Matrix Capital Markets Group Announces Another Successful Cross Border Transaction with the Sale of American Commercial
RICHMOND, VA – November 14, 2006 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the sale of American Commercial, Inc. to DSI USA, Inc. American Commercial, based in Bristol, VA with operations in Louisville, KY, is the leading North American designer and manufacturer of underground steel supports used primarily in the underground construction and mining industries. DSI USA is a subsidiary of Munich, Germany based DYWIDAG-Systems International, a global manufacturer of products and systems for the mining and tunneling industries and a portfolio company of European private equity firm Industri Kapital.
Founded in 1920, American Commercial offers a complete selection of custom designed and engineered ground control solutions for mining and tunneling projects. The company has a long history of designing and manufacturing underground structures and support systems, including a number of industry firsts, such as the first solid, square-cornered tunnel liner plates which it designed and patented in 1926, and the first steel linings for use with shields which it designed and patented in 1927. With well over eighty years of experience, American Commercial has completed thousands of projects on six continents.
In commenting on the transaction, Jim Marianski, CEO of American Commercial stated, “We believe DSI has a great global platform in the tunneling and mining industries, and American Commercial is a natural fit with DSI’s current operations. The addition of American Commercial’s existing manufacturing base will enhance DSI’s global tunneling operations and create a stronger platform for growth in North America.”
Bill Weirich, Managing Director and Principal with Matrix added, “We were thrilled to be a part of the successful sale of American Commercial to DSI. This transaction represents the culmination of a ten year relationship with American Commercial that began in 1996 when Matrix assisted American Underground Structures with the acquisition of Commercial Pantex Sika, its largest competitor, to create American Commercial, one of the leading underground support manufacturers in the U.S.”
About Matrix Capital Markets Group
Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies. Our primary advisory services include company sales, asset divestitures, recapitalizations, management buyouts, capital raises of debt & equity, corporate recovery, fairness opinions and valuations. Matrix has served clients in a wide range of industries, including industrial manufacturing and distribution, building products, business services, consumer products, healthcare, lumber and petroleum marketing & distribution. For additional information, please visit www.matrixcmg.com.
Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.