Prairie Capital Advisors Inc., a leading corporate finance advisory and investment banking firm, has announced that the US-based stainless steel plate operations of Outokumpu Oy have been acquired by management and D’Orazio Capital Partners, LLC and renamed New Castle Stainless Plate, LLC (NCSP). Prairie acted as the exclusive financial advisor to management and D’Orazio Capital Partners in the purchase of the company from the Finland-based parent.
After more than 45 years of Nordic ownership, management negotiated the purchase of the New Castle, Indiana-based quarto plate stainless steel mill and business operations and returned the company to American ownership. The new company, NCSP, is recognized for producing specialty and standard grades of stainless steel. Its end markets include infrastructure, transportation, power generation, heavy chemical industries and the oil & gas sector.