Oct 082013
 

Alloy Die Casting Company located in Buena Park California has Sold – MCLEAN, Va., Oct. 3, 2013 /PRNewswire/ — Gladstone Investment Corporation (NASDAQ: GAIN) (“Gladstone Investment”) announces today that on October 1, 2013, it invested $16.3 million in a combination of debt and equity to purchase Alloy Die Casting Co. (“ADC”). Gladstone Investment’s affiliated company, Gladstone Capital Corporation (NASDAQ: GLAD) participated as a co-investor by providing $7.0 million of debt and equity financing on the same terms as Gladstone Investment in support of the acquisition.

Alloy Die Casting Company was founded in 1946 and headquartered in Buena Park, CA, ADC is a manufacturer of high quality, finished aluminum and zinc castings for aerospace, defense, aftermarket automotive and industrial applications. ADC provides its customers with engineering support and custom tool design and fabrication as well as in-house machining and finishing capabilities.

“Gladstone Investment is excited to partner with ADC’s talented and experienced management team. We look forward to the continued growth of the business and building upon the success of the management team over the past few years,” said Greg Bowie, a Director, Private Finance, of Gladstone Management Corporation, Gladstone Investment’s affiliated investment adviser.

Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Gladstone Investment has paid 99 consecutive monthly cash distributions on its common stock. Additional information on this transaction can be found at www.gladstonecompanies.com.

(source: http://online.wsj.com/article/PR-CO-20131003-906560.html)

According to a news release from Gladstone Investment Corp., Alloy Die Casting in Buena Park has been purchased by Gladstone for $16.3 million in combined debt and equity.

“Gladstone Investment is excited to partner with ADC’s talented and experienced management team. We look forward to the continued growth of the business and building upon the success of the management team over the past few years,” said Greg Bowie, a Director, Private Finance, of Gladstone Management Corporation, Gladstone Investment’s affiliated investment adviser.

Gladstone Investment, located at 1521 Westbranch Drive, Suite 200, in McLean, Virginia, is one of four affiliated investment companies. Gladstone Commercial Corporation, Gladstone Capital Corporation, and Gladstone Land Corporation are the other three.

Gladstone Capital Corporation participated as a co-investor in the purchase of Alloy Die Casting.

Alloy Die Casting Company is located at 6550 Caballero Blvd. in Buena Park. It was formerly operated by Sanders Industries in Long Beach as its only casting subsidiary. With the sale of Alloy Die Casting to Gladstone, Sanders will operate five polymer subsidiaries: Rubbercraft® Corporation of California, based in Long Beach; Northern Engineering (Sheffield) Ltd., based in Sheffield, England; Creavey Seal Company, based in Olyphant, Pennsylvania; Sanders Composites Inc., based in San Diego; and Fabritech Inc., based in West Chester, Pennsylvania.

Alloy Die Casting has been manufacturing complex die castings using aluminum, zinc, and zinc/aluminum alloys since 1946. In October of 2010, the company acquired Los Angeles Die Casting, a manufacturer of die cast products for industrial and aerospace applications, and consolidated operations in their Buena Park headquarters.

(source: http://www.oc-breeze.com/2013/10/05/39932_buena-parks-alloy-die-casting-sold-to-virginia-based-investment-company/)

Kinetic Die Casting Company

Kinetic Die Casting Company wishes to say “GOOD LUCK” and hopes the employees and staff of Alloy Die Casting Company success in continuing die casting operations in the Buena Park, California location. When Delmar Die Casting Company sold, the buyer moved all manufacturing operations to another state. Should things change for the ADC employees or staff, please remember Kinetic Die Casting when you are looking for your future.


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Kinetic Die Casting Company (https://www.kineticdiecasting.com)
6918 Beck Avenue
North Hollywood, California 91605
818-982-9200
sales@kineticdc.com

#kineticdc @kineticdc

  12 Responses to “Alloy Die Casting Company Buena Park California Sold”

  1. Another one down. Thanks Obama!

  2. I thought you were up in Burbank area?

  3. Wow

  4. may I copy on my siite?

  5. Thanks, I have been looking for this.

  6. How much?

  7. Great Job

  8. Its a sad thing when a company closes these days…

  9. Wow, My Dad was a cornerstone of Alloy. I’m glad he isn’t here to see this. He loved his job at Alloy

  10. Yes, the die casting industry is changing all the time.

  11. ALLOY DIE CASTING is still working at Buena Park. They have so many customer.

  12. You are right, Alloy Die Casting Company is still in Buena Park, California. The Alloy Die Casting owners still sold the Die Casting Company.

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