Industrial behemoth Proterial and private equity specialist Monomoy Capital Partners announced a definitive agreement for Monomoy to acquire Waupaca Foundry, North America’s leading iron casting supplier. This deal marks a new chapter for the 153-year-old foundry, renowned for its high-performance castings in automotive, construction, and beyond.
Waupaca Foundry, boasting five foundries with 1.4 million tons of capacity, will continue operations under its seasoned leadership team led by Michael Nikolai. Financial details of the private transaction remain undisclosed.
“We’re thrilled to partner with Monomoy, whose operational expertise aligns perfectly with our growth ambitions,” said Nikolai. “With Monomoy’s resources, we’ll further solidify our position in key sectors like automotive and industrial machinery.”
Proterial, the company’s previous owner, expressed gratitude for their successful collaboration and confidence in the company’s future. “Waupaca has thrived under our partnership, and we’re confident Monomoy will propel them to even greater heights,” stated Sean Stack, Proterial President and CEO.
Monomoy, known for its focus on operational improvements, sees vast potential in Waupaca. “We’re eager to work alongside Waupaca’s team to unlock their full capacity and expand their reach in the Americas,” remarked Monomoy Founding Partner Dan Collin.
The deal, expected to close in early 2024, underscores the continued dynamism of the iron casting industry. Waupaca, with its rich history and Monomoy’s operational expertise, is poised to continue shaping the future of metal casting in North America and beyond.
Key Takeaways:
- Monomoy Capital Partners acquires Waupaca Foundry, North America’s leading iron casting supplier.
- Waupaca will continue operations under its current leadership team led by Michael Nikolai.
- The deal marks a new chapter for Waupaca, with plans for expansion and growth in key sectors.
- Monomoy’s operational expertise is expected to drive further success for the iron casting giant.
