10 OCTOBER 2020AlCircle.com
US precision tube manufacturer Virtus acquires Canadian aluminium and brass tube maker Arzon
Edited by : Rupankar Majumder
1 min read
Virtus Industries has acquired Canada-based brass and aluminium tube maker Arzon Ltd.
The purchase is aided by a direct investment by global alternative investment manager Ares Management Corp.
The acquisition of Arzon, located in Burlington, Ontario, was made through Virtus subsidiary STP Holdco and comes at a time when companies are moving to diversify in favour of local suppliers to increase supply chain security.
Investors in Virtus include Ares, metals industry investment specialist Drakewood Capital Management and commodity and basic industries asset management firm Ospraie Management.
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