(Manitowoc, WI) Wisconsin Aluminum Foundry (WAF), a leader in aluminum and copper-based alloy castings, has acquired ATEK Metal Technologies of New Hampton, Iowa. The acquisition will expand WAF’s current operations while deepening its reach into key markets including motorsports, transportation, agriculture and the medical industry.
“We’re excited about this acquisition and are feeling a bit nostalgic as we welcome ATEK to the WAF family,” said WAF CEO Sachin Shivaram. “ATEK is a key supplier to leading motorcycle manufacturer, Harley-Davidson. More than 100 years ago, Harley was among WAF’s foundational customers in the early 1900s and, with this acquisition, we’re pleased to have this story come full circle and with the strong relationship ATEK leadership has forged with all its customers.”
A family-owned company, ATEK specializes in low-pressure permanent mold castings and tilt-pour molding. “For more than 50 years, we’ve worked to build ATEK into a go-to manufacturer for several key industries and companies,” explained Mark Osmanski, CEO of ATEK Companies. “Making the decision to sell ATEK was not an easy one but, after meeting with WAF leadership, it was clear that the company and team would be in good hands. We couldn’t ask for a better company to take ownership.”
Foley & Lardner LLP served as legal advisor to WAF. Assisting ATEK with the transaction was Craig-Hallum Capital Group LLC who provided financial advisory services and Barnes & Thornburg LLP providing legal counsel.
ATEK has 220 team members, and its low-pressure permanent mold process is ideal for castings with intricate designs, complex geometries and thin wall sections. This molding process reduces post mold finishing, creates higher material yields, minimal gas porosity or dross formation, and superior mechanical properties.
“Not only is the team at ATEK skilled and dedicated, but the products it makes complement our current offerings, making this a natural fit,” Shivaram explained. “Ultimately, we are focused on establishing the northern Midwest as the place for high-quality aluminum castings.”
ATEK is the fourth acquisition by WAF in recent years and follows on the acquisitions of DEE, Inc. in Crookston, Minnesota, Manitowoc Pattern & Machining in Manitowoc, Wisconsin, and Wabash Castings in Wabash, Indiana.
“The demand for American made products continues to grow and this is another step forward in WAF’s strategy to expand our high quality aluminum casting capabilities,” Shivaram said. “The scale, sophistication, and breadth of services we can offer our customers is unmatched by anything else in the marketplace. We are building something truly remarkable.”
Shivaram continued, “Even as we grow outside of the state of Wisconsin, our beating heart remains in Manitowoc.” The company is in the midst of a $25 million expansion in Manitowoc to add capacity in gravity pour permanent mold casting, 3D sand printing, and low-pressure permanent mold casting.
Founded in 1909, WAF is a family-owned company, serving a wide variety of industries by providing high-quality aluminum and copper-based alloy castings.
