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October 2018

Z Capital-Backed Premier Thermal Solutions Completes Acquisition of Al-Fe Heat Treating


Premier Thermal Solutions, a leading provider of metal heat treating services, announced that it has acquired Al-Fe Heat Treating, the largest commercial aluminum heat treater in the United States.

 

For 40 years, PTS has provided commercial metal processing services to a variety of industries, including automotive, heavy truck, energy, wire rope, heavy equipment, rail, agriculture and aviation, through its wholly owned subsidiaries, Atmosphere Annealing and NitroSteel. Since opening its first plant in Lansing, Michigan, in 1978, PTS has strategically expanded to five facilities in four locations across the Midwest.

 

"With the acquisition of Al-Fe, PTS has expanded its service offerings to include both ferrous and aluminum heat treating services. This is an important diversification of our portfolio as we expect to see substantial growth in the use of aluminum in the automotive industry as well as in a variety of other industries that we serve," said Steve Wyatt, President of PTS.

 

"In addition to its aluminum processing capabilities, Al-Fe is Nadcap certified which will allow PTS to enhance its service offerings in other end-markets such as aerospace and defense."

 

"Al-Fe is a valuable addition to PTS' product and service portfolio and we are pleased to welcome the Al-Fe team to the Z Capital family," said James Zenni, Founder, President and Chief Executive Officer of Z Capital. "Strategic growth is a core component of our investment strategy for PTS and this acquisition represents an important step in creating one of the largest commercial heat treaters with the most value-added and diverse service portfolio in the United States."

 

"We are thrilled to have closed this transaction and expect to announce incremental acquisitions over the next 12 months," said Rahul Sawhney, Senior Managing Director of Z Capital. "After carving out PTS from its prior owner in 2017, the PTS executive team, with the support of Z Capital's operational resources, solidified PTS' infrastructure, making the Company acquisition-ready. Not only does Al-Fe add incremental heat-treating capabilities, but also further strengthens the collective talent at PTS, which will be instrumental in continuing to provide superior customer service."

 

Premier Thermal Solutions was acquired by Z Capital Partners, LLC in 2017.

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