Radnor, PA, September 8, 2016 – Milestone Partners is pleased to announce that its portfolio company PPHC completed the acquisition of Fleetwood Metal Industries, Inc. on August 30th.
Fleetwood is a Windsor, Ontario-based provider of complex metal stampings, assemblies and tooling to automotive OEMs and Tier 1 suppliers. Fleetwood specializes in stamping ultra-high-strength steel components and offers other value-added services such as assembly and e-coating.
Partner David Proctor commented, “Fleetwood is a highly complementary acquisition that further diversifies our auto sector investments.”
M&T Bank led the senior debt financing in the transaction and LBC Credit Partners provided subordinated debt. Drinker Biddle provided legal representation to PPHC.