Freestone Acquires Dan-Loc
Freestone Acquires Dan-Loc
John Wolz
Freestone Partners LLC, acquired Dan-Loc Bolt & Gasket Inc. from The Flexitallic Group Inc.
Freestone, in conjunction with First Capital Group, acquired Houston-based Dan-Loc in an asset purchase. Terms of the transaction were not disclosed.
Dan-Loc Bolt & Gasket is a 40-year-old manufacturer of fasteners and high-pressure metal gaskets used by the energy industry.
Harry Fendrich is the new CEO of Dan-Loc. Fendrich has over 20 years of oilfield manufacturing and service experience, including as CEO of Homco International, an oilfield services and manufacturing subsidiary of W.R. Grace & Co.
“We see a number of avenues for growth in revenue and profit at Dan-Loc,” Fendrich said.
Freestone is a Houston-based private equity firm focused on acquisitions of mid-sized manufacturing, distribution and service firms, principally located in Texas and the Southwest.
Typical investments are made alongside experienced management with successful track records in companies with revenues between $10 million and $50 million. Web: freestone.com �2002 FastenerNews.com
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