Turnout Industries buys PE-backed KIHM Metal Technologies

KIHM was a portfolio company of The Firefly Group.

  • Mesirow was financial advisor to KIHM on the deal
  • The Firefly Group invests in lower-middle market U.S. companies
  • Turnout Industries is a Chicago-based diversified holding company focused on acquiring companies with $5 million to $50 million of revenue and at least $1 million of EBITDA

Turnout Industries has acquired Indianapolis-based KIHM Metal Technologies, a provider of fabricated metal components. No financial terms were disclosed.

KIHM was a portfolio company of The Firefly Group.

Mesirow was financial advisor to KIHM on the deal.

“The Mesirow team was outstanding in helping us find the right buyer for KIHM based on our defined criteria,” said Derrick Smith, co-founder and partner of The Firefly Group, in a statement. “They lead an effective process and were great to work with overall. We are optimistic about the outcome for everyone involved at KIHM.”

Based in Chicago, Mesirow is a financial services firm founded in 1937.

The Firefly Group invests in lower-middle market U.S. companies with at least $1 million of EBITDA.

Turnout Industries is a Chicago-based diversified holding company focused on acquiring companies with $5 million to $50 million of revenue and at least $1 million of EBITDA.