Vorteq Completes Strategic Acquisition of Wheeling Service & Supply, Inc.

Company Also Announces Outstanding Addition to its Board of Directors

PITTSBURGH--()--Vorteq Coil Finishers, LLC (Vorteq or the Company), a leading provider of coil coating services for metal products, today announced the acquisition of the assets of Wheeling Services & Supply, Inc. (Wheeling). Headquartered in Woodstock, Ill, Wheeling is a leading producer of pre-painted aluminum products serving the residential building and construction market, with a reputation for outstanding customer service earned during its distinguished five-decade operating history. As part of the transaction, the Wheeling operation will be renamed Vorteq Woodstock, LLC. Terms of the acquisition were not disclosed.

“P.V.S is a proprietary product for the HVAC market that Vorteq intends to expand significantly. This highly attractive offering, along with Wheeling’s differentiated slitting and cut-to-length capabilities, will deepen Vorteq’s service offering to its diversified and discerning customer base.”

The Wheeling acquisition will increase Vorteq’s production capacity and ability to service its residential building products customers across the Midwest. Now the third largest independent coil coater in the nation—with eight continuous coil coating lines—Vorteq continues to execute upon its strategic vision to broaden its processing capabilities to better service its diverse, multi-regional customer base. As part of the transaction, Vorteq will acquire Wheeling’s proprietary P.V.S. product line, which the Company intends to expand domestically and internationally. Finally, Wheeling will deepen Vorteq’s slitting capabilities and provide the Company with an outstanding cut-to-length line that will allow it to provide sheeting services to its customers.

In addition, Vorteq is pleased to announce that Mark Sherwin has joined the Company’s board of directors. Mr. Sherwin served as the President of CENTRIA, a designer, developer and manufacturer of architectural metal wall and roof systems, from 1996 to 2013. Sherwin will assist Vorteq in implementing its ambitious strategic plan and has deep understanding of coil coating given his decades of experience in metal manufacturing and processing.

“The addition of the Wheeling assets to the Vorteq portfolio is a logical follow-up to our highly successful 2016 acquisition of Prior Coated Metals,” says Jim Dockey, Vorteq’s Chief Executive Officer. “The transaction will enable Vorteq to better serve its gutter coil and residential building product customers, and we look forward to leveraging the enormous potential of P.V.S. with our sales force. Also, I could not be more excited to have Mark Sherwin join our Board. Mark has been a mentor to me during my career, and he has the perfect background to assist us in accelerating our excellent growth trajectory.”

Matt Homme, Managing Director of Peninsula Pacific, which holds a majority interest in Vorteq, adds, “We believe that the Wheeling acquisition is a highly compelling and attractive acquisition for Vorteq as it continues to successfully implement its ambitious strategic plan. Peninsula Pacific will continue to support Jim and his excellent team as the Company looks to further deepen its processing capabilities and expand geographically.”

Stephen Alarcon, Vice President of Peninsula Pacific, added: “P.V.S is a proprietary product for the HVAC market that Vorteq intends to expand significantly. This highly attractive offering, along with Wheeling’s differentiated slitting and cut-to-length capabilities, will deepen Vorteq’s service offering to its diversified and discerning customer base.”

About Vorteq Coil Finishers, LLC

Since 1982, Vorteq has been a trusted American source for quality coil coated steel and aluminum. With eight distinctly different coil coating lines strategically located in Pennsylvania, Wisconsin, Illinois and Tennessee, Vorteq differentiates itself by offering a broad range of metal coil coating services to the industry. Vorteq works with customers in diverse markets to offer industry specific services including wide and narrow coil coating, printing, slitting and embossing for a diverse range of building products, transportation, automotive, signage, energy and lighting end markets. For further information about Vorteq, please visit www.vorteqcoil.com.

About Peninsula Pacific

Peninsula Pacific is a private Los Angeles-based company specializing in customized capital solutions for both established and developing businesses in the consumer and industrial sectors. Peninsula Pacific seeks to capitalize, restructure and ultimately build meaningful businesses in partnership with strong management teams. For further information about Peninsula Pacific, please visit www.peninsulapacific.com.

Contacts

Peninsula Pacific
Matt Homme, mhomme@peninsulapacific.com
or
Abernathy MacGregor Group
213.630.6550
Ina McGuinness, ina@abmac.com
Sarah Dhanaphatana, skd@abmac.com

Release Summary

Vorteq Completes Strategic Acquisition of Wheeling Service & Supply, Inc.