Tell City plant included in Waupaca Foundry acquisition
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A Wisconsin-based manufacturer of iron castings with a presence in southern Indiana will soon be under new ownership. Waupaca Foundry Inc. is set to be acquired by Connecticut-based private investment firm Monomoy Capital Partners, though financial details are not being disclosed.
Waupaca makes iron castings for the automotive, commercial vehicle, agriculture, construction, and industrial markets. The company operates six iron foundries, including one in Tell City that has been in operation since 1997.
The Perry County facility employs 1,200 workers, a Waupaca spokesperson told Inside INdiana Business. She said no changes in leadership or staffing levels are expected.
“Waupaca Foundry is excited to start a new chapter with Monomoy…to continue to invest and grow our commitment to our customers, suppliers, and employees.” CEO Michael Nikolai said in a news release. “Together, we will focus on capitalizing on opportunities to expand and grow the business in a wide range of sectors in the Americas, including the automotive, industrial machinery, agricultural machinery, and construction machinery sectors, while building upon our legacy of success.”
Waupaca’s operations date back to 1871. The company employs more than 4,000 workers across its entire footprint.
Monomoy is acquiring the company from Japan-based Proterial Ltd. The deal is expected to close in early 2024.