Pittsburgh Manufacturers Acquired by Private Equity Firm
Private-equity group Stellex Capital Management has acquired two Pittsburgh-area manufacturers: a ferrous foundry and a forging and machining business, from Arcosa Inc. Both of the acquired companies supply a range of components for railroad and industrial buyers. McConway & Torley is a steel foundry with plants in Pittsburgh and Kutztown, PA, and 60,000 tons/year of melting capacity from three electric arc furnaces. Its cast products include couplers for freight trains and transit cars, knuckles and coupler parts, yokes and followers, striker parts, and draw bars.