OAKBROOK TERRACE, IL – January 31, 2017 –Prairie Capital Advisors, Inc. (“Prairie”), a leading corporate finance advisory and investment banking firm, is pleased to announce that the United States based stainless steel plate operations of Outokumpu Oy have been acquired by management and D’Orazio Capital Partners, LLC and renamed New Castle Stainless Plate, LLC (“NCSP” or the “Company”). Prairie acted as the exclusive financial advisor to management and D’Orazio Capital Partners in the purchase of the Company from the Finland based parent.
After more than 45 years of Nordic ownership, management negotiated the purchase of the New Castle, Indiana based quarto plate stainless steel mill and business operations and returned the Company to American ownership. The new Company, NCSP, is recognized for producing world-class specialty and standard grades of stainless steel. Its end markets include infrastructure, transportation, power generation, heavy chemical industries and the oil & gas sector. The Company, which employs 112, will continue to be based in New Castle, IN and will be managed and owned by the same successful senior management team that ran the business for the parent company.
Working closely with the management team, Prairie assisted in negotiating the Letter of Intent with the parent, structured and arranged the equity capital, and helped close the transaction. Prairie’s transaction team included Terrel Bressler, Managing Director and Matthew Drake, Vice President. “Prairie was instrumental in developing the deal investment thesis and approaching an array of Family Office and Private Equity investors. Their vast network of equity sources and strong ability to explain the investment opportunity was critical to the successful completion of the transaction,” said Mike Stateczny the NCSP President. “The Prairie team worked tirelessly and managed the transaction quickly and professionally,” said Kevin Keeley, the CFO of the Company. “The Prairie team introduced us to D’Orazio Capital Partners, an investor that shares our vision for the Company and will be an outstanding financial partner to help NCSP grow and prosper as an independent entity.”
About Prairie Capital Advisors
Prairie offers investment banking, ESOP advisory and valuation services to support the growth and ownership transition strategies of middle-market companies. Headquartered in Oakbrook Terrace, Illinois with offices in Atlanta, Boston, Chicago, Cedar Rapids and Louisville, the company is a leading advisor to closely-held companies nationwide. For more information, visit www.prairiecap.com.
Wendy Gugora, Marketing Manager
Prairie Capital Advisors, Inc.