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Applied Process Takes on Majority Interest Partner

Issued at 2014-12-24



—Applied Process Inc. (AP) has taken on HighStreet Capital (HSC), Chicago, Ill., as a majority interest equity partner. Thismove adds essential resources that will not only expand the company’scapabilities, but will also continue to improve their industry-leading service andallow them to expand even more geographically.

High Street Capital is a private equity firm that has been partnering with andgrowing successful companies since 1997. High Street finds differentiatedcompanies and provides equity and experience to build winning businesses withstrong growth prospects.

Dick McClain, an HSC principal, explained that they are investing in AppliedProcess because they believe in the management, the people and the business.“The High Street Capital partners are looking forward to working with theworld-class leadership team and employees at AP and to continue ‘growing thepie for Austempering,’” he said.

John Keough, AP’s founder, stated, “We are pleased to have a strong partner inHigh Street Capital going forward. I plan, as always, to be actively engaged inthe growth of the business and the profitable conversion of components fromone material/process combination to a better, faster and cheaper one.

”Applied Process Inc. was incorporated in 1984 as a stand-alone division ofAtmosphere Group in Wixom, Mich., before President John (Chip) R. Keoughmoved them to their current address in Livonia. In 1993, Keough transitionedout of Atmosphere Group, and he, along with his wife and kids, became 100percent owners. Because of the demand for AP’s Austemper-focusedtechnologies, the company expanded to AP Westshore in Oshkosh, Wisc.Recently they have added a Monster Parts™ plant in Oshkosh. 

Applied Process President John Wagner said, “Austempering offers ourcustomers a cost effective way to obtain stronger, lighter and less expensiveparts. We have been able to offer this practical and vendible experience inmany different countries as we keep expanding our international network toplaces like Australia, England, Canada, China and India.

”Applied Process’s extensive global network of industrial and technical contactsand resources are the backbone to AP’s reputation as a worldwide leader inAustempering technology.

About Applied Process: Applied Process Inc. is a worldwide family ofcommercial heat treaters specializing in the Austempering process. AppliedProcess makes iron and steel parts tougher, stronger, lighter, quieter and morewear resistant and is the world leader in the processing of Austempered DuctileIron (ADI). For further information visit www.appliedprocess.com


Source: Ductile Iron Society



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