Elmet Technologies, Inc. acquired by Anania & Associates Investment Company, LLC
Elmet Technologies, Inc. (Elmet) is a fully integrated global leader in the production of highly specialized and engineered molybdenum and tungsten products. Elmet’s world-class facilities manufacture and fabricate to their customers’ most exacting specifications. With over 300,000 square feet at three manufacturing sites in Maine, Georgia, and Chengdu, China, Elmet produces milled, machined, and fabricated products for semiconductor, hig-temp furnace, flat panel display manufacturing, medical imaging, and several other industries.
The sudden bankruptcy of one of Elmet’s largest customers in October created a challenging situation for the Company. The Company relied on the strength of the relationships with its customers as well as its unique position in their industry to overcome this difficult situation. The Company made the decision to seek strategic alternatives, however the market dynamics required a rapid approach to the transaction execution.
G2 Capital Advisors was engaged to represent Elmet Technologies, Inc. as the exclusive sell-side advisor responsible for running an expeditious, targeted, and high-touch sale process while evaluating other strategic alternatives and options.
“G2 has developed an extensive practice area within special situations M&A advisory,” said Jeffrey Unger, CEO of G2 Capital Advisors. “While a challenging set of market and company dynamics were at play, we are thrilled with such a successful outcome for our client.”
The resulting transaction was successfully executed through a series of transactions with multiple parties. Ultimately, the business was sold to Anania & Associates Investment Company, LLC and management. Anania & Associates is a Maine based and focused investment firm that invests in well-managed specialty manufacturing businesses.
“There are so many positives that come with this transaction,” said Andy Nichols, CEO of Elmet. “our ownership is an awesome group of seasoned, forward-thinking business leaders from Maine, we have strong commitment to and from our highly experienced and knowledgeable workforce, and with local ownership, we are laser-focused partnering with our global customers to enhance our leadership position in the market.”