TULSA, Okla.--(BUSINESS WIRE)--Argonaut Private Equity has added Hammer & Steel Global, LLC to its growing Fund V portfolio. The partnership is the latest example of Argonaut’s focus on partnering with and growing infrastructure and manufacturing companies.
Hammer & Steel is a leading distributor of deep foundation drilling and pile driving equipment in the United States and Canada. The St. Louis, Missouri-based company has six regional sales offices including five distribution facilities across the U.S.
“Hammer & Steel provides equipment that is critical to the continued growth of North America,” said Steve Mitchell, Argonaut CEO and Managing Director. “What is more fundamental to the growth of economies than being able to construct buildings and bridges? Hammer & Steel helps companies across our continent do that.”
Hammer & Steel is the latest Middle American company to be added to Argonaut’s Fund V. The Tulsa-based private equity company has focused its strategy on partnering with family-owned businesses in manufacturing, industrial and service sectors.
“The partnership with Argonaut permits us to accelerate the company’s expansion while also providing career opportunities for its employees,” said Rob Strobing, President & CEO of Hammer & Steel Global, LLC. “The expertise around operational efficiency and experience with rapid growth will help Hammer & Steel serve more customers, all while preserving the legacy of our company.”
Hammer & Steel currently has sales, service and distribution facilities located in New Jersey, Florida, Minnesota, Missouri, Texas and California. Argonaut and Hammer & Steel will work together to add more distribution facilities to the company’s footprint eliminating barriers in providing essential equipment to construction sites faster and more economically.
About Hammer & Steel – Founded by Bob Laurence and Joe Dittmeier, in 1989, Hammer & Steel Global has grown to become one of the largest value-added suppliers of pile driving, drilling equipment and piling products in North America. The company sells and rents the most sought-after equipment, drawing from its extensive portfolio to provide its customers with the most productive solutions for whatever their project might require.
About Argonaut Private Equity – Founded in 2002, Argonaut Private Equity is a Tulsa-based private equity firm with more than $2 billion of capital deployed in direct investments across the manufacturing and industrials sectors. Argonaut partners with companies to develop a strategy for accelerating growth and enhancing operations.