Watermill - Latrobe Specialty Steel

Division: Phoenix Management Services


Watermill Ventures engaged Phoenix to perform an acquisition due diligence review on Latrobe Steel, a $350 million manufacturer and distributor of high-performance steels for aerospace and other structural applications.


Phoenix worked closely with Latrobe senior management as well as the principals from Watermill Ventures in order to understand and analyze the company’s performance and the impact that the global steel markets might ultimately have on Latrobe’s forecasted business. Phoenix recommended that Watermill, its various equity sponsors and secured debt participants proceeds with their intended acquisition.


Watermill Ventures proceeded with the purchase and is enjoying favorable margins.