American Industrial Partners on Tuesday completed its purchase of the former Aleris Lewisport automotive body sheet plant. Under AIP ownership, the business has been renamed Commonwealth Rolled Products, recognizing and building on the more than half-century legacy of the Lewisport-based business.
The former owner of the business, Novelis, was required to divest the Aleris North American automotive and common alloy aluminum rolled products business, including the Lewisport plant and a research facility in Michigan to satisfy U.S. Department of Justice requirements.
Mike Keown, a native of Hancock County, will serve as president and CEO of Commonwealth Rolled Products.
“Under the Commonwealth Rolled Products name, we are building on our legacy and tradition supplying rolled products to industrial markets while setting a committed course toward excellence in automotive body sheet,” Keown said. “It’s an exciting time for our workforce as we build on these strong foundations by further investment and upgrades at the Lewisport facility.”
AIP is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989.
AIP has committed to undertake significant investments in the Lewisport production facility, in addition to other improvements throughout the enterprise.
“The Commonwealth team thanks AIP for their belief and support of the business,” Keown said. “We look forward to fully capitalizing on the opportunity created by AIP’s investments and continuing our strong commitment to our customers, employees, and communities.”
