Indianapolis metal fabricator sold to Pennsylvania company

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Indianapolis-based Mi-Tech Tungsten Metals LLC is under new ownership. The company, which makes components from heavy tungsten alloys for a variety of industries, has been acquired by Towanda, Pennsylvania-based Global Tungsten & Powders Corp.

Financial terms were not disclosed.

Mi-Tech,  4701 Massachusetts Ave., was previously owned by Periculum Capital Co. LLC, an investment banking firm headquartered in Carmel. Periculum said it had been working with Mi-Tech since December 2019 to find a buyer that could strengthen the company’s global supply chain and realize “significant strategic synergies.”

The acquisition of Mi-Tech closed on Nov. 15.

Mi-Tech employs nearly 100 people in Indianapolis. The company did not specify if any jobs would be affected by the acquisition.

GTP is a supplier of tungsten powders and semi-finished parts, according to its website. The company is the U.S. affiliate of Austria-based metal producer The Plansee Group.

“With the acquisition of Mi-Tech, we are further expanding our market position for tungsten products in North America,” Karlheinz Wex, spokesman for the Plansee Group executive board, said in written remarks. “Customers will benefit from a broader range of products and services in the future.”

Mi-Tech manufactures tungsten alloy products for the aerospace, medical, oil and gas, machine shop, and defense markets.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In