"The closing of the acquisition … signifies our continued success investing in the industrial and automotive sectors, and I am thrilled to officially welcome the company into the Z Capital family," said James Zenni, Z Capital’s president and chief executive. 

"Over the years we have refined our expertise by investing in numerous companies in these sectors, including Bayou Steel, MSDP Group, PTC Alliance and Wise Metals Group, and we look forward to leveraging our knowledge to help (the businesses) continue their rapid expansion."

Collectively known as Premier Thermal Solutions, the heat treat businesses have plants in Ohio, Michigan, Indiana and Wisconsin. Atmosphere Annealing sells heat treating and related services into the automotive, trucking, oil and gas, agriculture, heavy construction and military markets. NitroSteel provides makes ferritic nitrocarburized bars used utilized primarily in fluid power applications in the agricultural, construction, mining, marine, utility and automotive markets.

Z Capital, which announced the acquisition in March, said the businesses plan to expand by adding new customers, through strategic acquisitions and by diversifying into other end markets. 

"We are pleased to have closed the acquisition and are excited about the growth opportunities ahead for Premiere Thermal Solutions," said Rahul Sawhney, Z Capital’s senior managing director. "The company's high-quality product and services offerings, coupled with Z Capital's specialized sector knowledge and operational expertise, position Premiere Thermal for long-term success.”