Downer & Company Advises Hitchiner Manufacturing Company on the Sale of its Nonferrous Division
BOSTON, October 22, 2003 - Downer & Company, LLC, an international investment banking firm specializing in middle-market corporate acquisitions and divestitures, announced today that the company has advised Hitchiner Manufacturing Company, Inc., on the divestiture of its Nonferrous Division to O’Fallon Casting, LLC. Privately held and headquartered in Milford, New Hampshire, Hitchiner Manufacturing Company is the world’s premier supplier of commercial investment castings.
The Nonferrous Division of Hitchiner Manufacturing Company is one of the largest single-site nonferrous investment casting foundries in North America and produces complex, thin-walled castings using aluminum and copper-based alloys. The Nonferrous Division focuses on the production of high-quality, small-to-medium-sized nonferrous investment castings for commercial and military applications. The Division’s castings are used in many of the aircraft, helicopters, satellites, spacecraft and missiles that are produced in the United States.
Downer & Company served as the sole financial advisor to Hitchiner Manufacturing Company on the divestiture of its Nonferrous Division. The terms of the transaction were not disclosed.
About Hitchiner Manufacturing Co., Inc.
For more information about Hitchiner Manufacturing Co., Inc., or its remaining production divisions in New Hampshire and Mexico, please visit www.hitchiner.com.
About Downer & Company
Since its inception in 1975, Downer & Company, LLC, has gained distinction as a leading middle-market M&A firm focused on the execution of acquisition and divestiture mandates for international and domestic corporations and private equity firms. Downer & Company is headquartered in Boston, Massachusetts, and has offices in Paris, Dublin, Frankfurt and Sydney. Downer & Company was recognized as one of the top two middle-market M&A advisory firms of 2002 by The Mergers & Acquisitions Advisor. Downer & Company’s corporate headquarters are located at 211 Congress Street, Boston, MA 02110. For further information, visit www.downer.com.
Contact:
Paul Colone, Vice President
617.482.6200 pcolone@downer.com
Patti Harrington, Marketing Director
617.482.6200 pharrington@downer.com
