Continuim Announces Sale of Anker Industries
Continuim Equity Partners (“Continuim”) is pleased to announce the successful realization of Anker Industries (“Anker” or the “Company”) to Opta Group, a portfolio Company of Speyside Equity Advisers.
Continuim acquired Anker Industries in July of 2021, and had the pleasure to work with the former owner and operator of the business to support his transition into retirement while carrying on Anker’s legacy and growing the Company alongside the employees and a new management team, led by Mr. William Breedlove.
Continuim implemented the firm’s Efficiency Drive Growth Engine (EDGE) to expand Anker’s production capacity by over 100%, enhance the Company’s sales force and go to market strategy, diversify Anker’s customer base and product mix, and upgrade the Company’s facilities.
George Pilafas, Managing Partner of Continuim Equity Partners, stated "Pittsburgh’s rich steelmaking history and Anker’s history of successful cash flow generation as a differentiated supplier to the domestic steel market made the Company an ideal acquisition. Anker was a foundational investment for our firm, and we are proud to have successfully implemented our Operational Playbook to grow the Company and to carry on the Company’s legacy. Together with management and the loyal employees at Anker, Continuim has transformed the Company and we are confident that Opta Group is the right partner to drive Anker’s continued growth.”
Continuim was advised by Brown Gibbons Lang & Company on the transaction.
About Continuim Equity Partners
Continuim is a Pittsburgh-based private equity fund with over $100 million of capital commitments. We focus exclusively on acquiring and accelerating the growth of successful manufacturing and industrial businesses ranging from $3MM to $10MM of EBITDA. We bring operating strategies, committed capital and a talented team of industrial operators to help transform family and founder-owned manufacturing, value-added distribution, and industrial maintenance companies.
Our name is derived from what we consider most important to the growth of family and founder-owned industrial businesses — Continuous improvement.
Please visit our website to learn more about our Investment Criteria or contact us directly to discuss Continuim and any investment opportunities that fit our mandate.
About Anker Industries
Established in 1975 and located in Turtle Creek, PA, Anker Industries is a leading manufacturer and recycler of metallurgical powders and briquettes, while also providing aluminum processing and slag design services for the largest steel producers in North America.
Anker’s culture of innovation, customer-focused relationships, and continuous improvement has led the Company to become a leading producer of specialty additives to the domestic steel industry.
For more information, visit www.ankerindustries.com.
About Opta Group
Opta Group (“Opta”) is the leading supplier of performance materials and solutions in the molten metal, glass, and specialty chemical industries. The Company serves the steelmaking, metal refining, concrete and cement, and pulp and paper industries worldwide.
For more information about Opta Group, please visit https://optagroupllc.com.
Certain statements about Continuim made by portfolio company executives herein are intended to illustrate the work of Continuim’s team with such portfolio companies. Such portfolio companies are controlled by investment vehicles managed by Continuim. Portfolio company executives were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in Continuim-sponsored vehicles. Such compensation and investments subject participants to potential conflicts of interest in making the statements herein.