LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, recently announced its investment in IronCraft LLC.
IronCraft, formerly branded Titan Implement, is a leading manufacturer of 3-point, skid steer, and mini-excavator attachments. Their products are sold through the company’s dealer network spanning more than 40 states and used for a variety of applications, targeting the lifestyle farmer, landscaping, light construction, and more. Terms of the transaction were not disclosed.
The company plans capital expenditures over the next 24-months at the Athens, Tenn., factory as well as other southeastern Tennessee locations including a paint booth, laser cutting, robotic welding and more. In addition, other initiatives to support the post-purchase experience include online parts lookup, service manuals, training resources and adding more product support locations across the country.
“Dealers and customers should expect a personal and simple sales transaction while having access to a broader product group that will be in more locations across the country,” said new IronCraft CEO Pat Kozlowski. “We will also be deploying resources to the dealers in the coming months that will enable them to procure, manage, and track their orders with visibility, which will help them serve their customers through the transaction. This should provide an easy to buy experience while also making it easier for the dealers to serve their customers.”
LFM Managing Director Dan Shockley commented, “We are thrilled to add IronCraft to the LFM portfolio. We believe the diversified skid steer and tractor attachments industry will continue to grow in size and scope. The historical growth that IronCraft has experienced is a testament to the organization’s value proposition to its dealers and end users.”