PTC ALLIANCE LLC ANNOUNCES PURCHASE OF METAL-MATIC, INC’S BUSINESS
Wexford, PA – December 17, 2021 – As part of our continuing growth strategy, PTC Alliance LLC (PTC Alliance) is excited to announce that PTC Alliance has agreed to purchase the business of Metal-Matic, Inc. (Metal-Matic), a global leader in the production of welded and drawn over mandrel (DOM) carbon steel tubing for standard and specialty applications. Once the sale is complete, the business will become part of PTC Alliance.
“Metal-Matic has a strong portfolio of products, brand and customers that we will seek to profitably maintain and grow”, said Cary Hart, CEO of PTC Alliance. “This acquisition brings together two industry leaders under one well financed and well supported organization. Our customers will benefit greatly from both operating and commercial synergies of the combined company”, continued Hart.
“We are excited about the opportunity to partner with PTC Alliance. The combination makes the company stronger providing better service to our customers and more opportunities for our employees”, said Metal-Matic President, Sanjeev Deshpande. The transaction includes four (4) production facilities employing over 500 associates in Minnesota, Illinois and Ohio. We anticipate the sale process will be completed by the end of 2021.
PTC Alliance is the leading manufacturer and marketer of welded and DOM mechanical steel tubing, cold drawn seamless, fabricated, precision tubular components, and chrome-plated steel bars. For nearly 100 years, PTC Alliance has been an essential supplier to major end-users including construction and agricultural equipment, machinery and appliances, as well as automotive, heavy truck and energy application.