Evergreen Advisors Capital, a middle-market investment bank, announced today that it advised Valley Forge Acquisition Corporation (“Valley Forge”) on its sale to STS Metals, Inc. (“STS Metals”), a portfolio company of Tinicum.
Headquartered in Azusa, California, Valley Forge is a leading producer of titanium and specialty stainless steel alloys for mission-critical military programs within the aerospace and defense industry. Valley Forge’s capabilities include open die forging, cutting, grinding, ring rolling, heat treating, and ancillary forging services.
“Valley Forge achieved its objectives and transacted with an ideal partner. We expect the combination of capabilities and resources will provide next-level service to our customers. We are looking forward to working with the STS Metals team on the next stage of Valley’s evolution,” said CEO of Valley Forge, Mike Holmes.
“The history of working with STS Metals goes back several decades, sharing mutual values of customer support and commitment to quality delivery. I, along with the entire Valley Forge team, am excited to work together with STS Metals to continue Valley Forge’s role as a leading critical player in the rapidly evolving aerospace and defense markets supply chain,” said Brian Misak, President of Valley Forge.
“The combination of Valley Forge and STS Metals creates a formidable and dominant provider in titanium forging. It was a pleasure to work with the leadership teams of Valley Forge, STS Metals, and Tinicum on this mutually beneficial transaction,” said Sam DiPaola, Managing Director, Evergreen Advisors Capital, and President, Evergreen Advisors.
“We are excited to acquire Valley Forge, as it is well matched with our business model and the other operations that make up STS Metals. Valley Forge shares a similar reputation with STS Metals in providing value to their customers through superior service and operational performance. This transaction will allow us to provide enhanced product breadth and expanded capacity for our products supporting the aerospace, defense and industrial industries in both North America and the rest of the world,” said David Beddome, CEO of STS Metals.
Evergreen Advisors Capital served as the exclusive financial advisor to Valley Forge and assisted in initiating, structuring, and negotiating the transaction on Valley Forge’s behalf. This transaction highlights Evergreen Advisors Capital’s sector expertise in advising industrial companies and its continued success in sell-side assignments. Venable LLP served as legal counsel to Valley Forge. Goodwin Procter LLP served as legal counsel to STS Metals. Terms of the transaction were not disclosed.
About Valley Forge Acquisition Corporation
Headquartered in Azusa, California, Valley Forge is a leading producer of titanium and specialty stainless steel alloys for mission-critical military programs within the Aerospace and Defense industries. As a Low-Rate Initial Production (LRIP) provider, Valley Forge plays a key role as an approved supplier for the largest names in the aerospace, commercial space, and defense industry and works on some of the military’s highest-profile projects. For more information, visit https://www.valleyforgeproducts.com/.
About STS Metals
STS Metals manufactures titanium, stainless steel, nickel-based and other specialty alloys for the aerospace and defense industry. The company forges and hot-rolls bar, plate, sheet and wire in sizes and shapes that enable weight and cost reduction in the aerospace supply chain. The company’s commitment to quality and service has earned approvals from leading aerospace OEMs. Currently comprised of five operating companies — Sierra Alloys, TSI Titanium, Sierra Sheet and Plate, Brown-Pacific and Brown Europe — STS Metals plans to grow by expanding its product offering, developing new customer relationships and acquiring complementary businesses. The company is headquartered near Los Angeles in Irwindale, CA (www.stsmetals.com).
About Tinicum
Tinicum manages a diversified group of manufacturing, distribution, industrial technology and specialty infrastructure companies. The firm’s heritage as good stewards of high-quality businesses dates back to the 1940s. Tinicum seeks to be a trusted partner to business owners and executives who share in a belief that long-term prosperity can be created by teams of capable, honest people working together and investing diligently to fulfil the potential of great businesses. Investments can be made in both private and public companies, with minority or majority ownership stakes, through a long-lived investment partnership that currently has $2.4 billion of committed capital. (www.tinicum.com ).
About Evergreen Advisors Capital
Evergreen Advisors Capital, LLC is a leading investment banking and corporate advisory firm focused on assisting emerging growth and middle-market companies in the areas of corporate finance, growth and exit strategies, valuations, and advisory services.
Securities transactions conducted through Evergreen Advisors Capital/Member FINRA/SIPC
