The front entrance to Maysteel
LLC is seen Tuesday night in Allenton. The company has been
sold to a private equity firm in Los Angeles.
One of Allenton’s largest companies
changed hands last Wednesday.
Capital Group, a privately funded investment firm based in Los
Angeles, announced Nov. 27 that it had acquired Maysteel in
Allenton from the Everett Smith Group. Maysteel creates
precision sheet metal enclosures.
Capital Group acquires and manages companies globally, including
media groups, manufacturers, technology companies and more.
“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,” Revolution Capital Group Managing Director Jeff Gray
said in a prepared statement.
terms of the transaction have not
disclosed, Revolution Capital Group spokesman Gary Alcock said
that his company would be making a donation to the Allenton
“There is a
charitable contribution to the community,” Alcock told the Daily
News on Tuesday. “It’ll go back to the community. I can’t give
also said he could not disclose whether Maysteel’s day-to-day
operations or employees would be affected by the transaction.
products serve the medical, gaming, manufacturing, outdoor
facility and security industries.