LFM Acquires Tower Support Services

LFM Acquires Tower Support Services

EDSCO Fasteners, a manufacturer of anchoring systems for securing large structures and a portfolio company of LFM Capital, has acquired Tower Support Services. LFM Capital acquired EDSCO in January 2017 from Boca Raton-based Validor Capital.

Tower Support Services (TSS) is a manufacturer and supplier of foundation systems used in the electrical transmission, substation, wind energy, lighting, and communication markets. The company, led by President Craig Schaal, is headquartered in McKenzie, TN (www.towersupportservices.com).

EDSCO is a supplier of foundation anchoring systems for power transmission poles and substation structures. The company’s anchoring systems – which range from specialty fabricated bolts to highly-engineered anchoring cages – are typically embedded in concrete foundations and are engineered to allow structures to be securely placed on top of the foundations. EDSCO is headquartered in Denton, TX with additional facilities in Spanish Fork, UT and Harrisburg, NC (www.edsco.com).

“As EDSCO is continually looking for ways to improve our level of service and value-add options for our customers, TSS’s capabilities and geographic location proved to be a perfect opportunity for us to expand our geographic footprint and service capabilities,” said Richard Butler, President of EDSCO. “We are thrilled to add a Tennessee facility to complement EDSCO’s footprint in Texas, Utah, and North Carolina.”

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 with $110 million in capital commitments in October 2014 (www.lfmcapital.com).

© 2018 Private Equity Professional | March 5, 2018

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