Steele Solutions, a portfolio company of Wellspring Capital Management, has acquired Tiffin Metal Products

Tiffin Metal Products

Tiffin Metal Products is a provider of custom-engineered chute systems for distribution and manufacturing facilities. Founded in 1903 and headquartered in Tiffin, Ohio, the company operates as a full-service supplier to a renowned, global customer base, offering engineering services through paint and pack. Tiffin employs approximately 180 people and recently opened its first European location in Schmitten, Switzerland, as worldwide demand for its material handling products surges.

The Deal

Steele Solutions Inc. (SSI) and Tiffin’s combination will provide for greater scale, innovation and benefits for their employees and customers. Due to the highly complementary product offering and customer base, the combined company is ideally positioned as a leading innovative solutions provider for the material handling industry.

Our Perspective

Adam Hunia, Managing Director in Lincoln’s Industrials Group, commented, “Steele Solutions and Tiffin are an excellent match given their shared focus on innovation through design and engineering, and their relentless commitment to customer service. The combined company is uniquely positioned in the industry in terms of (i) the depth of its design and engineering resources, (ii) scale and flexibility of manufacturing capabilities to serve large projects with short lead times and (iii) the ability to serve customers in both North America and Europe.”

Steele Solutions

SSI is the North American leader in designing, engineering and manufacturing highly complex work platform solutions enabling key value-added sortation and fulfillment functions. The company manufactures highly engineered structures including steel mezzanines, vertical support structures and catwalks, which serve as the backbone of a fulfillment center and are critical solutions to support and enable automation equipment and increase capacity, efficiency and throughput. SSI serves as a key partner to industry-leading integrators who support projects for blue-chip retailers and other large parcel providers with distribution and fulfillment networks to support the rapidly growing demand in e-commerce with shorter delivery times.

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