June 27, 2016
Ajax TOCCO Magnethermic shipped a 1,000-kW induction billet heating system to LC Manufacturing of Lake City, Mich., a supplier of closed-die hot forgings.
The 1.3- to 3.3-kHz system is designed to heat carbon-steel billets 1.06-2.875 inches in diameter x 6-20 inches long to forging temperatures. The system includes automatic changing of frequency for differing billet sizes. The unit is loaded by a vibratory bowl feeder.
The system includes automatic changing of frequency for differing billet sizes. The unit is loaded by a vibratory bowl feeder. A PLC with touchscreen display featuring ForgeView Plus software is also included.
Nov. 18, 2015
LC Manufacturing was named winner of the “Industrial Goods and Basic Resources Deal of the Year Award” by The M&A Advisor for their work with O’Keefe on the successful turnaround and sale of LC Manufacturing. The award was presented during the 2015 M&A Awards Gala on November 17th before a sold-out audience of accomplished business leaders and professionals at the New York Athletic Club, New York, NY.
“Since 2002, we have been honoring the leading M&A transactions, companies and dealmakers. LC Manufacturing was chosen from over 690 participating companies to receive the award. It gives us great pleasure to recognize LC Manufacturing and bestow upon them our highest honor for M&A firms and professionals," said David Ferfusson, Co-CEO and President, The M&A Advisor. “LC Manufacturing represents the best of the M&A Industry in 2015 and earned these honors by standing out in a group of very impressive candidates.”
“We are proud to have been recognized for the work done on behalf of LC Manufacturing,” said Pete Baenen, LC Manufacturing President/CEO. “Company management, Comerica Bank, and the team of professionals — O’Keefe, BFC Inc., and Dold Spath Kiriazis — successfully worked together through shareholder issues, refinancing, and stabilization of the business, to return the Company to a solid footing under new ownership.”
Since 1998, The M&A Advisor has been presenting, recognizing the achievement of and facilitating connections between the worlds’s leading mergers and acquisitions, financing and turnaround professionals.