Heartland Steel designs, engineers and manufactures structural steel platforms and steel pallet racking systems and products that are sold to manufacturing, distribution and warehouse facilities throughout the country. The company’s products, sold under the SpaceRAK and Heartland Engineered Products brands, are used primarily for space utilization and conveyor systems support. Heartland, led by CEO Pat Peplowski, is headquartered in Oak Brook, IL with four manufacturing facilities in Marysville, MI; Marlette, MI; Harrison, OH; and Lodi, CA (www.heartlandsteel.com).
According to LFM Capital, Heartland’s products and services are integral to facility material handling management and stand to benefit from the increasing need for sophisticated fulfillment centers, much of which is attributable to the growth of e-commerce and consumer demand for next day delivery. “Heartland is a well-positioned company in an area of growing demand,” said LFM Executive Managing Director Steve Cook. “We look forward to working with the team at Heartland on investing in their manufacturing capabilities, optimizing workflow within their facilities, and recruiting additional engineering and leadership talent that will allow them to increase their capacity and capabilities.”
LFM Capital is based in Nashville and invests in US-based manufacturing and industrial services companies that have revenues from $10 million to $100 million and enterprise values from $15 million to $75 million. LFM was formed in May 2014 by Steve Cook, Executive Managing Director; Rick Reisner, Managing Director; and Dan Shockley, Managing Director. The firm closed its first fund, LFM Capital Partners, LP, with $110 million in capital commitments in October 2014 (www.lfmcapital.com).
© 2017 Private Equity Professional | February 15, 2017