TerraMar Capital acquires SPNAM

Bradken has reached an equity interest purchase agreement for its Specialty Products North America (SPNAM) business, with Los Angeles based investment firm TerraMar Capital.

SPNAM manufactures highly engineered, large, complex, mission critical castings for customers in defence, specialized industrial, rail and transit markets.

Bradken Chief Executive Officer Sean Winstone said the divestment allowed Bradken to focus on customers in mining and resources, cementing its reputation as the preferred partner for innovative wear solutions for mining equipment.

“Congratulations to TerraMar for their purchase. I look forward to seeing SPNAM succeed under their guidance and support,” Mr Winstone said.

“We’ll ensure the transition is smooth and without interruption to its valued customers.

Kroll Securities, an independent provider of risk and financial advisory solutions advised Bradken through this transaction.

Bradken’s focus is now firmly set on its customers in mining and the broader resources sector.

“Our recent manufacturing investments in the Americas, demonstrates that our mining customers are at the core of our future,” Mr Winstone said.

“We’re committed to solving our customer’s wear challenges quickly and reliably with an expansion of our Fixed Plant site in Edmonton, Canada, our recent acquisition of composite mill liner capability in Lima Peru, and we’re building a brand new foundry in Chilca Peru.

“The Americas is an area of great opportunity for Bradken and we are confident our customers in the region will benefit from these investments we are making.”

SPNAM operates from three key sites

Tacoma, Washington USA

Atchison, Kansas and St Joseph, Missouri USA

London, Ontario, CAN

With a small corporate office in Kansas City.

It’s been a part of Bradken’s portfolio of businesses since 2008.