Managers Complete Miller & Co. Buyout

Dec. 28, 2003
Raw materials supplier sold by German parent

Senior-level managers of Miller & Co. have completed their buyout of the company from Stinnes Corp., which had owned Miller since 1977. Miller, Rosemount, IL, is one of the leading supplier of iron and steelmaking raw materials.

According to the company, Stinnes was purchased late in 2002 by the German railway authority Deutsche Bahn. DB’s plan was to keep the group’s logistics business but sell off various other subsidiaries it regarded as non-essential. Among these holdings was Miller & Co.

Miller & Co.’s managers decided to buy the company based on their confidence in its business model and its longstanding position in the domestic manufacturing field