Austin private equity firm acquires Illinois steel processor

Nov 20, 2014
Austin Business Journal

An affiliate of Peak Rock Capital, an Austin private equity firm, has acquired the business of Main Steel Polishing Company Inc. from Shale-Inland

Based in Elk Grove Village, Illinois, Main Steel is a national processor and polisher of stainless steel, aluminum, and nickel alloys. The company has processing facilities spread around the country in Atlanta, Riverside, California; Harmony, Pennsylvania and Elk Grove Village

"The transaction represents an outstanding opportunity to invest in a leading company in the metals sector, with a well-established reputation for providing exceptional products and service on a national scale. This acquisition highlights our continued interest in the specialty metals processing and distribution sector, as well as our ability to identify and execute complex carve-out transactions." said Anthony DiSimone, Peak Rock Capital CEO, in a statement

Tom Modrowski, a steel industry veteran, has been brought in to lead Main Steel as CEO. Keith Medick had previously been Main Steel's CEO since Shale-Inland acquired the company in 2011. Medick moved on in 2013 to become CEO of Union Corrugating Co., according to his LinkedIn profile

Modrowski was previously partner and CEO with MK Metals LLC in Dyer, Indiana, and before that was CEO of Esmark Steel Group in Chicago Heights, Illinois, according to his LinkedIn profile. Stout Risius Ross acted as the financial adviser to Peak Rock Capital on the transaction

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