SOUTHLAKE, Texas and INDIANAPOLIS, Indiana – September 3, 2019 – Insight Equity Holdings LLC (“Insight Equity”), a leading middle-market private equity firm, is pleased to announce the sale of its portfolio company, Versatile Processing Group, Inc. (“VPG”), to Venture Metals and affiliates of Mill Rock Capital Management LP.
Headquartered in Indianapolis, Indiana, VPG is an industrial processor of non-ferrous and other metals servicing the manufacturing, electric utility, and metal recycling industries. VPG sources, processes, and manages a variety of valuable metals, with an emphasis on copper-based metals.
“We are very proud of what we have accomplished together with the VPG management team,” commented Ted Beneski, CEO and Managing Partner of Insight Equity. “Through our collaboration, the Company has significantly enhanced its processing capacity and expanded its strategic sourcing capabilities while remaining a go-to supplier for its key customers."
Luke Bateman, Senior Vice President at Insight Equity, added, “We greatly appreciate the significant contribution of the VPG management team and all of the VPG employees in making this a successful investment for Insight Equity. The tremendous growth experienced by VPG since our initial investment is a testament to the hard work and dedication of all those involved.”
Versatile Processing Group, Inc. is a state-of-the-art scrap processing company. The Company offers one of the broadest suites of value-added services, including sorting, chopping, shredding, bailing, grading, shearing, torching, briquetting, inspecting, de-tinning, de-oiling, and other services. VPG was founded in 1999 and is based in Indianapolis, Indiana. The company has subsidiaries in Des Plaines, Illinois; Nabb, Indiana; and Wills Point, Texas.
Insight Equity makes control investments in strategically viable, middle-market manufacturing and distribution businesses across a wide range of industries. Leveraging a proven, collaborative value creation model, Insight Equity facilitates operating enhancements and growth. The firm specializes in partnering with companies in complex or challenging situations, including corporate divestitures, management buyouts, aggressive growth opportunities, going-private transactions, restructurings, and transitions from family ownership. Insight Equity is headquartered near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.