LFM Capital-Backed SteelPro Acquires Assets of CoBuilt
NASHVILLE, TN – January 11, 2024 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today that an affiliate of SteelPro, LLC (“SteelPro”) acquired the assets of Memphis-based CoBuilt, LLC (“CoBuilt”) and certain affiliated entities. Terms of the transaction were not disclosed.
SteelPro, headquartered 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.
Jeremy Harrell, SteelPro Founder and President, commented, “This acquisition expands and enhances our fabrication capabilities by adding a second SteelPro manufacturing location.”
Jim Clark, SteelPro Chief Operating Officer, continued, “This second facility will allow SteelPro to capitalize on the growing commercial structural steel market in and around the Memphis area.”
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 SteelPro
Headquartered 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.