Stevenson Advises Spin-off of a Non-Core Business from Ampco-Pittsburgh

Stevenson completes sale of Vertical Seal, a division of Ampco-Pittsburgh Corporation

Result:      Business Sold to Strategic Buyer

Industry: Manufacturing Services – Precision Machining of Components for Steel Rolling Mills

Ampco-Pittsburgh Corporation (NYSE: AP), headquartered in Carnegie, PA, announced that it had completed the sale of a non-core business, Vertical Seal Company, to Roser Technologies, Inc. (RTI).  Stevenson & Company was retained as the exclusive sales advisor to Ampco-Pittsburgh.

Founded in 1949, Vertical Seal Company (VSC) is a leading provider of precision machining of large rotational components.  Vertical Seal’s manufacturing facility is located in Pleasantville, PA.  The Company primarily serves the North American Steel industry with the key products being bearings, sleeves and chocks and key processes being refurbishing, milling/boring and babbitting.

RTI provides continuous caster maintenance services to all major steel producers throughout the United States, Canada, and Mexico. RTI designs, manufactures, and refurbishes caster mold and segment components along with other critical parts that are used to manufacture steel.  RTI is located in Titusville, PA.

Rose Hoover, President of Ampco-Pittsburgh Corporation, commented: “We are delighted to have completed the sale of  Vertical Seal to Roser Technologies.  They will be an ideal partner for VSC with common served industries, customers and processes, but most importantly, providing a great new home for Vertical Seal’s employees.  Stevenson & Company did an excellent job communicating the value of the company, bringing a number of attractive buyers to the table and coordinating the final transaction with Roser.  We certainly appreciate the guidance and assistance they provided.”