New Castle Operations of Kennametal

Confluence Advisors, LLC (“Confluence”) acted as the exclusive sell-side advisor to Kennametal, Inc. (NYSE: KMT) (“Kennametal”) in the sale of its New Castle, PA operations, referred to as International Specialty Alloys (“ISA”) to Advanced Metallurgical Group, N.V. (AMS: AMG) (“AMG”).   

ISA is a producer of select ultra-pure, premium-quality custom metal alloys and metal-alloy powders for use primarily in niche segments of the aerospace and energy industries. ISA has two primary divisions, aerospace and specialty metals. The aerospace division manufactures titanium master alloys that are ultimately used in the production of titanium components for the aerospace industry. The specialty metals division manufactures both infiltration and binary alloys used in the manufacture of drill bit bodies for the oil and gas industry.  

Kennametal Inc. is a materials science, tooling and wear-resistant solutions company for the aerospace, earthworks, energy, general engineering and transportation industries. The company employs approximately 10,000 employees and has customers in more than 60 countries. Kennametal generated nearly $2.4 billion in revenues in fiscal 2019.   

AMG is a global critical materials company that produces highly engineered specialty metals and mineral products for the transportation, infrastructure, energy, and specialty metals & chemicals end markets. AMG Technologies produces titanium aluminides and titanium alloys. With approximately 3,300 employees, AMG operates globally with production facilities in Germany, throughout the world. AMG reported approximately $1.3 billion of revenue in fiscal 2018.