Industry Consolidation LoneStar Fasteners
In November 2005, Trinity Hunt purchased a controlling interest in LoneStar Fasteners, a privately held Houston-based manufacturer of specialty fasteners for the energy market. Trinity Hunt bought out the non-active shareholders and provided the company with institutional capital to grow organically as well as through add-on acquisitions.
Initially, we focused on bolstering the platform company to position it for an aggressive growth phase. During the first year, we invested over $1 million in new production equipment, implemented a new IT system and added significant depth to the management team by hiring a COO, CFO, Controller, VP of Human Resources and IT Manager. After successfully strengthening the foundation of the company, we embarked on an acquisitive growth strategy with the intent of creating a global provider of specialty fasteners capable of servicing its customer base on multiple continents. Within 18 months of the initial closing date, LoneStar had acquired four complementary businesses. The acquisitions not only expanded LoneStar's product offerings, but also gave the company a global footprint with operations in the U.S., the United Kingdom, Eastern Europe, the Middle East and China.
Today, LoneStar is four times larger in terms of revenues and profits than it was at the time of the initial acquisition and is recognized in its market as a premier global provider of specialty fasteners to the energy industry.
