Summit Equity Group Acquires CAI Custom Alloys

Summit Equity Group, a Des Moines-based private investment firm, has acquired CAI Custom Alloys, Inc., a Belvidere, Illinois processor of high-performance superalloy scrap. The transaction — advised by Dresner Partners — will allow CAI to accelerate market penetration and expand its capabilities supplying nickel-, cobalt- and specialty-superalloy materials to aerospace and high-performance industrial customers; financial terms were not disclosed.