Los Angeles, California-based private equity firm Aurora Capital Group announced Thursday that its affiliate Aurora Resurgence has sold New Star Metals, Inc. and its Premier Resource Group and Electric Coatings Technologies subsidiaries to an affiliate of Insight Equity Holdings LLC.
In conjunction with this transaction, Aurora Resurgence also sold the US Metals and Supply division of New Star to Custom Steel Processing, Inc. based in Madison, Illinois, and retained its ownership of Miami Valley Steel Service. Based in Piqua, Ohio, Miami Valley Steel is engaged in the value-added processing and distribution of sheet steel products, including hot rolled, cold rolled, hot dipped galvanized and galvannealed steel. Under Aurora Resurgence's ownership, Miami Valley will continue to provide value-added processing and distribution of sheet steel products to a diverse array of end markets.