Foundry Specializing in Production of Precision Aluminum Die Cast Parts
MINNETONKA, Minn. (November 21, 2022) – Platinum Group, a business advisory firm based in Minnetonka, Minn., today announced it completed the sale of Dee Inc., a Crookston, Minn. based foundry specializing in design, close tolerance aluminum casting, machining and fulfillment, to a strategic buyer with complimentary production and market focus. Terms of the sale were not disclosed.
Dee Inc. retained Platinum Group as its exclusive advisor to locate, negotiate and close the sale of the company. A nationwide marketing effort located a strategic group, Wisconsin Aluminum Foundry (WAF), who recognized the value of Dee’s customers, capabilities and geographic location. Platinum led the company in the due diligence process and through to a close for the benefit of stakeholders.
WAF’s latest acquisition comes less than a year after it purchased Wabash Castings in Wabash, Indiana. Under WAF’s ownership, Wabash Castings has doubled revenue and increased employment by 50%.
Founded in 1909, WAF is a family-owned company, serving a wide variety of industries by providing high-quality aluminum and copper-based alloy castings. Its Manitowoc facilities, including its foundry and machine shop divisions, employ more than 450 team members, with Wabash Castings, LLC employing nearly 150 team members.
About Platinum Group
Platinum Group provides customized services for business owners in need of turnarounds, buy- or sell-side assistance, and other advisory services for middle market clients in a wide range of industries including agricultural, health care, manufacturing, service and distribution. Over the past 40 years the firm served more than 1,000 clients in the upper mid-west.
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