WARRENVILLE, IL (November 06, 2024) – Plymouth Tube Company (“Plymouth”) has completed the sale of its Winamac, Indiana Carbon & Alloy Seamless Tube Mill (“Winamac”) to an affiliate of Shadowbriar Capital Partners (“Shadowbriar”). Winamac will operate as a stand-alone business named Crossroads Seamless USA.
The Winamac site consists of a Cold Draw, a Hot Mill, and a Quench and Temper line which manufacture carbon and alloy seamless steel tubing for diverse end markets, including construction, drilling, utilities, military, oil & gas, and other industrial applications. For Shadowbriar, the acquisition represents an exciting opportunity to leverage the growth model it has successfully implemented at its other value- added metal processing portfolio company businesses. With 35 years of demonstrated leadership experience in the carbon and alloy steel tube industry, George Thompson has joined Crossroads Seamless USA as the company’s President.
“Crossroads Seamless USA brings an excellent array of hot finished, cold drawn, and tube finishing capabilities and a workforce that is truly exceptional,” said George Thompson. “We are very excited to expand the company’s production volumes and processing capabilities to increase the value we bring to customers.”
“Crossroads Seamless USA intends to become a leading domestic producer of carbon steel seamless tubing from the company’s excellent manufacturing facility in Indiana,” said Matt Homme, Managing Partner of Shadowbriar Capital Partners. “We are confident that George Thompson’s strong industry relationships and commercial background will drive significant growth in the years to come working collaboratively with the company’s outstanding workforce and leadership team.”
The sale of Winamac follows Plymouth’s announced closure of its West Monroe, LA site earlier in July 2024 and enables Plymouth to focus on its product leadership strategy targeting core aerospace, defense, medical tubing, nuclear tubing, and fluid power markets. Plymouth emerges in a strengthened position to increase the differentiated value it brings to customers.
“Plymouth is grateful to the Winamac employees who have delivered substantial value for customers and for Plymouth since 1962,” said Paul Lemke, Plymouth’s Board Chair. “We are excited for its future with Shadowbriar and eager to embark on Plymouth’s second century with a sharpened focus on extending our product leadership for highly demanding specialty markets.”
Stout Capital served as financial advisor to Plymouth on the transaction. Kilpatrick Townsend & Stockton provided legal counsel to the sellers, and McDonald Hopkins provided legal counsel to the buyer.
About Crossroads Seamless USA
Crossroads Seamless USA is a domestic producer of carbon and alloy seamless tubing located in Winamac, Indiana. With over six decades of operating history in the Midwestern United States through its predecessor entities, Crossroads Seamless USA demonstrates excellent manufacturing capabilities, customer service, and commitment to quality. The company services a diverse North American customer base across end markets that include construction, drilling, utilities, military, oil & gas, and other industrial applications. For more information on Crossroads Seamless USA, please visit www.Xseamless.com.
About Shadowbriar Capital Partners
Shadowbriar is a Los Angeles based private equity firm that seeks to make control investments in leading lower middle-market industrial businesses that demonstrate strong potential. Shadowbriar looks to partner with outstanding management teams on a long-term basis to drive significant growth, both organically and through post-closing add-on acquisitions. Additional portfolio companies include VORTEQ Coil Finishers, LLC and Flextrude Aluminum Shapes, LLC. For more information on Shadowbriar, please visit www.shadowbriar.com.
About Plymouth Tube Co.
Plymouth Tube Company is a global specialty manufacturer of stainless, nickel alloy, and carbon alloy precision steel tubing. Plymouth Engineered Shapes manufactures titanium, stainless, nickel alloy, carbon & alloy semi- finished extrusions and semi-finished shaped bar. Under five continuous generations of family ownership, Warrenville, IL-headquartered Plymouth Tube celebrates its 100th Anniversary in 2024. For more information on Plymouth Tube Company, please visit www.plymouth.com.
Please direct Plymouth Tube inquiries to Holly Both at (630) 791-2759 (hboth@plymouth.com) and Shadowbriar/Crossroads Seamless USA inquiries to George Thompson at gthompson@Xseamless.com.
