KB Alloys LLC Announces New Joint Venture in China
Chicago, IL - KB Alloys LLC, a portfolio investment of Code, Hennessy & Simmons III, L.P., has signed a joint venture agreement with Nanjing Yunhai Special Metals Co. Ltd in Jiangsu province Peoples Republic of China. The newly formed company is named Nanjing Yunhai KB Alloys Co. Ltd.
Headquartered in Reading, Pennsylvania, KB Alloys LLC is a global leader in the development and production of aluminum grain refiners, hardeners, master alloys and custom engineered materials serving various segments of the metals and manufacturing industries. For additional information about KB Alloys, please refer to the company’s website at www.kballoys.com.
“With the agreement finalized and the business license approved, we are now in full swing with our planned construction of a new state-of-the-art manufacturing site in China,” said Rick Malliris, CEO of KB Alloys. “The new facility, producing aluminum-based grain refiners and master alloys, will better position KB Alloys for long term global growth and afford Chinese aluminum mills with strategic access to KB Alloys quality. Additionally, the facility will offer logistical advantages for our well-established customer base within Asia, the Middle-East and Europe.”
Code Hennessy & Simmons LLC (“CHS”) is a Chicago-based private equity firm focused on investing in middle market companies in partnership with management. CHS targets well-managed companies focused on growth with enterprise values between $75 million and $1.0 billion. With particular expertise in the Infrastructure & Industrial Products, Business & Consumer Services, Consumer, and Distribution sectors, CHS has completed 73 platform investments and 211 add-on investments. Founded in 1988, CHS has formed five private equity funds and currently manages over $2.8 billion of capital. For additional information about CHS, please refer to the firmcompany’s website at www.chsonline.com.