Date
Aug 2022
Region
Minnesota
We are pleased to announce the sale of our client, Northern Iron & Machine to The Lawton Standard Co. The transaction closed August 12, 2022.
Located in St. Paul, Minnesota, Northern Iron & Machine (NIM) operates a full-service foundry, specializing in high-quality metal castings and machined parts. The Company’s uncompromising commitment to quality and customer satisfaction has established it as a preeminent supplier of heavy industrial parts to large locomotive, construction, and agricultural industrial OEMs.
The C. A. Lawton Co., Temperform, LLC, Penn-Mar Castings, LLC, and QESC, LLC combined are known as The Lawton Standard Co. (Lawton) which is headquartered in De Pere, Wisconsin. With unprecedented experience in the foundry industry, The Lawton Standard Co. is vertically integrated and closely held. They are focused on bringing foundries into the future.
NIM specializes in producing castings of gray, ductile, and austempered ductile iron up to 250 lbs. Additionally, the Company performs value-added machining work, transforming iron castings into precision parts. This acquisition adds to The Lawton Standard Co. offerings by both size and method. This will benefit both Lawton and NIM customers with expanded sourcing options.
Scott J Hamlett, retiring CEO of Northern Iron & Machine, says, “I’m excited to announce the sale of Northern Iron & Machine to The Lawton Standard Company. Lawton, with their expertise in the foundry industry, will be able to take NIM to the next level. Lawton has the resources necessary to improve operational efficiencies and technical abilities. Best of all, they’ll continue the culture of a close-knit family organization.”
Alex Lawton, CEO of Lawton Standard, says, “Northern Iron & Machine’s history goes back to 1906 when they first started serving the agricultural industries. They quickly advanced to serve more markets with malleable and ductile iron. We appreciate their strong desire to meet customers’ expectations for quality and delivery and their commitment to continuous improvement. NIM utilizes modern and efficient equipment and is run by well-trained, dedicated workers. We’re eager to develop and grow from an interchange of knowledge and projects between NIM and all locations.”
Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team led by Senior M&A Advisor, Stephen Dinehart, with the support of Vice President, M&A, Jacob Mangalath, successfully closed the deal. Executive Managing Director - North America, Edward G. Weber established the original relationship with NIM.
“This is a win-win for all major stakeholders. The merger expands services to both Lawton’s and NIM’s customers plus the NIM team has expanded professional opportunities,” said Dinehart.
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Manufacturing & Fabrication M&A Deals page.
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