Freestone Partners, LLC announced today that it has partnered with management and ORIX Corporate Capital to acquire the assets of Cyclone Steel Services, Inc., a premium provider of steel plate processing services primarily to the petrochemical and oil and gas industries. Cyclone specializes in full-service precision cutting and value-added processing of steel plate for a range of critical applications utilizing oxy-fuel, plasma and high-definition plasma technologies.
Cyclone’s CEO, Steve Lesikar, will continue to run the company along with his existing senior management team, and he will continue to own a substantial share of the company. “We are pleased to have Steve Lesikar and ORIX as our partners in Cyclone. We hope to have a long and prosperous relationship with Mr. Lesikar and ORIX, both of whom bring deep expertise and impeccable integrity to this new mutual endeavor,” said Mark Leyerle, one of Freestone Partners’ founders in 2001. Cyclone’s financial advisor for this transaction was Quarton Partners of Birmingham, Michigan. More information about Cyclone can be found at www.cyclonesteel.com.
Headquartered in Houston, Texas, Freestone Partners invests in companies with $10 to $50 million in annual revenue with potential for substantial growth. Freestone seeks to partner with management teams and/or selling owners to help small to medium-sized businesses achieve their growth goals. Freestone’s investment philosophy states that value is created by focusing on a few fundamentals: a sound investment process, solid management, viable business strategies, and outstanding operating execution. We value more than the transaction – we value the people involved.