BIRMINGHAM, Mich., Dec. 10, 2012 /PRNewswire/ -- Quarton Partners is pleased to announce that Freestone Partners has partnered with management and ORIX Corporate Capital to acquire Cyclone Steel Services, Inc., ("Cyclone"), a premium provider of steel plate processing services primarily to the petrochemical and oil and gas industries. Cyclone's CEO, Steve Lesikar, will continue to run the company along with his existing senior management team, and he will continue to own a substantial share of the company. Quarton Partners acted as the exclusive advisor to Cyclone. The transaction closed on November 30, 2012.
Cyclone Steel Services (www.cyclonesteel.com), based in Houston, Texas, specializes in precision cutting and value-added processing of steel plate for critical applications in the petrochemical and oil and gas industries. Cyclone provides a full-service solution regardless of the customer's requirements by utilizing oxy-fuel, plasma or high definition plasma cutting technologies. In addition, the Company offers its customers several value-added secondary processes.
Freestone Partners (www.freestonepartners.com) is a private equity firm located in Houston, Texas. Freestone principally targets companies in manufacturing, distribution, and commercial and industrial services. The firm's geographic focus for platform investments is the southwestern and southeastern United States.
ORIX Corporate Capital (www.orix.com) invests in public and private companies through a variety of debt and equity instruments. ORIX Corporate Capital is a subsidiary of ORIX USA, and ORIX USA is a Dallas, Texas-based financial services and investment firm. ORIX USA is a wholly owned subsidiary of ORIX Corporation (NYSE: IX), a Tokyo-based, publicly owned international financial conglomerate.
ABOUT QUARTON PARTNERS
Quarton Partners (www.quartonpartners.com), headquartered in Birmingham, Michigan, is a specialty investment banking firm, serving privately held and publicly traded companies, as well as private equity firms. Quarton Partners assists its clients with mergers and acquisitions, private capital raising, and other financial advisory services. Its principals have successfully completed hundreds of engagements in a wide variety of industries across the U.S. and throughout the world.
SOURCE Quarton Partners