Osceola-backed Industry Services Co. makes it five with Lonestar Sierra

• Lonestarr Sierra specializes in refractory maintenance, demolition, installation, castings and support services
• Refractory services is the maintenance, repair and overhaul of industrial kilns and furnaces in manufacturing plants
• ISC is a provider of refractory and industrial maintenance services and has been backed by Osceola Capital since 2020

Osceola Capital-backed Industry Services Co. (ISC) announced on Tuesday it has purchased Lonestar Sierra, a provider of services to maintain and repair industrial kilns and furnaces in manufacturing plants.

Mobile, Alabama-headquartered ISC is a provider of refractory and industrial maintenance services. The company has been backed by Osceola since 2020. ISC’s deal for Tehachapi, California-headquartered Lonestar is the fifth acquisition the company has completed in the last two years.

“The addition of Lonestar’s talented team and sterling reputation establishes a permanent ISC presence on the West Coast and further strengthens our operations in the Western US,” said Shawn Hunter, CEO of ISC.

Osceola is a private equity firm headquartered in Tampa that invests in lower mid-market services companies across business, healthcare, tech, and industrial services. Typically, Osceola looks for companies with EBITDA of $2 million to $10 million, and $5 million to $75 million in revenue. It looks to initially invest up to $25 million with the ability to invest further equity via co-investment from limited partners.