Shawnee Tubing Industries Seeks Buyer
They have retained Equity Partners HG to find a buyer for their business.
Posted: November 8, 2019
Shawnee Tubing Industries, LLC (STI; Shawnee, OK) has retained Equity Partners HG (Easton, MD) to seek a buyer for their business. Originally started in 1974 as Wolverine Tube Shawnee, 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 American Industrial Acquisition Corporation (AIAC), in July 2018.
They manufacture industrial tube in a wide range of wall thickness, diameter and hardness, and currently produce over 200 SKUs. The plant was designed to produce high-quality wall and grain/temper capabilities and their annual capacity is 65 million lb per year. The 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 office space. 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 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 them to explore options as they transition for sustained growth.”
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