BellMark Partners, LLC (“BellMark”) advised LSI Group (“LSI” or “the Company”), in its acquisition by Worthington Enterprises Inc. (“Worthington Enterprises”) (NYSE: WOR). Headquartered in Columbus, Ohio, Worthington Enterprises is a publicly traded designer and manufacturer of market-leading brands that improve everyday life by elevating spaces and experiences. Worthington Enterprises operates with two primary business segments: Building Products and Consumer Products and employees approximately 6,000 people throughout North America and Europe.
Business Description
Headquartered in Logansport, Indiana, LSI includes four leading brands and operating entities: Logan Stampings, LSI Metal Fabrication, Building Products Development (BPD™), and Roof Hugger®. LSI is one of the largest US manufacturers of standing seam metal roof clips, roof accessories, and metal roof retrofit systems for the commercial metal roof market, serving a blue-chip customer base comprised of metal roof OEMs and regional roofing contractors. Its product offerings include commercial metal roofing clips, accessories and retrofit components, and other specialty metal stampings, supported by its 141 employees. LSI has two manufacturing locations in Logansport, where it was founded in 1968 as Logan Stampings, and one sales and engineering office in Lutz, Florida. Robert Baker, owner and president, purchased Logan Stampings in 2004 and grew the business through innovation, acquisition, and the development of deep industry relationships.
Transaction Description
BellMark acted as the Company’s exclusive financial advisor in connection with this transaction. BellMark was selected by the Company due to its commitment to providing senior-level attention to transaction execution, experience with family and entrepreneur-owned businesses, and strong industry experience across building products and metal fabrication.