Dallas-based private equity firm Crossplane Capital has bought Ohio-based Hynes Industries, a producer of custom roll-formed steel products, adviser Brown Gibbons Lang & Co. announced.
The companies said the new partnership with Crossplane Capital will further accelerate Hynes’ growth in end markets. Terms of the deal were not disclosed.
Founded in 1925 and based in Youngstown, Ohio, with additional manufacturing facilities in Painesville, Ohio, and Kokomo, Indiana, Hynes is a manufacturer of precision-engineered roll-formed metal parts and assemblies for diverse end markets including automated material handling, truck trailers, solar, and general industrial.
With more than 75 roll-form mills across nearly 500,000 square feet of space, Hynes said it utilizes state-of-the-art technology in design and engineering to deliver quality fabricated metal products to customers throughout North America, BG&L said.
The new partnership will further accelerate Hynes’ growth in end markets where there is a rising demand for automation and modernization in warehouse operations. Partnering with Crossplane enables Hynes to build upon and accelerate the ongoing investment in the processes and equipment, the company said.
BG&L said that Hynes also will be able to advance the commitment to deliver greater value to customers.
GB&L’s Metals & Advanced Metals Manufacturing investment banking team served as the exclusive financial adviser to Hynes in the transaction.
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