Lone Star Fasteners Merges With PRD Holdings

Combination Creates a Dominant Global Supplier of Fasteners, Gaskets and Precision Manufactured Components

Lone Star Fasteners (LSF) has completed its merger with PRD Holdings Limited (PRD) in a transaction valued at approximately US$150 million. Based in Wolverhampton, United Kingdom, and with operational facilities in Dubai and China, PRD manufactures and supplies standard and specialty high-performance fasteners to the oil and gas, power generation, nuclear power, petrochemical, heavy engineering, construction and automotive industries through its group companies, which include PRD Fasteners, Eurofast, Triplefast International, Triplefast Middle East and The Fastener Network. Although LSF will be the surviving entity, the PRD businesses will continue to trade under the PRD, Eurofast, Triplefast and Fastener Network names.

Scott Colvert, partner at Trinity Hunt and chairman of LSF commented, “Fifteen months ago, Trinity Hunt made a commitment to grow Lone Star. Since then, we have made substantial investments to enhance the management team and expand operational capacity, and have grown revenues nearly five fold to $150 million through organic initiatives and four acquisitions. Now, LSF is the first, truly global, fasteners, gaskets, precision machined parts and industrial coatings supply chain partner for the oil and gas, petrochemical and power generation industries.”

LSF’s merger with PRD follows LSF’s previous acquisitions of LWD Precision Engineering, Coating Dynamics and Grange Gaskets. Post-merger, LSF will generate approximately US$150 million in revenue, serving more than 400 customers, with approximately 800 employees throughout its manufacturing and distribution operations in the United States, the United Kingdom, Romania, Dubai and China. Lone Star is a portfolio company of Dallas-based Trinity Hunt Partners.

Financing for this transaction was provided by Bank of Scotland.