Resilience Capital Partners has invested in Hynes Industries and Hynes Kokomo. Financial terms weren’t announced. Youngstown, Ohio-based Hynes is a North American manufacturer of rolled formed shapes, strip steel and flat wire. The Bresnahan family, which is the seller, will retain a minority ownership stake.
CLEVELAND, Aug. 21, 2014 /PRNewswire/ — Resilience Capital Partners, a Cleveland-based private equity firm focused on investing in and improving lower mid-market companies in a broad range of industries, has announced an investment in Hynes Industries, Inc. and Hynes Kokomo, LLC which will operate as a newly-formed platform company that will continue under the name of Hynes Industries (“Hynes”). Members of the Bresnahan family will retain a minority ownership stake in the business. Hynes is headquartered in Youngstown, Ohio and is a leading North American manufacturer of rolled formed shapes, strip steel and flat wire. Hynes is a trusted partner to a diversified base of premier customers operating within the truck trailer, building and construction products, home and long-term care products and a variety of other markets. Hynes is Resilience Capital Partners’ ninth platform investment for The Resilience Fund III, L.P.
“On behalf of the entire Resilience organization, we couldn’t be more pleased with the opportunity to partner with the Bresnahan family and build upon their 50 years of family ownership. This Resilience investment will ensure this company, based in Ohio, the heart of the industrial Midwest, will continue to be an industry leader and provide support to its customers as they expand and grow both nationally and internationally,” said Steven Rosen, Co-CEO of Resilience Capital Partners.
Ki Mixon, a Partner at Resilience Capital Partners, added that “Hynes has developed a very strong reputation in the marketplace that is driven by their on-time delivery and quality record. They have an impressive track record and a great foundation from which we can launch our newest platform investment. We are excited and committed to rolling up our sleeves and working hard alongside the talented staff at Hynes right here in Ohio.”
William J. Bresnahan, board member, commented that “Our commitment to working alongside our new partners to take Hynes to the next level of excellence is strong. We welcome the Resilience team to the Hynes family and look forward to this new chapter in the company’s long history.”
About Resilience Capital Partners
Headquartered in Cleveland, OH, Resilience Capital Partners invests in niche-oriented manufacturing and business service companies located in the Midwestern and Mid-Atlantic United States with sustainable market positions and a clear path to cash flow improvement. Resilience targets platform businesses with $25 million to $250 million in revenues across a broad range of industries where it can improve a company’s operations, competitive positioning and profitability. Since its founding in 2001, Resilience Capital has invested in 40 companies under 23 platforms. Its portfolio companies today employ more than 7,000 people in 14 states and collectively represent over $2 billion in revenues. Resilience manages in excess of $320 million for its global investor base which includes pension funds, insurance companies, foundations and endowments, fund of funds, wealth managers, and investment consultants. For more information, please visit www.resiliencecapital.com.
About Hynes Industries
Headquartered in Youngstown, OH Hynes Industries is a leading North American manufacturer of rolled formed shapes, strip steel and flat wire. Hynes is a trusted partner to a diversified base of premier customers operating within the truck trailer, building and construction products, home and long-term care products and a variety of other markets.