Investor Group Buying Superior Forge
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Superior Forge Inc., a 6-year-old Huntington Beach metal processing business, is being sold for $17.1 million to an investor group headed by the former chief executive of its parent company.
The aerospace parts maker is being sold by Metal Management Inc., a Chicago-based holding company for a group of metal recycling businesses.
Gerard M. Jacobs, who had been Metal Management’s chief executive, left that post to put together the group that is acquiring Superior. His partners are Superior’s current top officers, Ian Albert and Alan Shumway, who will continue to manage the manufacturing firm.
The sale of the 91-employee company is expected to be completed next week.
Jacobs has started a new company, Huntington AluTech, to acquire Superior and other aluminum processing businesses.
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