–News Direct–
Latrobe Foundry Machine & Supply Co. was founded in 1933 by Louis C. Steiner and is a leading manufacturer of high-quality threaded and flanged aluminum pipe fittings and hardware. Latrobe Foundry Machine & Supply Co. is a multi-location manufacturer with an established product line in various businesses, including aerospace, agricultural, chemical, construction, and marine industries.
The company's products are distributed by some of the largest suppliers in the industry, such as McMaster Carr, MSC Industrial, Ferguson, and many more regional suppliers. Latrobe Foundry has a rich manufacturing history. Ted Steiner, President, and Sally Shirey, Vice President, are the grandchildren of Louis C. Steiner, and Michael Steiner, Vice President, is the great-grandson of the founder, Louis C. Steiner.
President and Officer of Latrobe Foundry Machine & Supply Co., Ted Steiner, emphasized, "Latrobe Foundry and Genesys share not only common markets and hardware product lines but also deep-rooted manufacturing expertise and values. This alignment will enable us to offer a more comprehensive range of products and elevate our customer service levels. The team at Benchmark International played a crucial role in guiding us towards a successful sale."
Genesys Industries' spokesperson expressed, "We are thrilled about the acquisition. This strategic move further expands our already growing presence in manufacturing mechanical hardware components for the industry. It seamlessly integrates with our expanding parts catalog of over 124,000 unique SKUs (part numbers). With this acquisition, we gain an additional 13,000 sqft facility in Pennsylvania, enhancing our operational capabilities."
"Both buyer and seller were great to work with, and I feel confident that their respective clients will benefit greatly from this acquisition" Senior Director Matthew Kekelis, Benchmark International
Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkIntl.com
Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com
Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com
ABOUT BENCHMARK INTERNATIONAL:
Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $11 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark Internationals transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive Privately-held M&A Advisor in the World by Pitchbook and Refinitiv's Global League Tables.
Contact Details
Brittney Zoeller
+1 813-898-2350
Company Website
https://www.benchmarkintl.com/
View source version on newsdirect.com: https://newsdirect.com/news/benchmark-international-has-successfully-facilitated-the-transaction-of-latrobe-foundry-machine-and-supply-co-to-genesys-industries-111918780
Benchmark International
COMTEX_451837370/2655/2024-05-03T11:36:28
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Fast Amplify journalist was involved in the writing and production of this article.
