies and a large Chinese bank in advancing the fully permitted, construction-ready project. These potential Chinese partners take a long term view, and believe as we do, that the molybdenum price should strengthen by the time Mt Hope will start producing.’ General Moly; www.generalmoly.com
GKN Automotive moves into new HQ GKN Automotive today announced it has moved into a new regional headquarters for the Americas in Auburn Hills, Michigan. The 168,000 ft2 facility is now home to the company’s GKN Driveline and GKN Sinter Metals divisions and also houses employees from GKN’s Land Systems and North American Services groups. The HQ features testing and validation equipment along with additional engineering design areas for driveline and sinter metal products. It also provides the company with an additional 20% more space for engineering and testing activities.
Additional resources ‘Moving into the new facility is an important step in supporting our customers around the world,’ said Robert Willig, president, GKN Driveline Americas. 58
GKN Automotive moved into new office in Auburn Hills, Michigan. The company increased its engineering and testing space by 20 percent (PRNewsFoto/GKN Automotive).