Afton, TN, January 4, 2011 – Delfasco, LLC announces their reemergence into the U.S. and international defense market. The company, formerly known as Delfasco of Tennessee, recently received an infusion of capital from a New York-based private equity firm, ending an entanglement in the bankruptcy of its sister company, Delfasco Forge. Soon after the reorganization, the Afton, Tennessee-based company was awarded a five-year contract with the United States Army.
In 2010 Delfasco emerged from the bankruptcy of Delfasco Forge, a sister company based in Texas. The bankruptcy stemmed from a lawsuit over contaminated groundwater at a property owned by Delfasco Forge that was unrelated to the operations of the Tennessee-based division. Delfasco of Tennessee maintained its production and delivery schedule throughout the process, and in May 2010 the company was purchased by a private equity firm attracted to its long history and future prospects.
In an article published after completion of the reorganization, The Greenville Sun noted Delfasco's sterling reputation for its products and services: "The company has been honored frequently over the years for the quality of its products and its ability to manufacture them on time and on budget." With new management and a new capital infusion, Delfasco, LLC will continue to build on its history as a leading supplier of defense products for the United States military and other clients worldwide.
For more information contact
Jack Monoker
Senior Vice President, Business Development and Marketing
347-532-3245
jmonoker@delfasco.com