Houston, Texas Private Equity Firm

Warfab provides heavy industrial repair, maintenance, fabrication, and machining services, both in-house and in the field, for customers across the industrial sector with specific focus on the mining, heavy steel, railcar, and energy segments. The company is based in Hallsville, Texas with branch offices in Miami, Florida and Gillette, Wyoming servicing customers in the US, Canada, Australia, South Africa, and Morocco. Warfab is an industry leader in the servicing of draglines and other mining equipment.

//  by 

Freestone Partners, LLC is pleased to announce its acquisition of the assets of Warfab Industries, Inc. and its related operating entities in partnership with management.

Warfab provides heavy industrial repair, maintenance, fabrication, and machining services, both in-house and in the field, for customers across the industrial sector with specific focus on the mining, heavy steel, railcar, and energy segments.  The company is based in Hallsville, Texas with a branch office in Miami, Florida and services customers in the US, Canada, Australia, South Africa, and Morocco. Warfab is an industry leader in the servicing of draglines and other mining equipment.  The company is set apart by its skilled management, engineering and technical teams, strong industry relationships, and extensive capabilities.  Calvin Grace, Chief Executive Officer of Warfab, commented “We are excited to partner with Freestone in the next chapter of Warfab’s story.  Our management team looks forward to expanding our product offering and geographic reach to better serve our customers and create opportunities for our employees to grow.”

In addition, the board of Warfab has appointed Russell Ginn as Executive Chairman.  Mr. Ginn has a strong background as CEO of manufacturing companies serving the energy industry.  He was CEO of The Flexitallic Group, a global industrial gasket manufacturer that was acquired by a European entity in 2007.  Mr. Ginn has served as Chairman of other Freestone portfolio companies since 2008.

Michael Alley of Freestone Partners commented, “Warfab is an excellent company with a long history of serving the industrial sector.  We look forward to partnering with Mr. Grace and his highly capable management team.  Warfab has a strong group of suppliers and customers, and the company is a welcomed addition to the Freestone portfolio of companies.”

Warfab will continue its long association with Texas Bank and Trust.  Also, Warfab has engaged Henry & Peters to conduct its annual financial audit.

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.