Maysteel Industries merges with North Carolina-based Porter’s Group

Manufacturing

Last updated on March 17th, 2020 at 01:32 pm

Allenton-based metal fabricator Maysteel Industries has merged with Gastonia, North Carolina-based Porter’s Group, the companies announced Monday.

“This merger creates a dynamic company and a much stronger competitor that responds to the needs of our customers and markets we serve,” said Kevin Matkin, chief executive officer of Maysteel. “With greater scale, improved market leadership, increased engineering expertise, complementary strengths and geographic reach we have a broader product base to offer our customers from locations where customers need us.”

Financial terms of the deal were not disclosed.

Matkin will be CEO of the newly combined company. Guy Roberts, formerly CEO of Porter’s Group, will be chief operating officer.

The combined company will operate under the Maysteel brand name. The previous owners of the two companies, Georgia-based Littlejohn Capital in the case of Maysteel and Ohio-based Resilience Capital Partners for Porter’s Group, will both continue was equity partners in the combined company.

“The continued support from Littlejohn Capital and Resilience Capital allows us to benefit from the combined resources of these two firms who have extensive expertise in our industry,” Roberts said.

Maysteel specializes in designing, engineering and manufacturing custom sheet metal enclosures and cabinets. Porter’s Group is a sheet metal fabricator serving 20 diverse industries. The combined company will have more than 1,000 employees across six locations in the U.S. and Mexico.

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Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.

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