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Benchmark International Has Successfully Facilitated The Transaction Of Latrobe Foundry Machine & Supply Co. To Genesys Industries
May 2, 2024
Latrobe Foundry Machine & Supply Co. was founded in 1933 by Louis C. Steiner and is a leading manufacturer of high-quality threaded and flanged aluminum pipe fittings and hardware. Latrobe Foundry Machine & Supply Co. is a multi-location manufacturer with an established product line in various businesses, including aerospace, agricultural, chemical, construction, and marine industries.
The company's products are distributed by some of the largest suppliers in the industry, such as McMaster Carr, MSC Industrial, Ferguson, and many more regional suppliers. Latrobe Foundry Machine & Supply Co. has a rich manufacturing history. Ted Steiner, President, and Sally Shirey, Vice President, are the grandchildren of Louis C. Steiner, and Michael Steiner, Vice President, is the great-grandson of the founder, Louis C. Steiner.
President and Officer of Latrobe Foundry Machine & Supply Co., Ted Steiner, emphasized, "Latrobe Foundry and Genesys share not only common markets and hardware product lines but also deep-rooted manufacturing expertise and values. This alignment will enable us to offer a more comprehensive range of products and elevate our customer service levels. The team at Benchmark International played a crucial role in guiding us towards a successful sale."
Genesys Industries' spokesperson expressed, "We are thrilled about the acquisition. This strategic move further expands our already growing presence in manufacturing mechanical hardware components for the industry. It seamlessly integrates with our expanding parts catalog of over 124,000 unique SKUs (part numbers). With this acquisition, we gain an additional 13,000 sqft facility in Pennsylvania, enhancing our operational capabilities."
"Both buyer and seller were great to work with, and I feel confident that their respective clients will benefit greatly from this acquisition" – Senior Director Matthew Kekelis, Benchmark International
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