ABINGDON, VA / BIRMINGHAM, MI – Colfax Creek Capital formed Premier Engineered Products, LLC (“Premier”) to recapitalize Appalachian Cast Products (“ACP”) and to integrate the production of Premier Die Casting into its facility in Abingdon, VA.
Premier Engineered will be led by Mike Ryan as President and CEO in conjunction with the existing ACP management team. “Premier will expand its position in aluminum die casting, while making further investments in new operational capabilities, including value-added machining, to accelerate growth,” Ryan said. “Our focus on operational improvement will benefit our customers as we continue to enhance our cost-effectiveness and delivery in the industry.”
“I am pleased to partner with Mike Ryan and the Premier/ACP team. Mike has been around the die casting business for much of his career and has a good operational team in place at ACP,” said Jason Duzan of Colfax Creek. “We are focused on leveraging ACP’s operational capabilities to serve Premier Die Casting’s customers and to expand machining operations to better serve its existing and new customers. With this recapitalization, we have provided Mike and the team with the capital necessary to expand its operations into further machining and to take advantage of growth opportunities within the industry.”
Mike Ryan, CEO of Premier, added, “Jason Duzan at Colfax Creek has been a long-time business relationship and Premier provided us a terrific opportunity to team up to build a business platform in the aluminum die casting and machining industry. The integration of Premier Die Casting’s customer’s production not only added significant additional sales but also new value-added capabilities to provide our customers. The Premier team and I are realistic about the challenges of the business integration, but we are also excited about the benefits to our expanded customer relationships.”
Colfax Creek is a private investment firm that takes a long-term approach to investing in smaller middle market companies. The firm invests in consumer product, service, and industrial companies in the Great Lake States. We prefer to support existing management in control investments, but we will support limited management transitions. Colfax Creek is based in Birmingham, MI. For more information visit: www.colfaxcreek.com.
About Premier Engineered Products
Premier Engineered Products through its operating subsidiary, Appalachian Cast Products, produces superior die cast parts and tooling, along with metal finishing and CNC machining through state of the art machinery and processes. Specializing in aluminum and zinc alloys, engineers and production staff develop a high pressure die casting process that produces economical parts with reliable quality. The business is headquartered in Abingdon, VA. For more information visit: www.appalachiancast.com.