Livingstone completes two deals for AAA Sales & Engineering

Advises precision machining company on WI Chapter 128 Receivership Sale to Liancheng (USA), Inc. and Metal Technologies of Indiana LLC
  • mrt. 2021
  • Industrial
  • Special Situations
  • M&A: Sell-Side
  • US

Livingstone is pleased to announce two sale transactions for AAA Sales & Engineering (“AAA” or the “Company”).  The assets related to AAA’s Wisconsin operations were sold to Liancheng (USA), Inc. (“Liancheng”), and the stock of the Company’s Mexico operations was sold to Metal Technologies of Indiana LLC (“MTI”).  The transactions were consummated pursuant to Chapter 128 of the State of Wisconsin Statutes.  Livingstone acted as the exclusive financial advisor to AAA.

Founded in 1968, AAA is a leading provider of high-precision, production machining services.  With its foundation manufacturing complex and precision machined components, AAA evolved into a sole-sourced Tier I and Tier II supplier of products to blue-chip customers serving a variety of industries.  The Company’s comprehensive suite of services includes material sourcing, machining and grinding, and complementary capabilities such as metallurgy, precision assembly, non-destructive testing, and cradle-to-grave part number management of iron, steel, aluminum, and stainless castings & forgings.

Headquartered in Jining, China, Shandong Liancheng Precision Manufacturing Co., Ltd and its North American subsidiary, Liancheng (USA), focus on the development, design, production, and sales of precision castings such as cast iron and aluminum alloy.  The acquisition of AAA’s Wisconsin Operations increases Liancheng’s global presence and strategic goal to serve its multi-national customers on a global basis.  Liancheng has agreed to hire substantially all of AAA’s Wisconsin employees.

Headquartered in Lebanon, Indiana, MTI is a premier metal castings company with a production focus on high-quality gray iron, ductile iron, austempered ductile, aluminum die-cast and value-added machining for a wide range of industries.  The acquisition of AAA’s Mexican Operations bolsters MTI’s already strong presence in San Luis Potosi, Mexico.

Livingstone Partner Joe Greenwood stated, “We are incredibly happy for the AAA employees and stakeholders.  To be able to deliver two quality going-concern transactions within the confines of a highly-competitive Wisconsin 128 receivership sale process was a great result for all parties involved.

The sale of AAA highlights Livingstone’s unique ability to achieve exceptional outcomes in otherwise very challenging situations.

Michael S. Polsky of Beck, Chaet, Bamberger & Polsky, S.C. was the court-appointed Receiver, and Conway Mackenzie served as the restructuring advisor to AAA.


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