LFM Capital Portfolio Company Heartland Acquires SteelPro
NNASHVILLE, TN – November 17, 2022 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today that its portfolio company Heartland Steel Holdings, LLC (“Heartland”) has acquired SteelPro, LLC (“SteelPro”). Terms of the transaction were not disclosed.
Heartland manufactures material handling solutions used in manufacturing, distribution and warehouse facilities. Heartland’s product offering consists of pallet rack, engineered products (catwalks, ladders, mezzanines, platforms and stairs) and safety products. Heartland has been a portfolio company of LFM Capital since December 2016.
SteelPro, based in Houston, MS, designs and fabricates a variety of structural steel solutions for commercial, industrial and material handling applications. Founded by Jeremy Harrell, SteelPro relies on decades of experience to provide customers with an end-to-end solution spanning engineering, detailing, fabrication and installation. SteelPro’s customers consist primarily of material handling integrators and general contractors involved in the construction of infrastructure to support e-commerce fulfillment and material handling automation.
Heartland CEO, Brian Kaminski, stated, “We are excited about the capabilities and growth prospects that SteelPro brings to our combined business, particularly within our offering of engineered products. Jeremy and the SteelPro team have proven to be a valuable partner to their customers, and we intend to continue building upon that expertise.”
Jeremy Harrell, SteelPro Founder, added, “SteelPro has experienced tremendous growth, particularly over the last several years. Our partnership with Heartland provides SteelPro with access to additional resources, allowing us to collectively increase our capacity and deliver a higher level of service to our customers.”
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 Heartland
Heartland offers material handling solutions to manufacturing, distribution and warehouse facilities throughout the country. Heartland’s product offering consists of pallet rack, engineered products (catwalks, ladders, mezzanines, platforms and stairs) and safety products. Heartland has three manufacturing facilities in Marysville, MI, Harrison, OH and Lodi, CA. For additional information, please visit www.heartlandsteel.com.
About SteelPro
Located in Houston, MS, SteelPro designs and fabricates a variety of structural steel solutions for commercial, industrial and material handling applications. For additional information, please visit www.steelproms.com.