LFM CAPITAL ACQUIRES HEARTLAND STEEL PRODUCTS GROUP
NASHVILLE, TN – February 15, 2017 – LFM Capital, a private equity firm focused on growth oriented, lower middle market manufacturing and industrial services businesses, announced today that it has acquired Heartland Steel Products Group.
Heartland, headquartered in Oak Brook, Illinois with four manufacturing facilities in Marysville (MI), Marlette (MI), Harrison (OH), and Lodi (CA), offers innovative material handling solutions to manufacturing, distribution and warehouse facilities throughout the country. Under its SpaceRAK® brand, Heartland designs, engineers and manufactures an array of steel pallet racking systems and products. With its Heartland Engineered Products (or “HEP”) brand, Heartland offers engineered structural steel platforms and mezzanine systems, which are used primarily for facility space utilization and conveyor support. Heartland also manufactures safety products and other material handling accessories.
LFM Executive Managing Director Steve Cook commented, "Heartland is a well-positioned company in an area of growing demand. We look forward to working with the team at Heartland on investing in their manufacturing capabilities, optimizing workflow within their facilities, and recruiting additional engineering and leadership talent that will allow them to increase their capacity and capabilities."
Heartland’s products and services are integral to facility material handling management. As such, it stands to be a beneficiary of the increasing need for sophisticated fulfillment centers, much of which is attributable to the growth of e-commerce and consumer demand for next day delivery.
Heartland CEO Pat Peplowski noted, "Heartland’s reputation for quality, national footprint, and outstanding team enable it to serve the most demanding blue chip customers. We are excited to partner with LFM to leverage their networks with customers and operational talent. In addition, this partnership will allow us to invest in our manufacturing capabilities so that we can effectively leverage our nationwide footprint to provide competitive solutions across the full product range."
About LFM Capital
LFM Capital is a Nashville-based private equity firm focused on private lower middle-market U.S. manufacturing and industrial services companies with outstanding growth prospects. LFM currently manages a $110 million private equity fund that targets lead or control investments in market-leading niche manufacturing and industrial services companies with enterprise values in the range of $15 million to $75 million. The LFM team is led by experienced and successful Fortune 50 global executive managers and private equity professionals who bring decades of management leadership, operating best practices, exceptional professional recruiting networks, and a successful track record in lower middle-market investing. LFM partners with management teams to drive business value through a combination of manufacturing and operations excellence, world-class executive management, and targeted growth and expansion strategies. For additional information, please visit www.lfmcapital.com.
About Heartland Steel Products Group
Heartland Steel Products Group offers innovative material handling solutions to manufacturing, distribution and warehouse facilities throughout the country. Heartland is headquartered in Oak Brook, Illinois and has four manufacturing facilities in Marysville (MI), Marlette (MI), Harrison (OH), and Lodi (CA) that serve an impressive roster of blue chip customers. Learn more about Heartland at www.heartlandsteel.com.