FAYETTEVILLE, Ark. (AP) -- An aluminum die-casting firm bought by a publicly traded company in 1996 has returned to private hands under its former name, Pace Industries Inc.
Leggett & Platt Inc. said Wednesday that it had sold its aluminum die-casting unit to its management and Kenner & Company Inc., a New York-based private equity firm that was the former owner of Pace.
Pace will maintain its headquarters at Fayetteville. The company has 19 manufacturing sites in 14 cities in the U.S. and Mexico, and is the largest privately owned custom non-automotive die-casting company in North America.
Scott Bull, chief executive officer of Pace, said he and other executives would begin a seven-day tour Friday of the company's sites to meet with plant managers, employees, media and local community leaders.
Leggett & Platt Inc. acquired Pace from Kenner & Co. in 1996.
The locations included in the transaction are at Loyalhanna, Pa.; Auburn, Ala.; St. Paul and Maple Lake, Minn.; Harrison and Jonesboro, Ark.; Chelmsford and North Billerica, Mass.; Dover, N.H.; Grafton and Oconto, Wis.; Monroe City, Mo.; and Saltillo and Chihuahua, Mexico.