“Strong Synergies…Important New Technical Capabilities”
Statement by Scott Kettler, Pioneer’s President & COO,
about Indianhead Plating acquisition
“We’re excited to welcome Indianhead Plating into the Pioneer family. They offer strong synergies to our service portfolio, supporting our goal of making Pioneer the leader in surface engineering solutions.”
“Indianhead reinforces our geographic position both regionally and nationally, while adding important new technical capabilities. In the Upper Midwest they are the leading functional hard chrome plating provider for mission-critical applications, offering chrome plating, extrusion roll services, cylindrical grinding, and other related processes.”
“Our two businesses already shared customers; Indianhead’s focus is agricultural, heavy equipment and general industrial markets. We also share complementary services and a common transportation link in the Upper Midwest.”
“The Indianhead division increases Pioneer’s North American workforce to more than 1,000 employees, with eleven facilities totaling over one million square feet of manufacturing capacity. This new Pioneer division will be led by industry veteran and General Manager, Levi Eckwright.”
Press Release from Aterian Investment Partners
Pioneer Metal Finishing’s Strategic Acquisition Of Indianhead Plating, A Leading Chrome Plating Company In The Upper Midwest
GREEN BAY, Wis., Jan. 11, 2021 /PRNewswire/ — Pioneer Metal Finishing, LLC (“Pioneer”), a portfolio company of Aterian Investment Partners (“Aterian”), is pleased to announce the acquisition of Indianhead Plating, Inc. (“Indianhead”).
Founded in 1978 and based in Chippewa Falls, Wisconsin, Indianhead is the leading chrome plating provider in the Upper Midwest. Indianhead provides chrome plating, roll services, cylindrical grinding, and other related processes to customers in the agricultural, heavy equipment and general industrial end markets nationwide.
John Altmann, Owner of Indianhead, “I feel this is the perfect fit for Indianhead Plating and the Pioneer team, who has grown as a strategic consolidator of market leaders in the plating and finishing industry. I believe our shared commitment to providing high quality finishes and services to our customers while maintaining a great home for our employees makes this the perfect combination.”
Daniel Krasnow, Principal at Aterian, “It is great to be partnering with the Indianhead team. They have built a great business that builds upon Pioneer’s strategy to add additional processes and capabilities across our North America footprint.”
Brandon Bethea, Co-Founder and Partner at Aterian, “Since our initial investment into Pioneer, our objective has been to acquire sizeable metal finishing businesses with differentiated capabilities in order to create a strategically unique platform in the space. Pioneer has now completed three such unique add-on acquisitions and we anticipate continuing to grow this platform organically and acquisitively moving forward. Thus far, each acquisition completed by Pioneer has been a family or founder owned business and this dynamic fits nicely within Aterian’s established practice of buying family or founder owned companies.”
Weil Gotshal & Manges LLP advised Pioneer on the transaction.
About Pioneer Metal Finishing
Headquartered in Green Bay, Wisconsin, Pioneer specializes in providing outsourced metal processing services to customers across a range of industries including industrial, medical, aerospace & defense, automotive, consumer goods and more. Pioneer has been serving its customers for nearly 75 years and offers a range of processes including anodizing, plating, adhesive & coating applications as well as delivers strategic R&D support to our customers in order to develop new coating solutions designed to solve specific customer performance challenges.
For more information, please visit https://www.pioneermetal.com
About Aterian Investment Partners
Aterian manages over $700 million of committed capital investing in industry-leading, middle market businesses. We support investments throughout an organization, from people to processes, equipment, technology and social governance, among others.
For more information, please visit www.aterianpartners.com
SOURCE Aterian Investment Partners