The Lyons Companies will continue operations at its Louisville plant under the new name Lyons Manufacturing by Fenco Solutions
LOUISVILLE, KY., USA, July 26, 2024 /EINPresswire.com/ -- Fenco Solutions (“Fenco”), a leading manufacturer of American-made steel furniture and casework, today announced its acquisition of The Lyons Companies (“Lyons”) manufacturing platform, based in Louisville, Ky. The transaction is being facilitated by Atlanta-based Rand & Co Holdings (“RCH”), 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.
"This acquisition elevates our Fenco offerings to provide our clients with even greater levels of service,” said Bryan Rand, Chairman and majority owner of Fenco and CEO of Rand & Co Holdings. “Our goal has always been long-term growth, and saving these jobs is a big part of that. We believe in investing in our people and our community, and this deal strengthens our ability to do so."
Key Points:
- Revenue Growth: The acquired company is expected to generate $35-40 million in revenue. Combined with Fenco, total annual revenue of the combined platform will approach $70 million.
- Strong Financials: Coming out of this process, Lyons benefits from a new capital injection and the backing of RCH and Fenco.
- 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, Siemens, and many others.
- Diversity in Manufacturing: Upon closing, Fenco became one of the largest black-owned manufacturers in the United States. Fenco is a certified Minority Business Enterprise (MBE).
- Entrepreneurial Ownership: This acquisition was completed solely by RCH without any outside institutional equity investment, ensuring a long-term commitment to growth.
Pieter Ras, CEO of Fenco Solutions, added, "This deal transforms our company into a leading industrial and commercial furniture solutions provider. We are now better positioned to serve market leaders in a variety of industries. Keeping the facility running and preserving jobs was our top priority, and this acquisition allows us to expand our capabilities significantly."
About Fenco Solutions
Established in 1957, Fenco Solutions has consistently provided groundbreaking solutions to clients across multiple industries. Operating as Fenco Solutions, Lab Design by Fenco Solutions, and Lyons Manufacturing by Fenco Solutions, the company is a leading manufacturer of American-made products, ranging from steel furniture and millwork to specialized lab casework, store fixtures, specialty stainless steel, and beyond. Fenco is a certified Minority Business Enterprise (MBE) owned by Rand & Co Holdings, LLC.
About Rand & Co Holdings
Based in Atlanta, GA, Rand & Co Holdings, LLC (“RCH”) is an entrepreneurial holding company that invests in, acquires, and operates a diversified portfolio of private businesses and provides best-in-class support to closely held founder and family-led teams. RCH provides a permanent home for its family of companies, building value over time by retaining earnings and reinvesting in each business. RCH serves as either the majority owner, largest non-founder owner, or Board Director with responsibility for strategy and capital markets transactions across all of its holdings.
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Alex Glover
Rand & Co Holdings
+1 404-913-9244
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