One Towne Square
Southfield, MI 48076
TRM Equity announces the acquisition of Elyria Foundry, based in Elyria, Ohio. The transaction was completed on January 25, 2021.
Elyria Foundry, specializes in ductile iron castings up to 200,000 pounds serving a broad set of markets including defense, oil and gas, construction equipment and mining. Elyria Foundry has operated since the early 1900’s and has developed a strong technical and metallurgical team that drives its success.
Jeffrey Stone, Managing Director for TRM Equity, commented: “The foundry industry has been under considerable pressure over the last few decades, and we have focused on the companies with unique positions and capabilities in their space. Elyria Foundry has range to produce very large castings and the depth of technical talent to solve problems for its customers. We look forward to partnering with the Elyria Foundry team to navigate through a challenging environment and continue to be a valued resource to its customers far into the future.”
About TRM Equity
Formed in 2019, TRM Equity is a private equity firm that seeks to invest in special situations where the experience of our team can assist companies in executing their strategies. The firm’s team has been together in a predecessor fund for over 15 years investing with a consistent approach in targeted manufacturing industries, and has a demonstrated track record of outsized returns.