Charter acquires Wisconsin iron foundry

Mequon, Wisconsin-based Charter Manufacturing has announced its acquisition of Aarrowcast Inc., a maker of gray and ductile iron castings in Shawano, Wisconsin. Aarrowcast, which was privately held, produces more than 42,000 tons of castings annually, according to Charter.

A video foundry tour posted to the Aarrowcast website shows ferrous scrap being moved with a lifting magnet and placed into melting vessels for conversion into new cast components at its Shawano foundry.

“As a growth company, we continually evaluate opportunities to enhance our business,” says John W. Mellowes, CEO of Charter Manufacturing. “This acquisition expands our metals manufacturing offerings and will increase diversification of both our customer base and end markets.”

Charter describes Aarrowcast as “North America’s premier green sand foundry,” offering a range of iron castings to OEMs and tier 1 supplier customers in the agricultural and off-road equipment, compressor and hydraulics, defense, construction and mining sectors, among others.

“Becoming part of Charter Manufacturing is a good strategic and cultural fit for Aarrowcast,” says Randy Brull, president and CEO of Aarrowcast. “Both companies are passionate about metals manufacturing and are committed to customer service, product innovation and growth. We are excited about working together and what the next chapter will bring.”

Aarrowcast will operate as Charter Aarrowcast, joining Charter’s existing family of metals production businesses: Charter Automotive, Charter Dura-Bar, Charter Steel (which operates scrap-fed electric arc furnace mills in Cleveland and in Saukville, Wisconsin) and Charter Wire. Mellowes said Brull will continue to lead the Aarrowcast business and will report to Bob Venable, president and chief operating officer of Charter Manufacturing.

This transaction was supported by Boston-based Citizens Capital Markets Inc., which Charter says served as the exclusive financial advisor to Aarrowcast.