Z Capital Partners, L.L.C., the private equity management arm of Z Capital Group, L.L.C., announced an agreement to acquire Atmosphere Annealing L.L.C. and NitroSteel L.L.C., collectively known as Premier Thermal Solutions, L.L.C., from Gerdau S.A. The transaction is expected to close within 30 days. Terms of the transaction were not disclosed.
With plants in Ohio, Michigan and Indiana, Atmosphere Annealing provides metal heat treating and related services to various end-markets, including automotive, trucking, oil and gas, agriculture, heavy construction and military.
With a plant in Wisconsin, NitroSteel produces ferritic nitrocarburized steel bars that are utilized primarily in fluid power applications in the agricultural, construction, mining, marine, utility and automotive end-markets.
With Z Capital's financial backing, Premier Thermal Solutions plans to expand its metal heat-treating service offering by adding capabilities organically, through strategic acquisitions and by diversifying into additional end-markets.