For Immediate Release
Contact: Chris Tofalli
Chris Tofalli Public Relations LLC
Littlejohn Capital Announces Acquisition of Maysteel Industries
SAVANNAH, GA, April 25, 2017 – LJC Investments III, LLC, an investment vehicle controlled by Littlejohn Capital, LLC (“Littlejohn Capital”), today announced the acquisition of Maysteel Industries, LLC (“Maysteel”) from Revolution Capital Group, LLC.
Maysteel specializes in designing, engineering and manufacturing custom, precision, OEM sheet metal enclosures, electrical cabinets and metal fabricated assemblies. The company’s product solutions are widely used in the alternative energy, kiosk, gaming, security, medical, utility, industrial drive and automation, and self-serve/vending machine industries and are also found in a variety of other applications. Maysteel strives to provide the lowest total product cost by employing design for manufacturability (DFM) solutions throughout the product lifecycle. Maysteel was founded in 1936 and today has manufacturing locations in Allenton, Wisconsin and Monterrey, Mexico.
“This is very exciting news for the company, its employees, and customers,” said Kevin Matkin, Chief Executive Officer of Maysteel. “The Littlejohn Capital team has a long and successful track record of building industrial companies like ours. They understand our business and share our vision of building an even stronger company and we are confident we have the right partner to support our strategic growth initiatives.”
Angus C. Littlejohn Jr., founder and Chairman of Littlejohn Capital, said: “Maysteel and its management team has differentiated itself as a value-added supplier and we look forward to investments in the company that will leverage its metal fabrication engineering technology. The company operates in a fragmented market and we look forward to expansion in its core segments as well as adjacent markets with new products.”
Revolution Capital Group’s Founder and Managing Partner, Robert Loring Jr. said, ” Since our acquisition in 2013, Maysteel has experienced significant growth, which is a testament to our ability to partner with management teams and commit to sustained financial and operational improvements.” Aman Bajaj, Managing Director, led the transaction for Revolution Capital Group.
Morrison Cohen LLP served as Littlejohn Capital’s legal counsel.
About Littlejohn Capital
Littlejohn Capital is the family office of Angus C. Littlejohn Jr., co-founder of Littlejohn & Co., where he currently serves as Chairman. The platform seeks to make control investments in small to mid-sized private companies that are undergoing strategic, operational or generational transition.