Virtus Industries acquires brass, aluminium tube maker Arzon

Virtus Industries has acquired Canada-based brass and aluminium tube maker Arzon Ltd, 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 favor of local suppliers in an effort 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.

According to David Lilley, Drakewood founder and chief executive officer, the economy...


Andrea Hotter

October 09, 2020

02:51 GMT

New York