Fenco Solutions, a manufacturer of American-made steel furniture and casework, announced its acquisition of The Lyons Companies manufacturing platform, based in Louisville, Kentucky.
The transaction is being facilitated by Atlanta-based Rand & Co Holdings, owner of Fenco. This acquisition will result in expanded capabilities for Fenco and will also have a significant impact on the Louisville community, saving over 200 jobs previously at risk.
Fenco purchased Lyons through a 363 bankruptcy sale auction and was the only bidder committed to maintaining the Lyons manufacturing platform, as other bidders intended to shut down the facility and sell its equipment.
By maintaining operations, Fenco will ensure job security for more than 200 employees and continue the production of high-quality, U.S.-made painted and stainless-steel products.
Key Points:
- Revenue Growth: The acquired company is expected to generate $35 to 40 million in revenue. Combined with Fenco, total annual revenue of the combined platform will approach $70 million.
- Quality Products and Prestigious Clients: Lyons produces industrial, food service and store fixture products for customers like Coca-Cola, Walmart, Wendy’s, Family Dollar, Dollar Tree, Dollar General, Whirlpool, Viking and Siemens.
- Diversity in Manufacturing: Upon closing, Fenco became one of the largest black-owned manufacturers in the U.S.
