Union Partners buys Automotive Steel Technical Center from Heidtman Steel

Steel industry news : Union Partners, a private equity firm has acquired the Automotive Steel Technical Center from Heidtman Steel in Gibraltar, Michigan for an undisclosed price.

The Automotive Steel Technical Center is located near Lee Steel, a portfolio company of Union Partners.

Its purchase is expected to consolidate the position of Lee Steel in catering to the automotive market and other customers across Michigan.

Built in 2005, the 9,500 square foot Automotive Steel Technical Center hosted the automotive technical and commercial teams of Heidtman Steel.

Union Partners plans to use the facility to introduce new advanced high strength (AHSS) and ultra high strength steels to the markets.

Business deal done. Photo courtesy of adamr at FreeDigitalPhotos.net.

The acquisition is also expected to give scope for expansion to over 150,000 square feet in the future at existing Gibraltar facility of Lee Steel.

Union Partners founders Chris Hutter and Paul Douglass said: “One of the biggest motivations for us in starting Union Partners was to identify and support – both financially and operationally – opportunities in the metals industry where innovation is alive and well.

“This testing facility deepens our commitment to the next generation of steel products. It also deepens our commitment to our mills and customers as we all work together to understand the vast capabilities of these new materials.”