According to an announcement from the firm, Union Partners, the acquisition of the Gibraltar, Mich., USA, facility will help solidify the presence of its portfolio companies in the automotive market. The facility sits next to its Lee Steel service center in Gibraltar.

"One of the biggest motivations for us in starting Union Partners was to identify and support – both financially and operationally – opportunities in the metals industry where innovation is alive and well," said Union Partners founders Chris Hutter and Paul Douglass in a joint statement.

"This testing facility deepens our commitment to the next generation of steel products. It also deepens our commitment to our mills and customers as we all work together to understand the vast capabilities of these new materials."

The 9,500 square foot facility was built in 2005 to house Heidtman's automotive technical and commercial teams. Union Partners said it will make the facility the centerpiece of its testing and research efforts, particularly in working with both steel mills and OEMs to bring advanced high-strength and ultrahigh-strength steels to the marketplace.

The acquisition also will allow for a potential future expansion of the Gibraltar service center.