Private Equity News & Analysis

Willis Stein buys coil coater

The Chicago middle-market investor has purchased Roll Coater from publicly held ArvinMeritor for nearly $163m.

By
PEI Staff
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The Chicago middle-market investor has purchased Roll Coater from publicly held ArvinMeritor for nearly $163m.

Chicago-based middle-market buyout firm Willis Stein & Partners has purchased the stock of Roll Coater from publicly held auto-parts supplier ArvinMeritor for $162.5 million (€122 million).

Roll Coater, headquartered in Indianapolis, produces coil coating for a variety of markets, including automotive, appliance, heating and air conditioning, and transportation. The company has facilities in the cities of Greenfield and Kingsbury, Indian; Hawesville, Kentucky; and Weirton, West Virginia. It posted 2003 revenue of approximately $200 million.

Willis Stein currently has investments in 47 companies and manages approximately $3 billion in capital. Back in March, the firm agreed to buy up debt-ridden Jays Foods, a snack food maker know for its line of potato chips in the US Midwest. One week prior, Willis Stein had completed the purchase of Lincoln Snacks Company; the firm’s acquisitions are part of a broader snack food initiative.