LFM Capital Announces New Investment in Attachment Manufacturer: IronCraft
NASHVILLE, TN – August 18, 2022 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today its investment in IronCraft, LLC (“IronCraft”). The transaction closed in November 2021 and the terms of the transaction were not disclosed.
IronCraft, formerly branded Titan Implement, is a leading manufacturer of agricultural implements and skid steer attachments utilized on small tractors, skid steer loaders, and compact loaders. IronCraft’s products are sold through the company’s dealer network spanning more than 40 states and used for a variety of applications, including agriculture, landscaping, light construction, and more.
As part of the IronCraft acquisition, Pat Kozlowski and Arden Schwandt will join the executive team as CEO and CFO, respectively, replacing Titan founders Mike Turner and Baily Turner who are pursuing other endeavors. Kozlowski joins after a successful 30-year career at Caterpillar Inc., where he served in a variety of managerial roles across compact construction equipment and ground engaging tools leading dealer channel strategy and product development. Schwandt was most recently CFO of an Oklahoma-based building products manufacturer. Previously, he spent nearly 20 years at The Charles Machine Works Inc., serving in a variety of accounting and finance roles in both corporate and dealership settings.
LFM Managing Director Dan Shockley commented, “We are thrilled to add IronCraft to the LFM portfolio. The company’s strong historical growth is a testament to its value proposition to dealers and end users, and we believe the diversified skid steer and tractor attachments industry will continue to grow in size and scope.”
IronCraft CEO Pat Kozlowski stated, “I am excited to join the IronCraft organization. We will remain focused on being a valued partner to our IronCraft dealers and end users by providing quality products and a superior customer experience that emphasizes transparency and simplicity. We will also continue to invest in IronCraft’s growth to support both existing and new customers.”
Operating Partner Ken Hoefling, VP Russ Aiken, and Senior Associate Alex Weinstein worked with Shockley on the investment from LFM. Jessica Ginsberg, LFM Managing Director, Business Development, helped source the opportunity.
About LFM Capital
LFM Capital is a private equity firm based in Nashville, Tennessee. 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 targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million. The firm’s mission is to partner with portfolio company management to develop and build world-class operations through a combination of manufacturing and operations excellence and targeted growth and expansion strategies. For additional information, please visit www.lfmcapital.com.
About IronCraft
IronCraft, LLC, founded in 2014 under the Titan Implement brand by the Turner family, is a leading manufacturer of agricultural implements and skid steer attachments catering to a variety of applications such as agriculture, landscaping, light construction, and more. Based in east Tennessee, IronCraft offers an extensive range of rotary cutters, rotary tillers, box blade scrapers, grader blades, landscape rakes, disc harrows, and skid steer attachments. For more information, please visit www.ironcraftco.com.