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Today: July 14, 2024
January 12, 2024
1 min read

Texas-Based Crossplane Capital Expands Portfolio, Acquires Ohio Steel Manufacturer

TLDR:

Dallas-based private equity firm Crossplane Capital has acquired Ohio-based Hynes Industries, a manufacturer of precision-engineered roll-formed metal parts and assemblies. The partnership with Crossplane Capital will help Hynes Industries accelerate its growth in end markets, particularly in areas where there is a rising demand for automation and modernization in warehouse operations. The financial terms of the deal were not disclosed.

Crossplane Capital, a Dallas-based private equity firm, has acquired Hynes Industries, a manufacturer of roll-formed steel products. The financial terms of the deal were not disclosed.

Key points:

  • Dallas-based private equity firm Crossplane Capital has acquired Ohio-based Hynes Industries, a manufacturer of precision-engineered roll-formed metal parts and assemblies.
  • The partnership with Crossplane Capital will help Hynes Industries accelerate its growth in end markets, particularly in areas where there is a rising demand for automation and modernization in warehouse operations.
  • The financial terms of the deal were not disclosed.

Dallas-based private equity firm Crossplane Capital has acquired Hynes Industries, an Ohio-based manufacturer of precision-engineered roll-formed metal parts and assemblies. The financial terms of the deal were not disclosed. Hynes Industries, founded in 1925, is known for its expertise in producing custom roll-formed steel products for various industries, including automated material handling, truck trailers, solar, and general industrial. The company has more than 75 roll-form mills across nearly 500,000 square feet of space and utilizes state-of-the-art technology in design and engineering to deliver quality fabricated metal products to customers throughout North America.

The partnership with Crossplane Capital will allow Hynes Industries to further accelerate its growth in end markets, particularly in areas where there is a rising demand for automation and modernization in warehouse operations. Crossplane Capital brings expertise and resources that will support Hynes Industries in building upon and accelerating its ongoing investment in processes and equipment. This partnership will enable Hynes Industries to deliver greater value to its customers and strengthen its position in the market.

Brown Gibbons Lang & Co., an investment banking team, served as the exclusive financial adviser to Hynes Industries in the transaction. The acquisition by Crossplane Capital highlights the continued interest and activity in the manufacturing sector, as companies seek to expand and position themselves for future growth. The financial terms of the deal were not disclosed.

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