SMG Group announces the acquisition of Hunter Foundry Machinery Corporation, the world leader in matchplate molding machines, mold handling equipment and sand casting technology for the global foundry market. The acquisition was finalized on July 24, 2024 at Hunter headquarters in Schaumburg, Illinois (Chicago).
Manny Gandhi, CEO of SMG Group, expressed his thoughts about this strategic move for his firm: “Bringing Hunter into the SMG portfolio is a significant milestone and an exciting new venture for us. We are committed to maintaining the Hunter family legacy, while infusing essential capital for global growth and enhancing the existing Hunter management team with top-tier talent. Our goal is to provide ongoing world-class service to Hunter customers, supporting their growth and contributing to their success with the engineering expertise, quality equipment and foundry production talents that have made Hunter a leader in the industry for decades.”
Bill Hunter, the former chairman of Hunter, notes: “This transition for Hunter will result in increased capabilities for the company, while maintaining our core strengths. Manny and his team will bring considerable value to the overall Hunter operation, and we look forward to ongoing success from this decision. My son Doug will carry on the legacy traditions started by my dad, Al Hunter, who founded the company in 1964, with Doug bringing his 25 years of experience to the new team.”
The Management Team remains
“Our current president, Peter Li, who headed up our Shanghai operation and has been a key component in this transition, will likewise remain in the Hunter family. We have been blessed with long-term employees who know the industry and our company’s ability to serve it. That gave me a very positive outlook in making this decision.”
The new SMG Group management team along with the existing Hunter management team are 100%-committed to providing value including delivery timelines which meet clients’ individual and business goals. Hunter is a global force in the foundry business, with an installed base in nearly every industrialized country in the world. In addition to its machinery manufacturing location in Chicago, Hunter has a worldwide network of sales agents, application engineers and support service personnel.
The company was founded in 1964 by Al Hunter, who pioneered the automated matchplate molding machine concept and held dozens of patents in the industry. His son Bill, the former Chairman, who will remain in a consulting role during this transition, likewise developed numerous innovations in sand molding machine and mold handling equipment technology for the global foundry market. Bill’s son Doug and his two siblings will retain a minority equity interest at Hunter, going forward. Doug is well-known in the foundry business, having spent the last decade in manufacturing, sales and customer service.
