Littlejohn Capital announced it has completed the sale of Maysteel Industries, a North American manufacturer of custom metal enclosures and precision fabricated solutions, to Steele Solutions, a portfolio company of Revelar Capital.
Headquartered in Allenton, Wisconsin, Maysteel provides mission-critical metal enclosures and fabrication services for applications across data centers, essential infrastructure, and renewable energy. The company operates six facilities across North America and employs approximately 800 people. Its capabilities span engineering, design-for-manufacturability, and fully integrated production, serving a range of blue-chip customers.
During Littlejohn Capital’s ownership, Maysteel expanded significantly, growing from two facilities into a broader manufacturing platform with a diversified footprint. The company also completed several acquisitions that enabled it to enter high-growth markets, particularly data centers and infrastructure.
Maysteel’s products include precision sheet metal enclosures, kiosks, cabinets, and racks used across industries such as power backup, utilities, renewable energy, self-service kiosks, and security applications. Founded in 1936, the company has built a long-standing presence in the manufacturing of critical infrastructure.
Lincoln International served as financial advisor on the transaction, and BakerHostetler acted as legal counsel.
KEY QUOTES
“Maysteel provides mission-critical applications where the cost of failure is high. Our internal engineering, project management, and manufacturing capabilities distinguish Maysteel’s tailored solutions in ‘cannot fail’ applications and has allowed us to serve some of the leading companies in the data center and grid infrastructure markets. Together with Littlejohn, we executed transformative initiatives to make Maysteel an ideal collaborative partner with our customers who rely on the full scope of our capabilities. Our people and technology have made the company a leader in its industries for 90 years, and we are well situated now to support the needs of a strong base of existing customers as we continue to capitalize on a strong pipeline of new activity.”
Kevin Matkin, Chief Executive Officer of Maysteel Industries
“We acquired Maysteel to further develop its high-value products in new end markets and enhance its ability to deliver market-focused, customer-driven solutions. During our ownership we delivered on those goals and expanded operations from two facilities into a full-scale manufacturer of precision sheet metal whose substantial footprint spans across North America. Several key acquisitions allowed us to enter new rapidly growing markets, in particular the data center and essential infrastructure markets. We are proud of our partnership with Kevin and the team at Maysteel knowing that the company is firmly positioned with clear growth momentum.”
Angus C. Littlejohn III, President of Littlejohn Capital
