PMCF anounces sale of Demmer Corporation heavy fabrication operation to LOC Performance Products
Chicago, Illinois and Southfield, Michigan – June 2017 – P&M Corporate Finance, LLC (“PMCF”) is pleased to announce that it served as the exclusive financial advisor to Demmer Corporation (the “Company” or “Demmer”) in its sale of its heavy fabrication operation serving principally the defense and aerospace industries (“HFO”) to Loc Performance Products, Inc.
Established in 2006 and based in Lansing, Michigan, HFO is a vertically-integrated contract manufacturer of large structures for heavy vehicles and equipment, primarily for the aerospace and defense industries. HFO is a leader in plate preparation, robotic welding of major structures, paint preparation and painting, and vehicle assembly and integration. HFO employs approximately 160 employees, comprised primarily of skilled welders and CNC machinists.
William Demmer, Chief Executive Officer of Demmer, remarked, “Demmer’s armor plate fabricating expertise is a great addition to Loc’s expertise in complex mechanical assemblies. Our companies have similar corporate cultures and our traditional customer base is on the upswing. This is a great move for all of us and only serves to strengthen the future for our employees and our community.”
PMCF was hired to serve as Demmer’s investment banker and lead the sale process. Mr. Demmer noted, “We are extremely pleased with our choice to have PMCF lead the transaction process. Their ability to navigate a unique and complicated transaction and serve as trusted advisors to our team proved to be invaluable in the final outcome.
”The transaction closed on June 5, 2017.