Alantra advises Allegheny Technologies Incorporated on sale of its Flowform Products business to Consolidated Boring Inc.
SECTORAerospace & Defense
Boston – Alantra, a leading global investment bank and asset management firm, is pleased to announce its support of Allegheny Technologies Incorporated (NYSE: ATI) in the sale of its Flowform Products business to Consolidated Boring, Inc. The transaction closed on August 13, 2021 for a total enterprise value of $55 million in cash. The business will be known as American Flowform & Machining, LLC.
“It was a privilege to work with ATI to find the right home for this unique, strong-performing business in the defense market,” said David Waldstein, Managing Director of Alantra.
“The combination of Alantra’s sector knowledge in the aerospace and defense markets and our strong relationships with the leading industry players was instrumental in bringing this deal to a successful close during a global pandemic,” said Wade Aust, Managing Director with Alantra.
This is another important credential for Alantra’s Aerospace & Defense team who has completed eight related transactions in the past year. It also adds to the team’s credentials in the metal processing and forming of metal parts in the important A&D sector. The Alantra US team advising ATI included Mr. Aust, Mr. Waldstein, and Damien Perera (Vice President).
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