Global Fastener News

Lone Star Merges with UK’s PRD Holdings

John Wolz

Lone Star Fasteners completed the merger with PRD Holdings Limited in a deal valued at approximately U.S.$150 million.

Based in Wolver Hampton, UK, PRD Holdings has facilities in Dubai and China. PRD manufactures and supplies standard and specialty fasteners for the oil & gas, power generation, construction and automotive industries. PRD’s companies include PRD Fasteners, Eurofast, Triplefast International, Triplefast Middle East and The Fastener Network.

The combined Lone Star and PRD businesses will be jointly managed by Lone Star CEO Bruce Ross and PRD group managing director Allan Stennett.

Although Lone Star will be the surviving entity, the PRD businesses will continue to trade under the PRD, Eurofast, Triplefast and Fastener Network names.

Lone Star is a portfolio company of Dallas-based Trinity Hunt Partners.

Ross noted that customers are expanding worldwide and Lone Star is focused on serving customers globally.
“Partnering with the PRD organization is an important step in realizing that vision,” Ross said. “We are extremely pleased to welcome each of PRD”s managers and employees into the Lone Star group of companies and we look forward to pursuing further client, product and geographic expansion opportunities together.”

Stennett pointed out that Lone Star products extend beyond fasteners to gaskets, precision machined components and industrial coatings which will “allow the PRD group companies to offer their customers a more complete range of product solutions from a single source.”

Lone Star chairman and Trinity Hunt partner Scott Colvert commented “15 months ago Trinity Hunt partnered with Bruce Ross to grow Lone Star. Since then we have made substantial investments to enhance the management team and expand operational capacity, in addition to closing on four significant acquisitions. Now, Lone Star is the first truly global fasteners, gaskets, precision machined parts and industrial coatings supply chain partner for the oil & gas, petrochemical and power generation industries.”

The merger with PRD follows Lone Star”s previous acquisitions of LWD Precision Engineering, Coating Dynamics and Grange Gaskets. Post-merger, Lone Star will generate approximately US$150 million in revenue, serving more than 400 customers, with approximately 800 employees in manufacturing and distribution operations in the U.S., UK, Romania, Dubai and China.

Lone Star is global manufacturer and supplier of standard and specialty high-performance fasteners, gaskets and precision components, as well as industrial coating services. From operational facilities located in Houston, Texas, the United Kingdom, Romania, Dubai and China, Lone Star serves customers in the oil & gas, petrochemical, refining, power generation and defense industries. Web: lonestarfasteners.com or lwdeng.com and prdholdings.com.

Dallas-based Trinity Hunt Partners is a regionally focused private equity firm specializing in leveraged acquisitions, recapitalizations and late-stage growth financings of established middle-market companies with enterprise values between $15 million and $150 million in the niche manufacturing, business services, health care, media and consumer products industries. Web: trinityhunt.com
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