LT Corporation Completes Stock Purchase of Kryton Engineered Metals, Inc.
Published by Caleb Sieh on
Jan 4, 2023 12:00:00 PM
For Immediate Release
Contact: Dean Francis Vice President, Strategy & Corporate Development LT Corporation 800-345-2495
Cleveland, MS – LT Corporation (LT Corp.) of Cleveland, Mississippi, the parent company of Quality Steel Corporation, LP Cylinder Service, Inc., and Buckeye Manufacturing Company – all industry-leading manufacturers or providers of value-added services to their customers - announced the stock acquisition of Kryton Engineered Metals, Inc. (Kryton).
Kryton, founded in 1981 (originally founded as Iowa Metal Spinners and changed to Kryton in 2011) and operating with its manufacturing facility in Cedar Falls, Iowa, is an industry leader in the areas of engineered metal services and is focused on Cut it, Form it, and Fab it operations. Kryton serves a variety of end users in multiple industries and has established itself as one of America’s most prominent producers of metal spinning products and providers of fabrication solutions.
Sean Wessel, President of LT Corp. stated, “We’re very excited to welcome Kryton and all its associates to our family of companies and look forward to working with the team there to build upon the previous success of Kryton’s engineered metal services business. The addition of Kryton helps us to further our overall corporate objectives for growth and diversification.”
Kevin Harberts, owner of Kryton for 42 years, commented, “After evaluating multiple potential buyers, I chose LT Corp. primarily because of a good cultural fit, but also because of the possibilities for continued growth for Kryton by adding together each organization’s expertise and core competencies. These combined resources will make for a stronger business with the depth and capacity to be an undisputed leader in the engineered metal services segment. Since LT Corp. is an ESOP company, I am proud that the legacy of Kryton will include our team being able to participate in this growth as shareholders in the future.”
Wessel added, “Effective today we are announcing the promotion of Jason Mathern from Executive Vice President to President of Kryton. We are pleased that Jason and the rest of the management team will continue to lead Kryton with the same core values and customer focus that Kevin instilled over his decades of ownership.”
About the Companies:
LT Corporation was established in 1982 and is the parent company of operating companies recognized as leaders in high-quality manufacturing or service providers in the propane solutions industry, pressure and storage vessel industry and steel fabrication. LT Corp.’s portfolio of operating companies includes Quality Steel Corporation (with three manufacturing facilities in Mississippi, Ohio, and Utah), LP Cylinder Service, Inc. (with two service facilities in Pennsylvania), and Buckeye Fabricating Company (with one manufacturing facility in Ohio). More information about LT Corp.’s subsidiaries can be found at www.ltcorp-inc.com (each company separately can be found at www.propanetank.com, www.lpcylinder.com , or www.buckeyefabricating.com ).
Kryton Engineered Metals, Inc. was founded in 1981 and operates from a manufacturing facility in Cedar Falls, Iowa. Kryton is an industry leader in the fabrication of spun metal products and engineered metal working services. More information on Kryton can be found at www.krytonmetals.com.