Ellwood Group to Acquire McInnes Rolled Rings
Ellwood Group Inc. of Ellwood City, Pa., will acquire McInnes Rolled Rings, a manufacturer of seamless carbon, alloy and stainless steel rolled rings. The deal is scheduled to close on March 31, and Ellwood expects to run Erie, Pa.-based McInnes independently as a wholly owned subsidiary. Operations at both companies are expected to continue seamlessly throughout the acquisition process. The deal fits Ellwood’s strategy to provide quality metals and custom-engineered components for critical applications around the world.
Ellwood CEO Ben Huffman said, “McInnes’ capabilities complement and expand Ellwood’s current footprint in the rolled-rings market. As a longstanding customer of ours, we recognize the knowledge, expertise and experience that McInnes brings to the table.”
McInnes Rolled Ring’s CEO, Tim Hunter, and his management team will continue to lead the company as a stand-alone entity.
Ellwood Group now has 11 business units and more than 25 locations across North America.