Mill Rock Capital invests in DRT Holdings
Mill Rock Capital (Mill Rock), a growth and operations oriented private investment firm, has made a strategic growth investment in DRT Holdings (DRT), a manufacturer of specialised components, precision tools and container systems. Mill Rock’s investment will support the company’s operational and commercial growth.
Financial terms of the transaction have not been disclosed.
DRT focuses on highly complex and technically demanding machining applications in three operating segments: Container, Aerospace and Precision. The company operates ten facilities across the United States and Europe with state-of-the-art manufacturing equipment. DRT leverages specialised engineering know-how, deep market expertise, experienced technical teams, and sophisticated resource planning systems to meet the precision manufacturing requirements of its customers. The company’s comprehensive suite of products and services supports customers in industries and applications where high quality, technical expertise, reliable lead times and regulatory compliance are foundational requirements.
“DRT’s core value proposition of highly complex machining capabilities and superior customer service is more important than ever, and we look forward to expanding DRT’s product and service offerings to our loyal customer base. Our partnership with Mill Rock provides the strategic resources and financial strength necessary to meet our customers’ expanding needs,” says DRT’s Chief Executive Officer Gary Van Gundy. “We are excited to enhance our investment in DRT’s breadth of operational and technological capabilities to support our commercial growth vision.”
“DRT has a storied history of delivering high-value manufacturing solutions to its base of blue-chip customers, and we see an opportunity to accelerate growth in each of the company’s business segments and further support its customers around the world,” says incoming Executive Chairman and Mill Rock Senior Advisor Geoff Greulich. “We look forward to our partnership with Gary, Greg, and the entire DRT team.”
“We will continue to build on DRT’s strong foundation of technical capability and track record of growth across the three segments,” says Eric Byun, incoming Vice Chairman and Senior Partner at Mill Rock. “Within aerospace specifically, at a time when supply chain is challenged, we will also focus on growth and position DRT as the gold standard by supporting our customer base and expanding our suite of manufacturing and service capabilities.”
Sharma Rao, a Senior Principal at Mill Rock, will be joining DRT’s board of directors and will focus on commercial expansion and growth across DRT’s aerospace segment. In addition to Messrs Byun, Greulich and Rao, Jeffrey Long, Adi Pekmezovic, Christopher Whalen and Joseph Yorio of Mill Rock have joined DRT's board of directors.
Credit Suisse Securities (USA) LLC, Alvarez & Marsal Transaction Advisory Group and Covington & Burling LLP advised Mill Rock Capital on the transaction. Deloitte Corporate Finance LLC and Coolidge Wall LLP advised DRT.