June 7, 2021
Ironform included in the The Fabricator's 2021 FAB 40 list and feature on ecomonic recovery: Metal fabricators keeping pace during a booming recovery
November 18, 2020
SF Tube – Ironform Press Release
Ironform Holdings, Co. (“Ironform”), a Chicago-based metal fabrication company with facilities in Texas, Missouri, Virginia, Washington and Illinois, announced the acquisition of SF Tube Pipe & Bending, Inc. (“SF Tube” or the “Company”) on Friday November 13, 2020.
SF Tube is an industrial manufacturer specializing in bending and fabrication of metal tubing primarily providing complex tubular welded assemblies to leading manufacturers in transit bus, aviation and defense industries. SF Tube was founded in 1987 and is headquartered in Hayward, CA.
“SF Tube has built an impressive reputation as a trusted tier 1 supplier in the metal fabrication industry and is well positioned to enhance Ironform’s tube fabrication capabilities” said Terry Wogan, CEO of Ironform. “Our goal is to continue to build on the customer relationships while leveraging our Lean operating model.”
About Ironform: Ironform’s seven manufacturing facilities offer redundant machine capacity in light and heavy fabrication, large format stamping, assembly and custom sequencing. All served by a seamless enterprise IT platform and unified Standard Work protocols. With the largest Engineering staff in the business, Ironform offers fast business quotation turnaround and unparalleled and scalable launch capability. For more information, please visit: www.ironform.com.
November 9, 2020
COVID-19 Safety and Health Update
As employees begin to return to facilities, we are taking measures in order to protect our employees. We have implemented procedures to help keep employees safe when they arrive, while they work and when they leave the facilities. When employees arrive to work, they will maintain a physical distance of six feet from other people, sanitize their hands, wear a provided face mask, answer a simple COVID-19 questionnaire and have their temperature screened.
In addition, we have ramped our cleaning, disinfecting and sanitizing efforts to ensure a safe environment for our employees. We will monitor the situation, adapt accordingly and make any changes to policy in accordance with scientific data and guidance from national and international health organizations.
We are committed to doing everything we can to protect our employees, their families and the community.
November 9, 2020
Ironform Shows Commitment to Safety by Becoming a Member of the National Safety Council
Chicago, IL – On June 11, 2020, Ironform became a member of the National Safety Council, underscoring the company’s commitment to the safety of its employees from the workplace to anyplace. Ironform shares the National Safety Council mission to eliminate the leading causes of preventable death and injury, focusing on the roadway, emerging issues and the workplace, where fatalities are on the rise.
“National Safety Council members share an unwavering commitment to making people’s lives safer on and off the job. We are proud to count Ironform among our membership and look forward to working alongside them to save lives, from the workplace to anyplace.” – Ingrid Schoen, Senior Director, Membership, National Safety Council
Visit nsc.org/membership for additional information.
About the National Safety Council
The National Safety Council is America’s leading nonprofit safety advocate – and has been for over 100 years. As a mission-based organization, we work to eliminate the leading causes of preventable death and injury, focusing our efforts on the workplace, roadway and impairment. We create a culture of safety to not only keep people safer at work, but also beyond the workplace so they can live their fullest lives.
November 9, 2020
Environmental Management System Update
The focus of Ironform’s environmental management system is continuous improvement of three environmental objectives: waste management, reduction of natural resources consumed and effective conservation of energy.
Eliminating waste and recycling by-products from our production processes are key performance indicators used to monitor the progress of our environmental objectives and measure our environmental performance.
Aspects of our EMS include energy awareness driven by management; providing necessary resources for the achievement of environmental objectives; periodic evaluation of processes, the use of energy and energy consumption and procuring energy-efficient products and services.
Ironform manufacturing locations are certified to the international ISO 14001 environmental management standard which drives performance through more efficient use of resources and the reduction of waste.
November 2, 2020
IATF Surveillance Audits
The Imperial Group locations in Dublin, Virginia and Chehalis, Washington completed their surveillance audits to IATF16949:2016 in September, 2020. IATF16949 is an International Automotive Industry standard for the business’s Quality Management System. This concludes the 3rd party audit cycle for Ironform in 2020. All Ironform manufacturing locations successfully passed their IATF surveillance audits with the registrar.
January 10, 2019
Ironform Chehalis, Washington
Ironform has initiated, engineered and completed a total plant re-alignment of our Chehalis, Washington facility. This re-alignment was designed and established to streamline the flow of our manufacturing processes with an ultimate goal to improve the quality of our product delivered our customers and increase capacity.
The investment from Ironform of $500K included the re-alignment of all work centers throughout the manufacturing process from raw material delivery to final assembly in a single piece flow.
Investments in a final weld manipulator along with material handling carts and devices have proven to be huge assets to assist our Washington floor associates to accomplish their goal of quality and on time delivery improvements.
December 12, 2018
Ironform Moves to #2 on The Fabricator Fab 40 List
The FAB 40 list is created with the help of those metal fabricators willing to share their revenue numbers and company information with The FABRICATOR and its readership.
These companies that submitted responses were then ranked according to self-reported 2017 revenue. Because most, if not all, companies are privately held, independent verification of reported revenue was not possible.
For more information, or if your company would like to be included in the 2019 FAB 40, please contact Senior Editor Tim Heston.
November 27, 2018
Detroit Tool Metal Products Hosts Company Picnic
Detroit Tool Metal Products hosts an end of summer company picnic. Over 400 employees and family members enjoyed food, games, bounce houses and the biggest attraction a dunk tank. Employees lined up to get their shot at dunking Plant Manager Ronny Berry while he taunted everyone wearing a rival football team jersey. Employees enjoyed the relaxed atmosphere and being able to introduce their families to their coworkers. This was a successful event and we appreciate the dedication and hard work of each of our employees.
November 20, 2018
Texas Weld Training
Ironform’ s Decatur, TX facility has partnered with the Workforce Education sector of Weatherford College in order to provide hands on weld training for current and future employees. This new program, designed specifically for Ironform employees will provide TIG welding instruction through a hands-on learning experience designed to complement employees existing skills in MIG welding. The program kicked off on November 13, 2018 and is being offered at no expense to the employee, as Ironform is paying for all tuition and materials needed. Ironform will also be donating scrap Aluminum to be used as practice material in all of the welding courses offered at Weatherford College.
September 28, 2018
IATF Transition Announcement
Ironform has successfully transitioned all six of their facilities quality management systems from the outgoing TS16949:2009 technical standard to the new IATF 16949:2016 standard this year. The first to achieve the requirements of the new standard was complete in January was our teams in Decatur and Denton, Texas. Soon after, the Detroit Tool and Metal Products facilities in Lebanon, Missouri achieved certification in May of this year. In the 3rd quarter of 2018, the Dublin, Virginia and the Chehalis, Washington facilities both joined the ranks of having the IATF 16949 registration certificate from Ironform’s 3rd party registrar. Ironform is pleased with this achievement because it supports their continued mission to meet and exceed customer expectations in all areas of the business.
June 21, 2018
Ironform Develops Multi-tiered Training Strategy
Ironform has partnered with local Technical Community College’s to establish formal training programs for existing talent and to build a pipeline of future skilled workers. The partnerships are part of Ironform’s comprehensive portfolio of professional development and training course offerings designed to develop the skills and competencies needed to excel in manufacturing. The partnerships are unique in that the curriculum was developed by a planning team consisting of expert Instructors from the Technical Colleges as well as a Core team from Ironform. Together, new certification programs “Manufacturing Technology Certificate” were created. The Manufacturing Technology Certificate programs are a 31 hour college credit certification consisting of six core classes and two elective classes. The classes are held at the colleges in a cohort fashion and are open to all students attending the college. Although the programs are geared toward newly hired employees, all employees of Ironform are welcome to attend as employee development is always encouraged. Ironform pays for the cost of all classes, books and seat times for all employees in the program.
Ironform has also developed an On-Boarding Employee Training program geared at increasing newly hired employees understanding of the measurements and blueprints they will use on the production floor. Ironform has contracted with an instructor from the Center of Workforce development sector of a Technical College that provides standardized employee development training for all Ironform facilities. New employees of Ironform will partake in three separate training classes: measurement training; basic blueprint reading; and advanced blueprint reading. The On-boarding Employee Training program is an important component to ensuring a supply of
trained and capable workers.
Ironform’s vision of developing a skilled workforce is making its mark on one local community. The Lebanon Regional Economic Development Committee along with the City Administrators Office has gathered key Manufactures in the area to participate in an open dialogue in hopes of creating an area workforce training program centered on the Ironform certification model. The manufacturing environment is changing dramatically as is the demand for high-skilled manufacturing talent. This community is working together to yield the necessary impact on the supply of well-trained workers.
June 12, 2016
Lean, Large, and Keeping Pace
Ironform Shows Lean Manufacturing’s Potential in Metal Fabrication
Terry Wogan is a self-proclaimed “automotive operations guy.” He spent three decades managing automotive transmission plants that had embraced lean manufacturing for years. He had some metal fabrication experience in 2000, but in 2010 he took a consulting opportunity with a large custom metal fabricator in Ohio. Then he noticed how long the changeover times were.
“I realized that fabrication businesses are extremely sensitive to lean tools, because their changeover times are so long,” Wogan said. “When you shorten the changeover, you have this leveraged effect where it shortens the manufacturing cycle time, reduces the amount of inventory, and reduces batch sizes, and you can eliminate a lot of premium costs.”
The traditional view in metal fabrication is that long changeovers are just the nature of the beast. This is a make-to-order industry. Fab shops run large batches to increase machine uptime and reduce the number of changeovers. Sure, they may have to break into a large job to handle expedites, but again, that’s the nature of the custom fabrication beast. Fires are bound to break out; those who fight them best win.
Wogan doesn’t hold this view. In 2010 he saw a market in which construction, agricultural equipment, trucking, and other OEMs experienced continually changing levels of demand, and a host of small fab shops had trouble meeting those demands.
“By using lean tools, we can reduce lot sizes and run as close as possible to what the customer produces in a day,” Wogan explained. “Cycle time equals takt time.” That is, the pace of manufacturing at a fab shop should change to match the pace at the customer.
This idea ultimately led to Chicago-based Ironform Corp., an 800-employee, $200 million contract fabricator with seven locations across the country. The company formed in 2013 as a result of two acquisitions: Lebanon, Mo.-based Detroit Tool Metal Products (DTMP) and Denton, Texas-based Imperial Group LP, with additional locations in Decatur, Texas; Portland, Tenn.; Dublin, Va.; and Chehalis, Wash.
Wogan, Ironform’s president and CEO, added that this isn’t a simple story of scaling up the metal fabrication business through acquisition. It’s instead a story about just how dramatically lean tools can change metal fabrication for the better—and about how well those tools can be used to serve OEMs on a large scale.
An Investment Thesis
After his epiphany in 2010, Wogan reached out to Dani Goldsmith, a colleague from the automotive sector with private equity experience, and Marty Kozarec, a 30-year sales veteran in the fabrication sector. The three scrutinized an investment thesis that essentially touted the untapped benefits of lean manufacturing in the metal fabrication space.
With thesis in hand, they set out looking for private equity partners, met with five, and were offered investment money from all of them. In the end, they chose Chicago-based Wynnchurch Capital.
“We were very thoughtful about why we partnered with them,” Wogan said. “Wynnchurch is a PE firm that specializes in middle-market manufacturing. They were very quick to grasp our thesis. And the firm also has no timeline. They are long-term investors. There’s no clock running on the wall.”
Wogan and his team had a busy summer in 2013. In June they purchased DTMP, a company that had a mix of large customers in agriculture equipment, trucking, and mining. In August they bought Imperial from Accuride Corp., a publicly traded firm best known for its truck wheel manufacturing. The Imperial operation was also tied heavily to trucking, but it specialized in precision metal fabrications, stampings, and assemblies.
Since 2013 sales in the trucking sector have reached record levels, while many agricultural and construction equipment markets have seen better days. This customer mix, as it turned out, has served Ironform well. Trucking has driven revenue growth, but Ironform also has been winning more bids for new (albeit low-volume) work from agricultural equipment customers. Eventually Ironform managers expect those orders to ramp up to major projects once the agriculture market recovers.
What the Customer Needs—Today
When fabricators tackle lean manufacturing, many consider 5S a good place to start. Wogan has a different perspective. He doesn’t see anything wrong with 5S, but he actually views it as more of an effect than a cause of improvement. If you implement the core lean tools correctly, 5S happens almost automatically.
So how does a contract fabricator implement these core lean tools? The traditional way is to show people how to look for so-called “waste”: excessive movement, overproduction, and so on. But Wogan approaches lean with a statement that really gets to the heart of the matter and focuses on the customer, both external and internal (that is, the next manufacturing step).
“Try to make what the customer wants today, and discover why you can’t,” he said. “That creates the opportunity for continuous improvement.”
Custom fabrication (along with most of U.S. manufacturing) is full of variability, with different products, volumes, demand levels, shop routings, and more. Many operations absorb variability with finished-goods inventory. Others absorb it with more time, like a four- to six-week lead time. Nevertheless, the job itself may have just a few hours of value-added time in which parts are actually cut, bent, coated, and assembled. All that extra time the job spends waiting to be released, waiting for material or sourced components, waiting as WIP in front of a work center. Put simply, there’s a lot of waiting.
Ironform takes a different approach. The company has little finished-goods inventory. It absorbs variability instead with its raw stock inventory. Even here, though, the company carries less raw stock inventory than it did three years ago. Managers analyzed the product mix, studied the material usage patterns, and reduced inventory levels for less-used sheet and plate. Using another common lean tool, the company delivers and stores much of the sheet stock near the point of use, such as within steps of the laser cutting machines themselves.
Employees don’t deal with expedites. They don’t manage massive cut lists and aim for maximum material utilization by dynamically nesting and looking out ahead in the schedule, filling the space in the sheet with future orders. Laser operators still may group different jobs on one sheet, but all those jobs are due immediately. This makes life easier for material handlers who sort cut nests and move parts to the press brakes.
At the press brakes, operators receive a list of jobs that need to be completed by the end of the shift, as posted on screens populated by Ironform’s enterprise resource planning (ERP) software. The company doesn’t use the software for scheduling. Instead, the ERP simply displays what employees need to know for the workday: that is, what jobs are due that day.
Scheduling usually doesn’t go down to the machine level. For instance, in the forming department, jobs don’t have press brake-specific routings. Instead, jobs are split by whether a part can run on all machines (simple part that uses common tooling); some machines (part of medium complexity that may require special tooling or gauging); or a specific machine (job requires special tools and/or machine gauging).
The supervisor and operators work together to determine the best sequence and how to schedule work through the department. As Wogan explained, it goes back to asking that simple question: “What do I need to do to finish these jobs today successfully?”
Wogan conceded that the company does not achieve the material utilization it might if it dynamically nested a week or more into the schedule. But any additional money Ironform spends on material is far outweighed by the benefits of cutting on demand—just what’s needed for the day.
Besides, dynamically nesting beyond what’s needed to satisfy immediate customer demand would go against the fabricator’s driving philosophy: to match the customer’s pace (takt) of manufacturing.
Driving this is the customer due date. At Ironform, if you see a subassembly on the shipping dock, it was probably in the assembly department the day before, coating and paint prep the day before that, welding the day before that, bending and laser cutting the days before that.
Aside from plating, Ironform outsources few processes, which gives the shop more scheduling control. Ultimately, when a part is placed on the loading table for laser cutting, it will likely be on the loading dock within two weeks or less.
All this wouldn’t work without significant data analyses on the front end, what Wogan called Ironform’s “secret sauce.” The fabricator analyzes all SKUs and identifies similarities, such as material type, thickness, geometry (including the tooling that geometry will require), complexity (piece part versus large assembly), order volumes, and how consistently the orders come in the door.
If a job reaches a certain volume, it may make sense to build a hard tool for the stamping press (if, of course, the sheet type, thickness, and geometry make sense for stamping). If a job reaches a certain volume and order consistency, it may make sense to develop a cell, which in turn shortens lead times even further.
For instance, in Denton, Ironform has a multiprocess cell that produces parts for a nearby truck manufacturer. “Lead times are minimal,” said Mike Wogan, operations controller (and Terry Wogan’s son). “We usually get an order that tells us what’s due for the week, and we react in a few days.”
The scheduling strategy apparently is paying off. According to sources, Ironform’s on-time delivery rate well exceeds 95 percent, significantly above the industry average. In the past few “Financial Ratios & Operational Benchmarking Surveys” from the Fabricators & Manufacturers Association International, on-time delivery rates in this business have averaged between 85 and 87 percent.
Since 2013 Ironform has made significant equipment investments, and all of it is driven by the company’s approach to lean, including standardized work. The company has purchased eight new lasers since 2013 and almost a half-dozen new press brakes. It has also spent millions rebuilding and upgrading its stamping presses, all of which have modern, standard controls.
Every laser is the same brand with identical controls. The same is true of Ironform’s new press brakes. And the same applies to the company’s high-density plasma cutting tables. Across the organization, quality assurance technicians use the same inspection arms with the same software.
Ironform is also standardizing capabilities across its seven plants. Certain plants do have specialized equipment and areas of expertise that were there before the Ironform acquisition. For instance, its Virginia plant has extensive tube cutting and bending. But in general, each plant has similar capabilities to serve the local customer base.
With standard equipment and plant capabilities, Ironform has centralized its engineering in what it calls its “technical services group,” from which 70 engineers can be deployed wherever needed across the organization.
When fabricators talk about lean manufacturing, they often talk about getting employee buy-in. Terry Wogan said that, at Ironform at least, buy-in really hasn’t been an issue. This was especially true for front-line workers, who tended to be the first to appreciate the benefits of lean. No longer are they running around to put out fires. They get a to-do list for the day and get the job done.
Wogan added that Ironform has been paying for its employees to attend nearby community colleges, including Missouri’s Ozarks Technical Community College in Springfield, to obtain certificates in manufacturing. These aren’t night classes either. Ironform pays them to attend during the workday.
A large company size also brings with it career opportunities. The fabricator has hired or promoted almost 100 people over the past three years—those who have bought into Ironform’s brand of lean. “We’ve given prime management opportunities to people who have been with these companies a long time,” Mike Wogan said. “There’s a deep knowledge there.”
A Bigger Future
Terry Wogan said that they are looking for additional companies to acquire, adding that Ironform may buy at least one more company in the next 12 months.
Over the long term, company leaders are seeing big changes ahead. They see metal fabrication, especially those companies that serve large OEMs, as an area of industry ripe for consolidation.
Mike Wogan put Ironform’s goal simply: “The ultimate goal is to grow to become the largest metal fabricator in the world.”
October 26, 2015
Detroit Tool Metal Products (DTMP) Expands Capability & Capacity In Missouri
Ironform’s Detroit Metal Tool Unit (DTMP) is building a 42,000 square foot addition to its Bethel Street plant in Lebanon, Missouri to house new coatings lines. The new Powder and E-Coat lines are required to meet rising customer demand and will provide DTMP and its customers with marketing leading manufacturing lead-times and cost advantages. DTMP is investing $ 4 M for the project and will create 30 new jobs when completed.
The E-Coat line features a 9 stage pretreatment system with acid pickle a large part window measuring 3’W x 6’7” D x 11’6” L and a throughput capacity of 33,000 lbs. of parts per hour.
The Powder Coat line has a stainless steel 5 stage pretreatment, a part window measuring 4’L x 5’H x 10’. Line capacity is 20,000 lbs. of parts per hour.
DTMP has the broadest fabrication capabilities in the mid-west and is a Tier 1 supplier to the Agriculture, Industrial and Transportation markets.
January 12, 2015
Ironform Earns CAT 7 Steps Weld Excellence Award
Detroit Tool Metal Products (DTMP), an Ironform Company, has recently been certified by Caterpillar Global Purchasing for DTMP’s completion and adherence to the Caterpillar 7 Steps to Weld Excellence (7SWE) standard. By achieving 7SWE certification, DTMP has demonstrated excellence in welding process control through the development and implementation of;
A quality management system for welding operations
Certification procedures for the three critical elements of welding – people, processes, and equipment
Continuous improvement processes
The use of best practices and improved reliability by standardization
Continued quality performance by embedding welding into the DTMP APQP process and by using Layered Process Audits
The achievement of 7SWE certification by DTMP is a significant event and distinguishes that DTMP has indeed achieved excellence in welding and has met rigorous standards to become world class.
November 18, 2014
2014 Caterpillar North Little Rock Supplier of the Year Award
Ironform’s Detroit Tool Metal unit was awarded the Caterpillar North Little Rock 2014 Supplier of the Year award on November 18, 2014 at the Little Rock, Arkansas Windham Conference Center.
This award was received by Kent Wine, National Sales Manager (Ironform), and Ken Horton, Quality Engineer (Detroit Tool Metal Products) by a host of Caterpillar executives from their Global Purchasing Division and The North Little Rock Facility.
Detroit Tool Metal Products led the field of approximately 315 suppliers to the North Little Rock facility, with measured delivery performance of 100% on time, and 0 PPM quality rejects.
Detroit Tool Metal Products was the recipient of the 2013 Most Improved Supplier award.
July 30, 2014
The Fabricator’s 2014 Fab 40
The FAB 40 list is created with the help of those metal fabricators willing to share their revenue numbers and company information with The FABRICATOR and its readership.
These companies that submitted responses were then ranked according to self-reported 2013 revenue. Because most, if not all, companies are privately held, independent verification of reported revenue was not possible.
#4 Imperial Group Manufacturing, an Ironform Holdings Co.
2013 Revenue: $118 million
Projected 2014 Revenue: $112 million
Headquarters: Decatur, Texas
Company Locations: 5
Services: Assembly, Bending, CNC Machining, Laser Cutting, Liquid Paint, Punching, Shearing, Stamping, Welding
Markets Served: Agriculture, Construction, Power Generation, Transportation
#6 Detroit Tool Metal Products, an Ironform Holdings Co.
2013 Revenue: $66 million
Projected 2014 Revenue: $71 million
Headquarters: Lebanon, Mo.
Company Locations: 2
Services: Assembly, Bending, Grinding, Laser Cutting, Liquid Paint, Machining, Plasma Cutting, Punching, Shearing, Stamping, Welding
Markets Served: Agriculture, Construction, Mining, Rail, Transportation
February 27, 2014
Ozarks Technical College and Ironform-DTMP Will Train New Employees in Lebanon Plant
Ozarks Technical Community College and Ironform-DTMP in Lebanon are teaming to launch a new certificate program designed to train area workers who are looking for a career with the full-service manufacturer of precision metal stampings, fabricated components and value-added assemblies.
With the program, offered through the OTC Lebanon Center, DTMP will invest in training that will give their current and future workforce the skills necessary to excel in their careers.
“Here at DTMP, we value our employees and believe that they are our greatest asset. We are continuing to grow and are looking to hire hard working individuals seeking long-term employment,” Angie Hendrix, Human Resource Director for DTMP.
Brian Harlan, plant manager at DTMP, added, “We are excited to partner with OTC and we believe this program will help take us to the next level and be one of the leading employers in our industry.”
New hires at Ironform-DTMP will be trained in a variety of areas. Those areas include industrial safety, print reading for manufacturing, applied technical math, mechanical dimensioning and manufacturing processes. These classes are all accredited college classes and once the employee has completed the certificate program, they will be halfway through an Associate’s Degree.
When asked about the impact of the program, Mark Stombaugh, President of Lebanon Regional Economic Development, Inc. commented: “DTMP is investing in one of the critical areas of success, the development of a highly qualified team. We are really excited about the great partnership that has been developed here with DTMP and OTC. The certificate program will have broad reaching applicability in this community and throughout our workforce. OTC continues to bring additional, focused, educational opportunities here to their Lebanon campus. They really are a tremendous asset to this community”.
Ironform-DTMP will be sending their new employees through the Certificate program at OTC beginning in March 2014. The training is also open to other Lebanon area employers with similar training or education needs.
Sherry Coker, director of OTC’s Center for Workforce Development, said the program focuses on preparing the workforce with a variety of skills.
“These are fundamental skills and eventually the program will shift in teaching more specialized skills,” she said. “The training offers workers the skills they need to hold a well-paying, in-demand job.”
Copyright Schurz Communications 2014
January 26, 2014
Ironform-DTMP Wins Most Improved at Caterpillar Supplier Conference
We are very proud to announce that Ironform-DTMP won the “Most Improved Supplier Award for 2013” at the recent Caterpillar Supplier Conference.
Ironform-DTMP had 100% on time delivery and 228 quality PPM, the supply base average was in the area of 1,200 PPM.
The best in quality went to a supplier with 100 PPM. Let’s build on this award and know that each step we take towards improving our quality processes is one step closer to the “Best in Quality” award.
August 14, 2013
Wynnchurch Capital Acquires Imperial Group, L.P.
Wynnchurch Capital (“Wynnchurch”), a Chicago-based private equity firm with offices in Detroit, Toronto, and an affiliate office in Montreal, announced the acquisition of Imperial Group, L.P. (“Imperial” or the “Company”) from Accuride Corporation (NYSE: ACW), in partnership with BMO Mezzanine Fund and a management team led by Chief Executive Officer Terry Wogan. Imperial is a leading metal fabricator supplying light and medium gauge fabricated metal components, precision metal stampings, and value-added assemblies serving premier heavy truck, bus, and industrial OEMs. Imperial has operations in Portland, Tennessee, Decatur, Texas, Denton, Texas, Dublin, Virginia, and Chehalis, Washington. “Imperial has built an impressive franchise in the metal fabrication industry and is well positioned to take advantage of the anticipated recovery in its end markets. Our goal is to help transform the company into a world-class supplier and a value-added partner to our customers,” said Ian Kirson, Managing Director at Wynnchurch. The Imperial investment follows Wynnchurch’s acquisition of Detroit Tool Metal Products, Co. (“DTMP”), which was completed in June 2013. The combined business forms one of the largest metal fabricators serving the heavy truck, bus, and off-highway markets in North America. Imperial and DTMP will operate as subsidiaries of Ironform Holdings Co. (“Ironform”). DTMP and Imperial will continue to do business using their respective brand names under the Ironform umbrella. John Hatherly, Managing Partner of Wynnchurch stated, “Imperial represents the tenth corporate carve-out transaction in Wynnchurch’s history. We are excited to continue to build the Ironform platform with the highly complementary acquisition of Imperial. Wynnchurch is proud to partner with Terry Wogan and his team to build a metal fabrication business with best-in-class quality, delivery, and customer service.”
“Terry and Wynnchurch have a shared vision for Ironform and both recognize that we can only be successful by providing our customers with outstanding execution,” said Brian Crumbaugh, Vice President with Wynnchurch. Wynnchurch intends to continue to pursue strategic acquisitions and build a unique fabrication platform with industry leading capabilities and a presence in the Midwest, South, Southeast, and West Coast. “Imperial provides Ironform with a presence in key geographic regions in proximity to industry leading OEMs. We will focus our efforts on flawless execution and customer service. We aim to create the supplier of choice in this industry and the long-term partner our OEM customers are seeking,” added Terry Wogan. The transaction closed in August 2013.
Senior debt financing for the transaction was provided by Regions Business Capital. Lindquist & Vennum LLP served as legal counsel to Wynnchurch.
About Imperial Group:
Denton, Texas based Imperial Group is a leading, full-service manufacturer of precision metal stampings, fabricated components and value-added assemblies for the heavy truck, bus, and industrial end-markets. For more information, please visit: .
About Wynnchurch Capital:
Wynnchurch Capital, headquartered in the Chicago suburb of Rosemont, Illinois with offices in Detroit, Toronto, and an affiliate office in Montreal, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch focuses on investments in niche manufacturing, business and industrial services, energy and power services, logistics, transportation and value-added distribution. Wynnchurch manages a number of private equity funds with capital under management in excess of $1 billion specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital. For more information, please visit: www.wynnchurch.com.