November 11, 2019 | Posted on ABLAdvisor.com
Shawnee Tubing Industries, LLC, a manufacturer of smooth and finned copper tubing, has retained Equity Partners HG to seek a buyer for the business. Originally started in 1974 as Wolverine Tube Shawnee in Shawnee, OK, the Company has been producing copper tubing for industrial and construction use for 45 years. The business was acquired by a member of management in April 2017, and was then restructured and acquired by AIAC in July 2018.
Shawnee Tubing Industries manufactures industrial tube in a wide range of wall thickness, diameter and hardness, and currently produces over 200 SKUs. The plant was designed to produce high-quality wall and grain/temper capabilities and its annual capacity is 65 million lbs. per year. STI’s manufacturing facility totals 342,450 sq. ft. on a 49-acre parcel with ample space for expansion. The plant includes 252,550 sq. ft. of manufacturing space, 33,000 sq. ft. of warehouse space, and 39,600 sq. ft. of offices. Equipment includes tube forming and winding equipment, extrusion presses, continuous casting lines, annealing and melt furnaces, fin machines, and general material handling and support equipment.
Keith Keeling, a Managing Director at Equity Partners HG, stated “STI is a great opportunity to acquire significant production capacity with an experienced workforce. Initiatives to establish the Company as the premier source for specialized products, along with developing a major copper recycling operation, are well underway and we are excited to work with STI to explore options as they transition the Company for sustained growth.”
Equity Partners HG, based outside Baltimore, MD, provides investment banking services in special situations and has completed in excess of 550 engagements throughout the United States since 1988.