LindFast Solutions Group (“LSG”) is pleased to announce that it has completed the acquisition of Star Stainless Screw Company (“Star”), in partnership with Star management.
About Star Stainless
Star is a master distributor of stainless-steel fasteners and was founded by Bernard Golden in 1946 in a small garage in Paterson, New Jersey. Since then, Star has grown to 14 locations across the US and Canada. With a focus on stainless-steel fasteners, Star services a wide array of customers throughout North America. For more information, please visit www.starstainless.com.
“We believe the combination of LSG and Star will give our collective customers unparalleled ability to meet all of their fastener needs with one company,” said LSG CEO Bill Niketas. “With Star’s 14 branches and distribution centers across North America and the 16 locations we have, this collective footprint will allow our customers to access product even more efficiently than in the past.”
Tim Roberto, President of Star, indicated “we are thrilled to join the LSG family and are looking forward to supporting our customers with even more resources.”
Together LSG and Star will be even more effective at meeting the needs of their diverse customer base, ranging from stainless to inch, to metric, to value-added services, and more. As with other recent acquisitions by LSG, little change is expected at Star. LSG’s goal is to maintain the exceptional Star brand name in the market. Star will continue to operate out of its existing facilities, will remain on the same ERP system, and will extend the same policies currently in place.
Jefferies Group LLC acted as the exclusive financial advisor to Star.
About LindFast Solutions Group
LSG is a leading master distributor of specialty fasteners in the North American market and is a vital supply chain partner and superior sourcing solution to a broad base of distribution customers. For more information, please visit www.lindfastgrp.com.
Nautic Partners
Nautic Partners, a Providence, Rhode Island-based middle-market private equity firm, acquired LSG in 2019 in partnership with management.
Chris Pierce, a Managing Director of Nautic, said, “LSG has a deep, experienced management team that we believe has accelerated the business’s growth trajectory over recent years and has a great culture across the organization. The acquisition of Star is in line with our stated goal to support LSG’s continued organic growth, as well as to pursue selective strategic acquisitions in LSG’s fragmented market.”
Sean Wieland, a Managing Director of Nautic, said, “LSG and Star represent a natural combination and we are excited that the combined business will be even better positioned to service its customers.”
Nautic is a middle-market private equity firm that focuses on three industries: healthcare, industrials, and services. Nautic has completed over 145 platform transactions throughout its 35-plus year history. Nautic’s strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives, and increased management team depth.