Stonewood Capital Management Announces Acquisition of AGY Huntingdon, LLC
PITTSBURGH -- November 7, 2013
Stonewood Capital Management, Inc., a Pittsburgh-based private equity group,
announced today that Stonewood has completed the acquisition of the assets of
AGY Huntingdon, LLC in Huntingdon, Pennsylvania. Stonewood’s new portfolio
company, Huntingdon Fiberglass Products, LLC (HFP), purchased the continuous
filament mat business as well as the wound products and conductive rovings
product lines which had been manufactured by AGY at its Huntingdon facility.
HFP will continue these operations at Huntingdon and is looking to expand
production quickly to accommodate increasing demand for HFP’s product lines.
Paul Geist, former manager of the Huntingdon plant when it was owned by Owens
Corning, has partnered with Stonewood in the acquisition and will become
President of HFP.
“We are very excited to grow HFP in Huntingdon,” Geist said. Geist also stated
that “the environment for growth of our product lines is very positive, and we
are keen to quickly take advantage of that.”
Stonewood President Kenn Moritz said that “Stonewood is pleased to announce
the closing of this transaction and ready to support HFP’s growth.” Moritz
stated that “it is gratifying to invest in a Pennsylvania business and retain
and grow employment in the Commonwealth.”
First National Bank of Pennsylvania provided senior financing in support of
For more information on Stonewood Capital Management,
visitwww.stonewoodcapital.com or contact Kenn Moritz, President, at
Stonewood Capital Management, Inc.
Kenn Moritz, President, 412-391-0300(tel)
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