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Reich Brothers Announces Purchase of Columbus Castings

August 19, 2016, 07:39 AM
Filed Under: Industry News

Reich Brothers, LLC announced that its wholly owned affiliate 476 Bridge Street LLC was the successful bidder for the assets of Columbus Castings in Columbus, OH. The purchase price including cash and other consideration is in excess of $30 million.
 
Reich Brothers’ Co-CEO Jonathan Reich stated, “Reich Brothers, the managing member of 476 Bridge Street, is looking forward to repositioning the facility, envisioning an environmentally clean mixed-use redevelopment, taking into consideration the desires and need of the community as well as our investors.”
 
Reich continued, “Ever mindful of the impact of the closing of the foundry, the company intends to employ a number of people at the facility to help effectuate a smooth transition. In addition, Reich Brothers, in conjunction with local partners, intends on holding a job fair to help provide for individuals that will be displaced as a result of the plant closure.”
 
Reich Brothers Holdings, LLC is a specialized provider of capital asset solutions. The company includes an acquisition division, Reich Brothers, LLC, which acquires turnkey manufacturing plants and provides for the bulk purchase of equipment packages and monetization through the auction sale process; a lending division, Reich Brothers Business Solutions, LLC, which provides term loans and sale-leasebacks customized to meet unique financial situations; and a decommissioning division, Reich Brothers Decommissioning, LLC. Reich Brothers Holdings, LLC is partnered with Victory Park Capital, a privately held registered investment advisor dedicated to alternative investing in middle-market companies across a diversified range of industries.





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