Demmer Corporation has sold its heavy fabrication operation to Loc Performance Products, Inc.
Chicago, IL and Southfield, MI – CFI USA (P&M Corporate Finance LLC) is pleased to announce that it served as the exclusive financial advisor to Demmer Corporation (the “Company” or “Demmer”) in its sale of its heavy fabrication operation serving principally the defense and aerospace industries (“HFO”) to Loc Performance Products, Inc.
Established in 2006 and based in Lansing, Michigan, HFO is a vertically-integrated contract manufacturer of large structures for heavy vehicles and equipment, primarily for the aerospace and defense industries. HFO is a leader in plate preparation, robotic welding of major structures, paint preparation and painting, and vehicle assembly and integration. HFO employs approximately 160 employees, comprised primarily of skilled welders and CNC machinists.
William Demmer, Chief Executive Officer of Demmer, remarked, “Demmer’s armor plate fabricating expertise is a great addition to Loc’s expertise in complex mechanical assemblies. Our companies have similar corporate cultures and our traditional customer base is on the upswing. This is a great move for all of us and only serves to strengthen the future for our employees and our community.”
Phil Gilbert and his team were hired to serve as Demmer’s investment banker and lead the sale process. Mr. Demmer noted, “We are extremely pleased with our choice to have this group lead the transaction process. Their ability to navigate a unique and complicated transaction and serve as trusted advisors to our team proved to be invaluable in the final outcome.”
The transaction closed on 5 June 2017.
The testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.
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Demmer Corporation sold its HFO, a vertically-integrated contract manufacturing unit specialised in large structures for heavy vehicles and equipment, primarily for the aerospace and defense industries, to Loc Performance Products, Inc.
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