Global Fastener News

Hi-Temp Adds Gomez, Fogarty & Laughlin

John Wolz

Hi-Temp named Frances Gomez and Jane Fogarty to production control and customer service and Dave Laughlin as heat treat superintendent, sales manager Greg Soske announced.
Hi-Temp has provided heat treating and plating for fasteners for 50 years is located at 75 E. Lake St., Northlake, IL 60104. Tel: 708 410-8000 Fax 708 410-8100 E-mail: gsoske@gibraltar1.com Web: ****************************************************************

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Lamar Hunt Group to Acquire Lone Star/Walker; Price Quadruples in 1 Year

John Wolz

A Dallas private equity firm backed by the Lamar Hunt family has agreed to acquire Lone Star Fasteners LP for $33.5 million.

The amount is more than four times the price paid to T-3 Energy Services Inc. for the Houston manufacturer last year, the Houston Business Journal reported.

Trinity Hunt Partners, backed by the Hunt family and New York”s Capital Z Investment Partners, is expected to close on the deal this month.

In February 2004 a six-member investment group of Louisiana-based oil-industry investors led by Bruce Ross acquired Lone Star for $7 million. Ross, the Lone Star CEO, told Houston Business Journal reporter Jim Greer that the investors made “a quick and phenomenally high return.”
Ross will retain about 15% of Lone Star and remain CEO.
Lone Star revenue jumped nearly 50% since Ross acquired it.
“Many of Lone Star”s clients are in refining or oil and gas exploration and production,” Greer reported. “Those sectors have enjoyed robust performance during the last two years.”

T-3 had held LSS-Lone Star-Houston Inc., Walker Bolt Manufacturing Company and Ameritech Fastener Manufacturing since merging with Industrial Holdings Inc. in 2001.
Lone Star manufactures and distributes standard and specialty bolting for the energy industry and provides in-house coating services. Walker Bolt manufactures fasteners in small quantities and Ameritech produces military and aerospace parts.
Web: LSSLoneStar.com �2005 FastenerNews.com