Home » Lone Star Fasteners Breaks Into European Market
Lone Star Fasteners Breaks Into European Market
July 31, 2006
Lone Star Fasteners, Houston, TX, has acquired UK-based Grange Gaskets and Grange Precision Engineering (Grange). Grange will become a new division of Lone Star Fasteners, known as Lone Star-Grange.
Established in 1948 by George Grange, Grange is based in West Yorkshire, UK, and manufactures industrial gaskets and precision engineered parts that are sold to the oil, gas, chemical, petro-chemical, power generation and general engineering industries. Grange's Managing Director Tony Sitek will lead the new division and also manage future UK and Europe acquisitions, as well as day-to-day operations of Lone Star SRL, the company's Romanian division.
'The acquisition will allow Grange to realize its full potential by increasing manufacturing capacity and adding new products and services to our portfolio,' Sitek said. 'Above all, the relationship enables us to fully develop and expand our operation into Europe, the Middle East and the Far East, creating strategic distribution and manufacturing centers throughout the Eastern Hemisphere.'
'We have known Tony Sitek and Grange for a number of years and have continued to watch the company prosper,' said Bruce Ross, CEO of Lone Star. 'The company's reputation as a high-quality manufacturer of specialty gaskets has led to our recent acquisition which will help Lone Star expand its geographical footprint and become a worldwide supplier of specialty fasteners and gaskets.'
Lone Star plans to sign a new lease and combine Grange's gaskets and precision engineering facilities into one location with room to grow. The company plans to open the new plant within the next year.
About Grange Grange is a manufacturer of industrial gaskets, seals and precision machined parts for the oil, gas, chemical, petro-chemical, power generation and general engineering industries. The company currently operates two manufacturing sites in the county of West Yorkshire, UK. Grange sells to 25 countries, with a strong customer base in Norway and the US.
About Lone Star Fasteners Lone Star Fasteners is comprised of three main entities: (i) Lone Star Fasteners, a manufacturer of standard and specialty high-performance fasteners, (ii) Walker Bolt/Ameritech, a forging and manufacturing operation focused on specialty fasteners built to customer specifications, and (iii) Lone Star Sealing Technologies, a manufacturer of standard and specialty gaskets. Houston-based Lone Star Fasteners is led by CEO Bruce Ross. The company was purchased by private equity firm Trinity Hunt Partners in December 2005.