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At the end of 2022, Bill Balliette joined Novastone’s Operator-Led Buyout Program, seeking to acquire a profitable U.S. manufacturing company. After more than three years of intensive searching, he has acquired Alumistar, the parent company of Pacific Cast Products and Performance Aluminum Products. The enterprise value is approximately $12M, representing less than 5x EBITDA.
Founded in 2003 and based in Ontario, California, Pacific Cast Products and Performance Aluminum Products is a leading aluminum alloy casting company serving customers across the aerospace, defense, industrial, and commercial markets. The company specializes in producing high-quality aluminum alloy castings that meet demanding performance, precision, and reliability requirements for industrial and aerospace applications. With approximately 45 employees, the company generates $7M in revenue and has an adjusted EBITDA of $2.7M.
Bill brings extensive manufacturing leadership experience to build on the company’s strong foundation and support its continued growth. He commented: “I am excited to leverage my experience leading manufacturing organizations and lead Alumistar into its next chapter, building on the foundation created by the company’s prior ownership group and team. We have worked diligently with our investment partners to build a group of stakeholders who understand the operational realities of manufacturing businesses and bring a valuable perspective as we work to preserve Alumistar’s legacy while pursuing the company’s next phase of growth.”
DD: Harney Partners / Legal: Smith Hulsey & Busey / Tax: UHY / Financing: Avid Bank
