Private investment group TRM Equity acquired Elyria Foundry, Elyria, OH, recently for an undisclosed price. The seller was not identified.
Elyria Foundry is a gray and ductile iron foundry that produces parts ranging in size from 20 to 200,000 lbs., for defense projects, oil-and-gas equipment, wind energy systems, mining and mineral processing machinery, construction equipment, and similar applications.
The foundry has an affiliated operation in Greenville, PA. Hodge Foundry produces large-scale, engineered gray and ductile iron castings for critical applications in the power generation segment. This includes parts for wind turbines and coal pulverizers, along with other parts for mining and mineral processing machinery. Its specialties are large, heavy-section iron castings weighing from 3,000 to 200,000 lbs.
"The foundry industry has been under considerable pressure over the last few decades, and we have focused on the companies with unique positions and capabilities in their space,” stated Jeffrey Stone, managing director for TRM Equity. “Elyria Foundry has range to produce very large castings and the depth of technical talent to solve problems for its customers. We look forward to partnering with the Elyria Foundry team to navigate through a challenging environment and continue to be a valued resource to its customers far into the future."