Acquisition expands Opta’s performance materials and specialty chemicals platform.
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Addition expands Opta’s premium product offerings and clean steel initiatives.
Opta Group LLC, a portfolio company of Speyside Equity Advisers (“Speyside”), is excited to announce the acquisitions of NuFlux LLC (“NuFlux”) and Nupro Corporation (“Nupro”) on Thursday, October 19, 2023.
NuFlux, headquartered in Cortland, Ohio, provides engineered materials and products used primarily in steelmaking and foundry operations. Nupro is a world leader in designing innovative technology to solve problems unique to the metallurgical industry. The company has an office in Lewiston, New York.
“We like these two businesses because they share our focus on customer service and value-added molten solutions,” says John Dietrich, CEO of Opta Group. “They add product and technology innovations that strengthen our ties to Opta customers and further our goal to be a premier service provider.”
About Opta Group
Opta Group is the leading supplier of performance materials and solutions in the molten metal, infrastructure, and specialty chemical industries. The Company serves the worldwide steelmaking, metal refining, concrete and cement, and pulp and paper industries. For more information, please visit optagroupllc.com.
About Speyside Equity Advisers
Speyside is a Detroit-based private equity firm focused on investing in middle-market buyout transactions in the manufacturing and value-added distribution sectors. Targeted portfolio companies often possess balance sheet, legal, environmental, labor, or transactional complexity. Speyside Equity focuses on creative transaction structures and is comfortable investing in carve-outs of large multinational companies, industry consolidations, family-owned businesses, bankruptcies and work-outs, and other special situations. Speyside takes an operational approach to creating value in those circumstances. Speyside has completed 30 investments. For more information, please visit speysideequity.com.
”We like these two businesses because they share our focus on customer service and value-added molten solutions.
John DietrichCEO of Opta
Acquisition adds specialty manufacturing capacity and increases business opportunities.
Opta Group LLC, a portfolio company of Speyside Equity, announced today that it acquired Metcan Industrial Corporation and its group of manufacturing operations on November 1, 2021.
Since its incorporation nearly 30 years ago, Metcan Industrial Corp. has established itself as a recognized leader by using state-of-the-art technologies to produce and distribute high- quality, custom-blended synthetic slag for use by steelmakers.
“We like this business because Metcan has a culture very similar to ours,” says John Dietrich, CEO of Opta Group. “And, like Opta, Metcan focuses on producing highly engineered synthetic formulations. The added manufacturing capacity gives us room to pursue more business opportunities.”
”We like this business because Metcan has a culture very similar to ours. The added manufacturing capacity gives us room to pursue more business opportunities.
John DietrichCEO of Opta Group
Dean and Nancy McCann founded Metcan in 1990 to supply synthetic slag to steel manufactures. The company operates facilities in Stoney Creek, Ontario, Selkirk, Manitoba, and Adrian, Michigan.
“This opportunity aligns with Opta’s growth strategy by enhancing our capabilities and potential to reach new customers and markets,” says Nicholas Lardo of Speyside Equity.
Avon Machining has announced the acquisition of Plasma-Tec on October 21, 2019. This opportunity is aligned with Avon Machining’s growth strategy by enhancing our capabilities and expanding into new industries.
Avon Machining is a leading manufacturer of large, complex, precision parts for the Aerospace, Defense, Construction, Mining, Energy, and Agriculture industries in North America and beyond. As a Tier 1 supplier to OEMs, Avon Machining will collaboratively engineer and provide the part solution that maximizes long-term reliability, durability, and overall cost effectiveness for its customers.
”As a reliable, cost-effective domestic source for high-quality precision parts, we look forward to expanding the strong relationships Plasma-Tec has built over the past 38 years with several leading OEMs.
Chad FietsamCEO for Avon Machining
Avon Machining, a portfolio company of Speyside Equity, acquired the assets of Avon Gear in May 2017. Avon Gear was founded in 1974 in a 10,000 square foot building in Rochester, MI. Throughout the years, Avon Machining has expanded its manufacturing footprint, increasing to the current 110,000 square foot facility located in Shelby Township, Michigan. Avon Machining was named by the Detroit Free Press as a Top Workplace in 2018.
Speyside Foundry Holdings, a portfolio company of Speyside Equity Fund I LP, announces the acquisition of Hazleton Casting Company and Weatherly Casting and Machine Company. Hazleton Casting Company is located in Hazleton, PA, and Weatherly Casting and Machine Company is located in Weatherly, PA. Both transactions were completed on 6/12/2019.
Hazleton Casting Company is a steel foundry specializing in alloy steel casting. The Hazleton facility has operated continuously since the early 1900s. The company has multiple induction furnaces, simulation software, and in-house 3-D printing to provide customers with a range of technical capabilities and the ability to cast, machine, assemble, and test large complex products.
Weatherly Casting and Machine Company, a sister company to Hazleton Casting Company, is an iron and iron alloy foundry specializing in very large castings. Weatherly provides machining services along with other value-add services such as laboratory and non-destructive testing.
”Hazleton and Weatherly offer a fuller suite of solutions, both alloys and capabilities, for our existing portfolio foundries Sawbrook and Ashland.
Kevin DaughertyManaging Director
As the industry has been consolidating in North America over the past several decades, Speyside strives to provide customers with high quality, dependable, and sustainable long-term partnerships.
