Patriot Capital Group is pleased to announce an add-on subordinated debt investment to support the merger of its existing portfolio company, Maysteel Industries, LLC with Porter's Group. Patriot originally invested subordinated debt and equity in Maysteel in 2017 in support of Littlejohn Capital, LLC and the Company's acquisition of DAMAC Products, LLC.
Maysteel specializes in designing, engineering and manufacturing custom sheet metal enclosures, cabinets, kiosks and racks for specific industry solutions from its locations in Wisconsin, California and Monterrey, Mexico. Porter's Group, founded in 1964, is a custom metal fabricator serving 20 diverse industries from its three manufacturing locations in Lynchburg, Virginia, Sumter, South Carolina and Garland, Texas. Porter's is the largest metal fabricator of sheet metal and safes for the North American banking industry. The combined company, which will continue to operate under the Maysteel brand, will have over 1,000 employees with six manufacturing locations covering the U.S. and Mexico, and manufacturing partner locations in Europe. Guy Roberts, formerly CEO of Porter's Group, will now serve as the Chief Operating Officer of Maysteel.
The merger of the two businesses creates a leading custom sheet metal fabricator serving a number of industries. With greater scale, improved market leadership, increased engineering expertise, complementary strengths and geographic reach, Maysteel now has a broader product base to offer its customers from locations needed by its customers.
About Patriot Capital
Patriot Capital is a leading source of growth capital for middle-market companies seeking to finance business expansion, acquisitions, management buyouts or balance sheet recapitalizations. Patriot Capital is focused on debt capital and minority equity investments. Our senior deal professionals each have over 20 years of diverse corporate finance experience. We provide companies with capital and seasoned business judgment for transactions.
Patriot Capital utilizes a disciplined investment strategy developed over many years that focuses on capital preservation, consistent earnings growth and income generation. Patriot Capital has invested in and managed companies successfully through varying periods of economic expansion and contraction. We understand and employ successful strategies and tactics needed to guide our companies through these periods.
