US: Dynacast purchase completed
Dynacast International has completed acquisition of the Dynacast business from Melrose PLC. The purchasers are affiliates of Kenner & Company, a New York-based investment firm, together with Izurium Capital Management and a number of other institutional investors. It is a global manufacturer of small engineered die cast components with customers in the automotive safety sector, among others.
"The completion of this acquisition puts Dynacast in a strong position for growth, backed by significant investor support and ample capital. [It] will continue to operate as an independent company led by its existing management team," a company statement said.
CEO Simon Newman welcomed the change of ownership on behalf of the 3,000 employees and said: "We believe that we have significant growth opportunities ahead of us and we are excited and confident that we will execute these opportunities over the next few years."