Guard Hill Holdings is pleased to announce that its portfolio company, Stainless Foundry & Engineering, Inc. has successfully terminated its defined benefits pension plan. Through the process Guard Hill Holdings invested additional subordinated debt and equity in its portfolio company in order to finance the termination and payout of its defined benefits pension plan. The pension plan, a legacy plan, was frozen 5 years ago and formally terminated the end of November. The termination is another example of Guard Hill Holdings using its management expertise and capital to dramatically improve operating performance of one of its portfolio companies.
About Stainless Foundry & Engineering, Inc.
Stainless Foundry & Engineering, located in Milwaukee, Wisconsin, is a leading manufacturer of complex and highly engineered sand and investment castings poured in over 250 different stainless steel and other high alloy compositions. Stainless supports customers in a very wide array of industries and end use applications including energy, chemical, marine, nuclear, power generation, the US military, general industrial, food & dairy, and appliance industries. Stainless Foundry & Engineering is certified to produce castings to meet the most rigorous requirements including Norsok, API and nuclear. Stainless sells to customers in all parts of the world.
About Guard Hill Holdings
Guard Hill Holdings is a private equity firm focused on US-based, niche industrial and consumer product manufacturing companies. Having worked together for over 20 years, completing over 40 transactions such as FreightCar America and Transportation Technologies, Inc., the partners of Guard Hill Holdings continue to bring their operating and investment experience to their current portfolio companies.