CPE News (11/14/2021) – Opta Group LLC, a portfolio company of Speyside Equity, has acquired Metcan Industrial Corporation and its group of manufacturing operations effective November 1, 2021.
Founded by Dean and Nancy McCann in 1990, Metcan Industrial Corp. is a recognized leader by using state-of-the-art technologies to produce and distribute high- quality, custom-blended synthetic slag for use by steelmakers.
Formed from the merger of Opta Minerals Inc., Affival, and ESM, Opta Group, Amherst, New York based Opta Group is a performance materials company offering a diverse product portfolio to serve a multitude of iron and steelmaking needs.
Speyside Equity acquired Waterdown, Ontario based Opta Minerals (formerly TSX: OPM) for approximately CDN $9.2 million in April 2016.
photo credit: Metcan Industrial Corporation
News Release
Opta Group Acquires Metcan Industrial Corp.
Acquisition adds specialty manufacturing capacity and increases business opportunities
AMHERST, N.Y., Nov. 12, 2021 /PRNewswire/ — Opta Group LLC, a portfolio company of Speyside Equity, announced today that it acquired Metcan Industrial Corporation and its group of manufacturing operations on November 1, 2021.
Since its incorporation nearly 30 years ago, Metcan Industrial Corp. has established itself as a recognized leader by using state-of-the-art technologies to produce and distribute high- quality, custom-blended synthetic slag for use by steelmakers.
We like this business because Metcan has a culture very similar to ours.—John Dietrich, CEO of Opta Group
“We like this business because Metcan has a culture very similar to ours,” says John Dietrich, CEO of Opta Group. “And, like Opta, Metcan focuses on producing highly engineered synthetic formulations. The added manufacturing capacity gives us room to pursue more business opportunities.”
Dean and Nancy McCann founded Metcan in 1990 to supply synthetic slag to steel manufactures. The company operates facilities in Stoney Creek, Ontario, Selkirk, Manitoba, and Adrian, Michigan.
“This opportunity aligns with Opta’s growth strategy by enhancing our capabilities and potential to reach new customers and markets,” says Nicholas Lardo of Speyside Equity.
About Opta Group
Opta Group is a performance materials company offering a diverse product portfolio to serve a multitude of iron and steelmaking needs. Formed by the union of Opta Minerals, Affival, and ESM, Opta Group has become the world leader in iron desulfurization and cored-wire products. The company also provides high-quality slag conditioners, tundish fluxes, ladle sands, and insulators, in addition to other equipment and services its customers require.
About Speyside Equity
Speyside Equity is a private equity firm that makes control investments in middle-market businesses. Taking an operations-intensive approach, Speyside targets companies with histories of solid revenue, defensible positions in their respective markets, and core groups of managers that can move their businesses forward.
Founded in 2004, Speyside has closed 28 acquisitions across the United States, Canada, and Western Europe. Its investments include manufacturers of specialty chemicals or minerals, building products, food ingredients, and plastics, as well as metal formers and fabricators. Speyside’s portfolio companies have generated total annual revenues exceeding $1.1 billion while employing more than 3,800 people. The firm’s transactions have included diverse situations, including private sales, corporate carve-outs, and public-to-private conversions.
CONTACT:
Eric Wiklendt
Speyside Equity
eric.wiklendt@speysideequity.com
956-648-7484
speysideequityllc.com
SOURCE Opta Minerals Inc.