Patriot Capital, a multi-strategy middle market investment firm, is pleased to announce a recent add-on subordinated debt investment, in support of an acquisition by Maysteel Industries, a portfolio company of Littlejohn Capital.
The acquisition of Star Precision, a full service, sheet metal fabrication, precision machining and complete finishing services company, further develops Maysteel’s capabilities and expands Maysteel’s geographical presence with Star’s facility in Colorado.
Kevin Matkin, Chief Executive Officer of Maysteel, said, “Maysteel participates in a diverse set of defined industries that require durable sheet metal solutions. Star Precision is a complementary addition to our growing platform as we continue to scale and diversify our metal production and machining capabilities. Star Precision is an essential piece to our future success and growth, and we are excited to have the company and its people as part of Maysteel.”
Headquartered in Allenton, WI, Maysteel is a manufacturer of custom OEM sheet metal enclosures, electrical cabinets, and metal fabricated assemblies. Patriot initially invested in the platform in December 2017 at the time of Littlejohn and Maysteel’s acquisition of DAMAC Products, LLC.
Angus Littlejohn III, President of Littlejohn Capital, said, “We are very excited to continue our partnership with Patriot. They are a great team to work with and consistently demonstrate the ability to be responsive and thoughtful.”
For more information on Maysteel Industries, please visit www.maysteel.com/.