Dec 1, 2022   SOURCE: BusinessWire

Stellex Capital Management in Partnership with Eldridge Completes Recapitalization of A. Stucki Company

Stellex Capital Management LLC (“Stellex”), a middle-market private equity firm, is pleased to announce an investment in A. Stucki Company (“Stucki” or the “Company”), a leading supplier of highly engineered parts and services for railroad rolling stock. Stellex completed the recapitalization of Stucki in partnership with Eldridge. Financial terms of the transaction were not disclosed.

Founded in 1911, Stucki has broad rail product and service offerings including dynamic control products, brake system components, locomotive components, track infrastructure products as well as direct to locomotive refueling services. Headquartered in Pittsburgh, the Company operates 21 facilities throughout the United States, Mexico, and Brazil.

"We are tremendously excited about the acquisition of Stucki,” said Michael Livanos, Managing Director at Stellex. “We believe Stucki is an exceptional business with over 100 years of history, deep relationships with its customers, and a broad portfolio of parts and services. We look forward to partnering with Stucki’s management team and employees to invest in the Company and strive to deliver its next chapter of growth.”

The Stucki management team, under the leadership of Chief Executive Officer John O’Bryan, will continue to lead the business. “We are grateful to have Stellex as a partner,” O’Bryan commented. “With Stellex’s support, we have confidence that we are well positioned to provide employees the tools they need to grow and improve the overall business. We are eager about the opportunity to drive our business to new levels of quality, product innovation, and operating efficiency with an aim to create more value for our customers and provide better opportunities for our employees.”

In addition to partnering with the existing management team, David Meyer is joining Stucki as the Executive Chairman of the Board. Mr. Meyer brings 23 years of experience in the rail industry. “Stucki has a strong brand and reputation in the rail industry, providing in-demand products and services to customers,” said Mr. Meyer. “I look forward to working with Stucki’s hard-working employee base to drive growth through comprehensive business and operational excellence.”

The transaction closed on November 23, 2022. Greenberg Traurig, LLP, and Configure Partners acted as legal counsel and advisors to Stellex, respectively. Akin Gump Strauss Hauer & Feld LLP acted as legal counsel to Eldridge. The Company was advised by Latham & Watkins LLP.

About A. Stucki Company

A. Stucki Company (https://stucki.com/) is a supplier of machined components, springs, bearings, and other products, as well as critical remanufacturing and logistics services to the rail industry. The Company was established over a century ago by Arnold Stucki, a talented Swiss engineer who authored the “Steel Car Design,” a landmark reference guide for the rail industry. Over the last century, a company-wide focus on growth and diversification has led to broad product and service capabilities, adding tremendous value to long-term customers within and beyond the rail industry.

About Stellex Capital Management LLC

With offices in New York, Detroit, Pittsburgh, and London, Stellex is a private equity firm with over $2.6 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital. Sectors of particular focus include specialty manufacturing, industrial and business services, aerospace & defense, automotive, government services, transportation, logistics and food. Additional information may be found at www.stellexcapital.com.

About Eldridge

Eldridge invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media & Music, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices across the United States and in London. To learn more about Eldridge, please visit www.eldridge.com.