Nov. 26, 2014
Private Equity Firm Buys Main Steel
Peak Rock Capital, an Austin, Texas-based private equity firm, has acquired Main Steel Polishing Co., Elk Grove Village, Ill., from its parent Shale-Inland. Main Steel was acquired by Chicago-based Shale-Inland in March 2011.
Main Steel is a processor and polisher of stainless steel, aluminum and nickel alloys with operations in Atlanta; Harmony, Pa.; Riverside, Calif.; and the Chicago suburb of Elk Grove Village.
"The transaction represents an outstanding opportunity to invest in a leading company in the metals sector, with a well-established reputation for providing exceptional products and service on a national scale," says Anthony DiSimone, CEO of Peak Rock Capital. "This acquisition highlights our continued interest in the specialty metals processing and distribution sector, as well as our ability to identify and execute complex carve-out transactions."
Steel industry veteran Tom Modrowski has joined Main Steel as CEO. "Main Steel has a rich heritage as a leading toll processor of specialty metals, and we look forward to partnering with Peak Rock to continue investing in and growing the company's capabilities, with a focus on rapidly growing its toll processing business while continuing to meet the needs of its strategic partners," Modrowski says.