Author: Patriot Capital

Patriot Capital Group, a multi-strategy middle market investment manager and advisory services platform announced today it has hired Jeff Rummell to lead its finance and accounting efforts for the firm. Mr. Rummell will be responsible for all finance and accounting activity for the Patriot Capital Family of Funds; Bengur Bryan, the firm’s corporate advisory and investment banking business; and Exeter Street Capital, the firm’s lower middle market micro-cap merchant banking strategy.

Mr. Rummell brings over 15 years of experience with EY, Laureate Education and, most recently, with Blackstone Group.

Charles McCusker, Managing Partner of Patriot Capital Group commented, “We are delighted to be able to add such an experienced finance executive to the Patriot Capital Group. As we continue to grow our 20-year alternative asset management business with our institutional investors, Jeff is uniquely qualified to lead the financial functions of the firm in these efforts.”

Mr. Rummell commented, “The Patriot Capital Group has developed an excellent investment platform for investors seeking to deploy capital in alternative debt and equity assets and I am excited to be an integral part of the firm’s next growth stage.”

Patriot Capital Group is pleased to announce an add-on subordinated debt investment to support the merger of its existing portfolio company, Maysteel Industries, LLC (“Maysteel” or the “Company”) with Porter’s Group. Patriot originally invested subordinated debt and equity in Maysteel in 2017 in support of Littlejohn Capital, LLC and the Company’s acquisition of DAMAC Products, LLC.

Maysteel specializes in designing, engineering, and manufacturing custom sheet metal enclosures, cabinets, kiosks, and racks for specific industry solutions from its locations in Wisconsin, California, and Monterrey, Mexico. Porter’s Group, founded in 1964, is a custom metal fabricator serving 20 diverse industries from its three manufacturing locations in Lynchburg, Virginia; Sumter, South Carolina; and Garland, Texas. Porter’s is the largest metal fabricator of sheet metal and safes for the North American banking industry. The combined company, which will continue to operate under the Maysteel brand, will have over 1,000 employees with six manufacturing locations covering the U.S. and Mexico, and manufacturing partner locations in Europe. Guy Roberts, formerly CEO of Porter’s Group, will now serve as the Chief Operating Officer of Maysteel.

The merger of the two businesses creates a leading custom sheet metal fabricator serving a number of industries. With greater scale, improved market leadership, increased engineering expertise, complementary strengths and geographic reach, Maysteel now has a broader product base to offer its customers from locations needed by its customers.

For more information on this transaction, please contact Stacey Wittelsberger or Tom Holland.