- IronCraft was founded in 2014 under the Titan Implement brand by the Turner family
- Based in Nashville, LFM targets lower middle market manufacturing and industrial services companies
LFM Capital has made an investment in IronCraft, a maker of agricultural implements and skid steer attachments utilized on small tractors, skid steer loaders, and compact loaders. No financial terms were disclosed.
As part of the IronCraft acquisition, Pat Kozlowski and Arden Schwandt will join the executive team as CEO and CFO, respectively, replacing Titan founders Mike Turner and Baily Turner who are pursuing other endeavors.
Kozlowski joins after a successful 30-year career at Caterpillar Inc., where he served in a variety of managerial roles across compact construction equipment and ground engaging tools leading dealer channel strategy and product development. Schwandt was most recently CFO of an Oklahoma-based building products manufacturer.
Previously, he spent nearly 20 years at The Charles Machine Works Inc., serving in a variety of accounting and finance roles in both corporate and dealership settings.
LFM Managing Director Dan Shockley said in a statement, “We are thrilled to add IronCraft to the LFM portfolio. The company’s strong historical growth is a testament to its value proposition to dealers and end users, and we believe the diversified skid steer and tractor attachments industry will continue to grow in size and scope.”
Based in Nashville, LFM targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million.
IronCraft was founded in 2014 under the Titan Implement brand by the Turner family.