Advantage Capital has invested $2.5 million to support Adam Salmen's acquisition of a controlling stake in UMECC, enhancing the company's operations and service to the steel industry in Ohio.

Target Information

Advantage Capital, a prominent impact investment firm, has announced a $2.5 million investment aimed at facilitating entrepreneur Adam Salmen's acquisition of a controlling interest in the United Metallurgical Equipment Companies of Cincinnati (UMECC), located in West Chester, Ohio. UMECC specializes in providing a range of quality equipment tailored for integrated steel mills, mini mills, stainless and aluminum mills, as well as iron ore mines across North America. This investment allows UMECC to expand its operations in Ohio, thereby enhancing its service offerings to domestic steel manufacturers.

Founded nearly 30 years ago, UMECC has built a reputation as a trusted supplier to some of the largest steel mills globally. The company offers a comprehensive “one-stop shop” solution that simplifies the sourcing process for its clients. This approach includes advanced engineering expertise to custom design equipment for existing steel production lines, as well as the capability to implement modifications and upgrades essential for maintaining uninterrupted operations.

Industry Overview in Ohio

The steel manufacturing industry plays a significant role in Ohio's economy, contributing to job creation, infrastructure development, and overall economic growth. As one of the key states in the national steel production landscape, Ohio hosts numerous steel mills that rely heavily on advanced equipment an