Appalachian Cast Products poised for growth with new investment
Premier Engineered Products’ (PEP, Grand Rapids, Michigan), which owns Appalachian Cast Products (Abingdon, Virginia), has a new investor; Charter Growth Capital Fund (CGCF) has provided mezzanine debt in support of PEP’s recapitalization. Birmingham, Michigan-based Colfax Creek is the lead investor in the transaction. Colfax Creek and foundry veteran Mike Ryan, formed PEP in January 2019 to recapitalize Appalachian Cast Products (ACP) and integrate Premier Die Casting's production into its Abingdon facility.