Scott Brass Sold to Sun Capital Partners
Scott Brass Sold to Sun Capital Partners
Jason Sandefur
Cranston, RI-based Scott Brass Inc., which manufactures brass and copper strip for fasteners and other products, has been sold to private investment firm Sun Capital Partners Inc. for an undisclosed sum.
“The announcement of the sale came just days after the company’s Mishawaka, Ind., plant shuttered its doors without explanation and left 78 employees without jobs,” reports Anne Riley of American Metal Market.
Scott Brass officials reportedly have blamed the shutdown on “tanking copper prices and the financial struggles at the company’s bank.”
Scott Brass CEO Barry Golden, who will continue at the company’s helm, said the company’s sale was necessary to ensure adequate capital.
“The entire senior management team of Scott Brass will remain intact,” Golden emphasized. “No changes in the management or manufacturing structure of the firm are anticipated.”
Boca Raton-based Sun Capital Partners has invested in more than 200 companies since 1995, with combined sales exceeding $40 billion. Web: suncappart.com
Founded in the 1950s, Scott Brass is a fully integrated mill producing high-quality brass and copper alloy strip for electronic and automotive connectors, fasteners, hardware, electrical, plumbing, cosmetic, decorative and consumer products manufacturers. The company added a second plant, this one in Mishawaka, IN, in 1986 to serve Midwest and West Coast customers. The company is headquartered at 1637 Elmwood Ave., Cranston, RI 02910. Tel: 800 556-3470 Fax 401 461-9057 E-mail: sales@scottbrass.com Web: scottbrass.com �2008 FastenerNews.com
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