Revolution Capital Group, a Los Angeles-based private equity firm, announced it has acquired Maysteel, a manufacturer of precision sheet metal enclosures in Allenton, Wis.
"Maysteel has been a market leader for nearly eight decades in providing full service sheet metal manufacturing solutions. This acquisition fits with Revolution's plan to expand its portfolio of high-quality manufacturing companies, and we are impressed with Maysteel's products, people and commitment to the community. We look forward to continuing to achieve the gold-standard Maysteel has established in serving its customers," said Jeff Gray, managing director of Revolution Capital Group.
Kevin Matkin, president of Maysteel, said Revolution's vision for Maysteel builds on what the company has done to strengthen its position over the past several years.
"Revolution is poised to maximize the opportunities in the marketplace. They can take full advantage of the equipment and facilities now in place that will allow the business to grow. Maysteel has been an important part of the area for a long time, and Revolution shares our commitment to being an active member of the community," Matkin said.
Financial terms of the transaction were not disclosed.
Maysteel was founded in 1936 and is a full-service provider of sheet metal manufacturing solutions. Its enclosures and applications are found in a variety of industries, including utility, self-service, alternative energies, medical, security and more.