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Crossplane Capital Acquires Hynes Industries Alongside Management

Dec 11, 2023•over 1 year ago

Acquiring Company

Crossplane Capital

Acquired Company

Hynes Industries

DallasYoungstownVenture CapitalManufacturing

Description

Crossplane Capital ("Crossplane"), a Dallas-based private equity firm, is pleased to announce the recapitalization of Hynes Industries ("Hynes" or the "Company") in partnership with Rick Organ, CEO of Hynes, and other members of the Hynes leadership team. Founded in 1925 and headquartered in Youngstown, OH with additional manufacturing facilities in Painesville, OH and Kokomo, IN, Hynes is a leading manufacturer of precision-engineered roll formed metal parts and assemblies for diverse end markets that include automated material handling, truck trailer, solar, and general industrial.

Company Information

Company

Crossplane Capital

Location

750 North St. Paul Street Suite 1000

Dallas, Texas, United States

About

Crossplane Capital is a private equity firm based in Dallas investing control equity in industrial business services, niche manufacturing and value-added distribution businesses. The firm invests in companies with up to $200 million of revenue and significant value creation upside through prudent net working capital management, rigorous cost optimization and thoughtful revenue growth. Our team has eight decades of collective experience transforming industrial companies as senior executives, operational improvement consultants, strategy consultants, restructuring advisors and private equity investors. As a result, we bring a sophisticated operating model and collaborative culture to lower middle market family owned companies and companies involved in complex situations.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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