Alderman Enterprises, a Chattanooga-based evergreen investment firm, announces the acquisition
of its fifth portfolio company, Micro Metals, Inc. Located in Jamestown, Tn., Micro Metals is a manufacturer of powder metal parts serving the automotive and general manufacturing
industries.
Founded in 1976, Micro Metals has grown to nearly 100 employees and has built a reputation for producing the highest quality powder metal parts, a unique and economical process for creating high-volume, lightweight and durable components for broad applications, officials said.
Ben Brown, founder and partner of Alderman Enterprises, said, "Micro Metals represents exactly what we look for in an Alderman business - a successful, well-run operation backed by a strong leadership team and talented employee base. The company has specialized equipment and know-how to deliver world class products to its long-established customer base. And, importantly, Micro Metals is a respected and engaged participant in the Jamestown community.”
Scott Edwards, CEO of Micro Metals, commented, “I feel very blessed to have entered into this agreement with Alderman Enterprises. Not only will their purchase of the Edwards’ family business allow me to focus on other interests, more importantly, it will assure the continued growth and prosperity of Micro Metals for our customers, our employees and the local community.”
Mr. Edwards continued, “I’m more than confident the firm will maintain its preeminent position in the powder metal industry, while continuing to be a valuable asset to Fentress County. Alderman’s leadership combined with Micro’s current, talented staff is a definite recipe for success.”
Mr. Brown added, "We're grateful to Scott Edwards for entrusting us with the Micro Metals legacy of business excellence and community engagement. We’re excited to expand upon this legacy to realize new levels of success for the company and its employees, customers and community.”