Crossplane Capital Acquires Hynes Industries Alongside Management

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Dec 11, 2023, 08:00 ET

DALLAS, Dec. 11, 2023 /PRNewswire/ -- Crossplane Capital ("Crossplane"), a Dallas-based private equity firm, is pleased to announce the recapitalization of Hynes Industries ("Hynes" or the "Company") in partnership with Rick Organ, CEO of Hynes, and other members of the Hynes leadership team. Founded in 1925 and headquartered in Youngstown, OH with additional manufacturing facilities in Painesville, OH and Kokomo, IN, Hynes is a leading manufacturer of precision-engineered roll formed metal parts and assemblies for diverse end markets that include automated material handling, truck trailer, solar, and general industrial.

"Hynes has been an economic engine for the Youngstown community for almost 100 years," said Brian Hegi, Managing Partner of Crossplane Capital. "We are thrilled to partner with Rick Organ, Hynes's leadership team, and its talented employees to support transformational growth and to continue being an employer of choice in the Youngstown, Painesville and Kokomo communities."

Commenting on this transaction, Rick Organ stated, "Throughout its history, Hynes Industries has built a legacy of Absolute Reliability. Partnering with Crossplane enables us to build upon and accelerate our on-going investment into our mission, people, processes and equipment. We are also able to advance our commitment to deliver even greater value to our partners and the communities we call home, as we look forward to the next century of excellence."

"Under Hynes's current leadership team, the Company has further developed into a customer-centric organization, solving complex customer challenges through collaborative design and value engineering, and consistently delivering quality products on time", said Michael Bertrand, Vice President of Crossplane Capital. "Crossplane is excited to support Hynes's growth through investments in capacity expansion and new capabilities to be a seamless manufacturing partner for our customers."

About Crossplane Capital

Launched in 2018, Crossplane Capital is a private equity firm based in Dallas investing control equity in niche manufacturing, industrial services, and value-added distribution businesses. The firm focuses on strategically unique, lower middle market businesses seeking an operationally oriented partner. Targeted situations include family and founder-owned businesses, corporate carve-outs, restructurings, and other special situations. The Crossplane Capital team has decades of collective experience transforming industrial companies as senior executives, operational improvement consultants, strategy consultants, restructuring advisors and private equity investors. For more information, please visit www.crossplanecapital.com.

About Hynes Industries

Hynes Industries provides highly engineered, custom roll form metal solutions for truck/trailer manufacturing, solar, automated material handling, and industrial & commercial markets. With three plant locations in Youngstown and Painesville, Ohio and Kokomo, Indiana, Hynes has over 500,000 square feet of manufacturing space with more than 75 roll form mills. Since 1925, Hynes has built a reputation for consistently delivering the highest quality products, cost effective solutions, and customer service that is second to none while fostering a community and family-oriented culture. For more information, please visit https://www.hynesindustries.com.

SOURCE Crossplane Capital