HOUSTON, TEXAS (June 6, 2023) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce the sale of Metalforms, Ltd. (“Metalforms”) to TransTech (“TransTech” and/or “TransTech Energy”), a portfolio company of Bridge Industries, LLC (“Bridge”). Statesman served as the exclusive sell-side financial advisor to Metalforms on the transaction.
Metalforms (Beaumont, TX), founded in 1968, is an industry-leader in the design, engineering, fabrication, repair and maintenance of TEMA shell and tube heat exchangers and ASME pressure vessels. Over its five decades of operations, Metalforms has established a reputation for its quality and reliability in serving its base of petrochemical and other manufacturing customers along the Texas and Louisiana gulf coasts.
The acquisition broadens TransTech’s engineering and fabrication capabilities, and its product offerings in heat exchanger, pressure vessels, air-coolers, and other process equipment. The combination also expands the two companies’ geographic footprint for providing emergency maintenance and repair response and other complementary field services.
“We’re excited to welcome the Metalforms team to the TransTech family,” said Greg Ezzell, President & Chief Growth Officer of TransTech, “In addition to bolstering our engineering, fabrication, and services bench, Metalform’s Texas location strengthens our Gulf Coast position and enhances our ability to serve our customers—with even greater speed, flexibility, and responsiveness.”
David Hearn, President, Metalforms added, “We’re thrilled to begin our partnership with TransTech and Bridge. As a second-generation family-owned business, we share many cultural similarities, laying a strong foundation for future growth. TransTech’s geographical reach and customer relationships will instantly expand opportunities for all areas of our business.”
About the other transaction participants
Statesman Corporate Finance, LLC (Houston & Austin, TX) is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation, and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement included Walter Tomlinson, Principal, Jim Briggs, Director, Peter Chiu, Director and Philip Rodriguez, Vice President.
TransTech (Rocky Mount, NC) is a specialty engineering, fabrication, construction, and services company delivering end-to-end project solutions across a broad array of industries. We help customers develop, manage, and maintain responsible, sustainable projects that drive measurable, positive impact while protecting workers, communities, and the environment. TransTech’s family of companies includes TransTech Energy, TransTech Fabrication, Bendel Tank and Heat Exchanger, ESI, and Maddox Industrial Group (MIG).
Benesch Friedlander Coplan & Arnoff LLP (Chicago, IL) provided legal counsel to TransTech, led by Partner, Sean T. Peppard, Associate Luis E. Vargas, Associate George Stowe, and Associate Peter E. Hanna.