Platinum Equity to buy SCM Metal Products

Industrial Distribution staff -- Industrial Distribution, 10/9/2008 7:46:00 AM

Research Triangle Park, N.C.-based SCM manufactures and distributes copper-based powders and pastes and copper oxide powders for use in metal coating process. The company also has a facility in Suzhou, China.

“We expect to have additional resources to grow our business both organically and through M&A transactions. There are many opportunities for growth in the U.S., China and the other export markets SCM serves in the powder metallurgy, chemical, electronics and industrial markets. I know that Platinum Equity shares my enthusiasm for the future and their support will be critical to our success,” SCM president Barton White said.

It’s the latest venture in the metals industry for Platinum, which also has a footprint in industrial distribution. The Los Angeles-based acquirer took Strategic Distribution Inc. private early last year, bought out Textron’s Fastening Systems business in 2006 and lost out to rival Luther King Capital Management on a bid to acquire Industrial Distribution Group Inc. earlier this year.

On the metals side, Platinum sold metals products processor and distributor PNA Group to Reliance Steel & Aluminum Co. for $1.1 billion in August. Last October, the firm divested ESM Group to SKW Metallurgie and acquired metals service center provider Ryerson Inc.