NEW YORK A former
president and chief executive officer of alloy and tool steel
maker Latrobe Specialty Metals Inc., Christopher DiSantis, will
head newly established H-D Advanced Manufacturing Co., a
holding company that will specialize in the manufacture of
heavy-duty, precision-engineered industrial components.
DiSantis, chairman and chief
executive officer of H-D, is partnering with Dallas-based
private equity firm Hicks Equity Partners LLC in the venture,
according to a joint statement by Hicks and Riverside Co.,
another private equity investor in H-D. Hicks was part-owner of
Latrobe before its sale to Wyomissing, Pa.-based Carpenter
Technology Corp. (
amm.com, April 16).
Latrobes former chief
financial officer, Dale Mikus, will join H-D in the same
"Under this leadership team, we
believe H-D is very well positioned to be at the forefront of
what we see as a resurgence of U.S. manufacturing," Hicks
chairman and chief executive officer Thomas Hicks said in a
H-D recently made its first
acquisition with the purchase of Overton Chicago Gear Corp., a
Chicago-based manufacturer of gears and enclosed gear drives.
An H-D spokesman declined to disclose the purchase price for
Overton, which has more than 200 employees at three
manufacturing facilities in the Chicago area. Overtons
current chief executive officer, Louis Ertel, will remain in
the position under H-Ds ownership.
Meanwhile, more acquisitions are
likely on the radar, the companies said. Hicks and Riverside
are "actively seeking additional acquisition opportunities for
H-D ... in the gearing industry and within other heavy-duty,
high-precision manufacturing sectors," the companies said.
Cleveland-based Weinberg Capital
Group also is an investor in H-D Advanced Manufacturing.