JW Aluminum proactively positions its balance sheet for growth

JW Aluminum Company announced that a majority of its shares have been acquired by a group of leading institutional investors, including business development companies managed by Franklin Square Capital Partners and sub-advised by an affiliate of Blackstone’s GSO Capital Partners LP (“GSO”). The group also provided financing to effect a recapitalization of the company.

The recapitalization competitively positions the company in the flat rolled aluminum market, reinforces its status as a long term domestic producer and furthers its ability to deliver exceptional value to its customers.

Commenting on the transaction, Chief Executive Officer, Lee McCarter said “With the completion of this transaction, JWA has secured a lower cost capital structure that enhances our competitive position in the market for flat rolled aluminum. We now have an appropriate level of leverage, prospects for strong cash generation and greater ability to invest in capabilities and services that will enhance our customers’ experience.”

Also commenting on the transaction was Brad Colman, a Principal at GSO and company board member, who said “JWA is an attractive investment with a leading position serving end-markets that are in early stages of recovery. We are pleased to have completed this transaction and to support the strategic plans of the current management team.”