Freestone Partners has partnered with management and ORIX Corporate Capital to acquire Cyclone Steel Services, a provider of steel plate processing services. Cyclone’s CEO, Steve Lesikar, will continue to run the company along with his existing senior management team, and he will continue to own a substantial share of the company.
Cyclone Steel Services specializes in precision cutting and value-added processing of steel plate for applications in the petrochemical and oil and gas industries. Cyclone’s cutting capabilities include oxy-fuel, plasma and high definition plasma cutting technologies. In addition, the company offers its customers several value-added secondary processes. Cyclone Steel Services is based in Houston (www.cyclonesteel.com).
Freestone Partners invests in companies in manufacturing, distribution, and commercial and industrial services. The firm’s geographic focus for platform investments is the southwestern and southeastern United States. The firm is based in Houston (www.freestonepartners.com).
ORIX Corporate Capital is a business unit of ORIX USA Corporation and provides debt and equity capital to small and mid-sized businesses in all industry sectors throughout the United States. For information on ORIX Corporate Capital click HERE.
Quarton Partners, a specialty investment banking firm serving privately held and publicly traded companies as well as private equity firms, acted as the exclusive advisor to Cyclone. Quarton assists its clients with mergers and acquisitions, private capital raising, restructurings, valuations, and other financial advisory services. The firm is headquartered in Birmingham, MI (www.quartonpartners.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-11-12