Hartford-based fabricated metals manufacturer
Helgesen Industries has been acquired by Monticello, Minnesota-based
Standard Iron. Terms of the deal were not disclosed.
Helgesen makes hydraulic tanks for several industrial end markets including construction, agriculture, power generation and more. The company has two facilities in Hartford and operations in Poland and Brazil.
Standard Iron is a heavy metal fabricator with a focus on complex and heavy-duty parts and assemblies. The company has five manufacturing facilities across the Midwest.
“We are proud to announce the addition of Helgesen to the Standard Iron family,” said
Rich Demeules, chairman of Standard Iron. “I have known Helgesen and their ownership,
Tom and
Nate Marshall, for many years. Helgesen has a strong reputation in the market and is a leader in engineered offerings, including fluid conditioning tanks and other complex fabrications. I am particularly excited about how the partnership will allow the combined company to serve its OEMs in an expanded way.”
Standard Iron is majority owned by an affiliate of Austin-based private investment firm
Owner Resource Group LLC.
The acquisition will allow both Helgesen Industries and Standard Iron to expand their product offerings and focus more on innovation, according to a Monday announcement.
“We are excited to join the Standard Iron organization. In addition to a great historic relationship and strong organizational cultural fit, our team was drawn to the commercial fit of the organizations and the impact of the enhancements we can offer our customers in terms of products and service," said
Tom Marshall, managing partner at Helgesen Industries. "Together, the combined organization will have a leading geographic footprint and specialized capabilities to offer to our OEM partners.”
