Private-equity firm Stellex Capital Management LLC has acquired A. Stucki Company, a Moon Township, Pa.-based provider of engineered parts and services for railroad rolling stock.
Stellex on Dec. 1 reported completing the recapitalization of Stucki in partnership with Eldridge, a Greenwich, Conn.-based investor. Financial terms of the transaction, which closed Nov. 23, were not disclosed.
Stucki was founded in 1911 and offers dynamic control products, brake system components, locomotive components, track infrastructure products and direct to locomotive refueling services. It operates 21 facilities throughout the United States, Mexico and Brazil. Stucki was purchased in 2015 by Stone Canyon Industries, and became a SCI Rail platform; its divisions include Alco Spring Industries, American Industries, American Turbocharger Technologies, BR&L (Birmingham Rail & Locomotive), DiMEC Rail Services, Independent Draft Gear, Magnus, Salco Products Inc., Seco Machine and Velocity Rail Solutions.
According to Stellex, the Stucki management team will continue to lead the business, under the direction of CEO John O’Bryan, who took on the top job in May 2021. Twenty-three-year railroad veteran David Meyer will join as Executive Chairman of the Board.
“We are grateful to have Stellex as a partner,” O’Bryan said. “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.”
“Stucki has a strong brand and reputation in the rail industry, providing in-demand products and services to customers,” said Meyer. “I look forward to working with Stucki’s hard-working employee base to drive growth through comprehensive business and operational excellence.”
“We are tremendously excited about the acquisition of Stucki,” said Michael Livanos, Managing Director at Stellex, which has offices in New York, N.Y.; Ann Arbor, Mich.; Pittsburgh, Pa.; and London, U.K. “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.”
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. Stucki was advised by Latham & Watkins LLP.