Pace Industries merges with Port City Group
by July 1, 2015 9:15 am 236 views
Pace Industries, an aluminum, zinc and magnesium die casting company based in Fayetteville, announces the merger with Port City Group in Muskegon, Mich. The merger will provide die casting, machining, manufacturing and finishing capabilities across diverse industries including automotive, lighting, electrical, recreational and others.
The combined company will consist of 12 divisions and 21 facilities with sales of approximately $600 million across the United States and Mexico.
“Blending the strengths of Pace and Port City Group will result in a formidable automotive supplier and preferred non-automotive supplier in the die casting industry and build our capabilities to deliver better quality, service and value to customers,” said Pace Industries President and CEO Scott Bull.
Port City Group will become a division of Pace Industries. John Essex will remain CEO of Port City Group, join the Pace Board of Directors, and become one of its largest shareholders while leading Pace’s automotive growth strategy.
“Over the last few years, it became apparent that we needed a platform for our growth that would provide us greater geographical reach than what we had with our Michigan-based facilities. This merger will provide needed capacity in closer proximity to some of our customers in North America while expanding our production capability,” Essex said in the release.
According to Bull, the companies will work together to take full advantage of best practices and synergies, which will provide both organizations the capabilities and resources to meet and exceed customer expectations.