Pittsburgh, Pennsylvania – Tecum Equity Partners (“Tecum Equity”), is pleased to announce its support of Cliff Forrest’s, an Armstrong County business owner, majority investment in Oberg Industries. This investment was made through Mr. Forrest’s family office investment platform, Western Allegheny Capital, which is managed by Tecum Equity.
Oberg Industries is a full-service contract manufacturer of precision machined and stamped components located north of Pittsburgh, PA. Eric Oberg, son of the company founder, Don Oberg and previous majority owner will remain involved in the business as a minority shareholder.
The investment will help position the company for further growth and expansion.
Terms and details of the transaction are not being disclosed.
Jones Day served as counsel to Western Allegheny and Tecum Equity Partners.
Debt financing for the transaction was provided by Citizens Bank and S & T Bank.
About Tecum Equity Partners
Tecum Equity Partners is a committed fund backed by a family office, Western Allegheny Capital, focused on making control equity investments in middle market companies. The fund is managed by Tecum Capital Management, a private investment firm with over $500 million of committed capital focused on providing mezzanine debt, subordinated notes, and private equity to middle market companies including its SBIC fund, Tecum Capital Partners II, L.P. Since 2006, Tecum has invested in over 80 platform and add-on acquisitions across its managed funds. The firm is focused on providing financing for recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital needs. Tecum Equity Partners is headquartered in Pittsburgh, Pennsylvania. For more information, please visit www.tecum.com.
About Oberg Industries
Headquarter just north of Pittsburgh, PA, Oberg Industries is a diversified manufacturer with over 900 employees worldwide specializing in the production of advanced, precision machined or stamped metal components and precision tooling. Oberg’s global manufacturing footprint includes operations in Pennsylvania, Illinois, and Costa Rica. Each manufacturing facility is ISO certified and operated under one or more of the following standards: ISO 9001:2015, ISO 13485:2003, and AS 9100:2009 Rev. D. Oberg is a strategic contract manufacturing partner for companies in the Aerospace, Automotive, Consumer/Industrial Products, Defense, Energy, Construction and Housing, Medical Device, and Metal Packaging markets. The company’s website is www.Oberg.com.