Metal-Matic Has Been Acquired by PTC Alliance
HOUSTON, January 13, 2022 – GulfStar Group ("GulfStar") is pleased to announce that Metal-Matic, Inc. (“Metal-Matic” or the “Company”) has been acquired by PTC Alliance LLC (“PTC Alliance”), a portfolio company of Black Diamond Capital Management LLC ("Black Diamond"). GulfStar served as the exclusive financial advisor to Metal-Matic throughout the transaction, which closed on December 29, 2021.
Metal-Matic is a global leader in the production of welded and drawn over mandrel (DOM) carbon steel tubing for standard and specialty applications. The transaction included Metal-Matic's four production facilities, which employ over 500 associates in Minnesota, Illinois and Ohio.
PTC Alliance is the leading manufacturer and marketer of welded and DOM mechanical steel tubing, cold drawn seamless, fabricated, precision tubular components, and chrome-plated steel bars. For nearly 100 years, PTC Alliance has been an essential supplier to major end-users, including construction and agricultural equipment, machinery and appliances, as well as automotive, heavy truck and energy applications.
“It was a pleasure to work with the third-generation family that passively owned this leading steel tubing manufacturer and its management team,” said Kent Kahle, managing director of GulfStar. “PTC Alliance and Black Diamond are an excellent fit to continue the success Metal-Matic has enjoyed for the past 70 years.”
The GulfStar team was led by Managing Director Kent Kahle with support from Vice President Alex Pette, Associate Payton Schramm and Analyst Jack Brady.
Black Diamond Capital Management
Black Diamond is a leading alternative investment firm with over $9 billion in assets across four core platforms: control distressed and special situations private equity funds; hedge funds; non-control stressed and distressed closed-ended funds; and collateralized loan obligations and structured products. Black Diamond has over 25 years of experience in underwriting, trading, restructuring and managing performing, stressed, distressed and private equity investments through multiple market cycles. Black Diamond is an SEC-registered Investment Adviser with over 80 employees operating from offices in Stamford, CT, London, UK and St. Thomas, VI.
About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed approximately 750 transactions in 36 states and 16 foreign countries across a variety of industries.