Elyria Foundry to start roadshow Monday for $100 million five-year notes via Jefferies

By Paul A. Harris

St. Louis, Feb. 1 - Elyria Foundry Co. LLC and EH Acquisition, Inc. will start a roadshow on Monday for a $100 million offering of five-year senior secured notes (B3/B), according to an informed source.

The roadshow is expected to run into the week of Feb. 18.

Jefferies & Co. is the bookrunner for the Rule 144A and Regulation S offering.

The notes will come with three years of call protection, a three-year 35% equity clawback and a change-of-control put at 101.

Proceeds will be used to finance the acquisition of Hodge Foundry, Inc., a Greenville, Pa., firm founded in 1876 that has established itself as a leading producer of large, highly engineered gray and ductile iron castings, primarily for power generation and mining and minerals processing.

The issuing entities will be merged with and into Hodge.

Elyria Foundry is an Elyria, Ohio-based producer of complex, highly engineered gray and ductile iron castings of up to 50,000 pounds for critical applications in vital, domestic-sourced industries. The company also provides value-added services such as concurrent engineering, stocking, heat treating and painting.

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