October 6, 2006
GREENVILLE, Pa.-- Signature Aluminum, Inc. ("Signature Aluminum"), announced today its acquisition of Atlantic Aluminum LLC ("Atlantic"), located in Lumber Bridge, North Carolina. Signature Aluminum, (previously known as WXP, Inc.), is a portfolio company of Miami-based private equity firm H.I.G. Capital. Within the last ten months, Signature Aluminum has acquired Werner Co.'s Extruded Products Division located in Greenville, Pennsylvania, and Temroc Metals, Inc., located in Hamel, Minnesota. As a result, Signature Aluminum is today a leader in providing custom aluminum extrusions and alloyed aluminum billet to customers throughout North America. The transaction was completed on October 6, 2006. Terms of the transaction were not disclosed.
"With the Atlantic Aluminum acquisition, we take another step in building a strong and focused organization that is capable of competing long term in targeted niche market segments. The expansion of our geographic footprint will enable us to increase our agility in the marketplace and enhance our ability to serve our customers' needs, which is critical in establishing a sustainable competitive advantage," said John Thigpen, President of Signature Aluminum. "Atlantic provides us with a physical presence in the Southeast and offers high quality extrusion capabilities as well as an internal paint line to complement our current operations. We are excited about the added capabilities from the acquisition and welcome the Atlantic team to the Signature family."
John Young, Atlantic's Vice President & General Manager, commented "Atlantic is excited about the prospects for growth that come with this transaction. The Signature team is dedicated to providing custom aluminum extruded products to customers nationwide and has the breadth and depth of technical support needed to drive additional growth in this region. We will benefit greatly through this partnership and look forward to becoming part of an organization that is focused on fulfilling customer needs."
About Signature Aluminum
Originally founded as part of R.D. Werner Co., Inc. in Greenville, PA in 1951, Signature Aluminum was acquired in December 2005 by H.I.G. Capital, a leading private equity firm based in Miami, Florida. The company operates one of the largest independent aluminum extrusion facilities in the country and specializes in higher value-add and custom aluminum products. Temroc Metals, Inc., formerly owned by the Quanex Corporation, was acquired in January 2006. Signature Aluminum has operations in Greenville, PA and Hamel, MN with six extrusion presses, a cast house and over 400 employees. The Atlantic transaction increases the company's capacity by the addition of two extrusion presses and a vertical paint line.
Signature Aluminum engineers utilize leading tool and die technology and advanced extrusion processes to provide design solutions that meet customer expectations. Signature Aluminum offers a wide range of aluminum alloys and distinctive extrusion and fabrication capabilities that position the company to excel in servicing over five hundred current satisfied customers within the electrical, automotive and recreational vehicle, telecommunications, building product, specialized equipment, and durables markets.
About H.I.G. Capital LLC
H.I.G. Capital LLC ("H.I.G.") is a leading private equity and venture capital investment firm with more than $3 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has completed in excess of 70 transactions. The firm currently manages a portfolio of more than 40 companies with combined revenues in excess of $5 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
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