Emko Capital announces the recapitalization of Scotchman Industries and Steelmax Tools and formation of SMX Industrial Solutions
Emko Capital is excited to announce the recapitalization of two iconic metal fabrication equipment brands — Scotchman Industries and Steelmax Tools — and the creation of SMX Industrial Solutions. SMX Industrial Solutions, the newly formed holding company, will enable Scotchman and Steelmax to bring a broader portfolio of industry-leading solutions to our customers while maintaining each company’s strong individual identity and expertise.
The new company will leverage Scotchman’s and Steelmax’s existing Product portfolio, internal technology development and additional acquisitions to offer a comprehensive and expanding portfolio of steel fabrication tools and solutions to customers in a broad array of industries, including manufacturing, construction, and energy.
“We are excited to announce the combination of Scotchman Industries and Steelmax Tools and the immense potential this combination holds for these two companies, their communities and our customers,” said Kevin Allen, CEO of SMX Industrial Solutions. “This combination brings together two companies with long histories of product innovation and commitment to customer service. Together, we will offer our customers an even broader range of fabrication products and services, as well as the expertise and support they need to succeed.”
“For nearly 60 years, Scotchman Industries has provided world-class products and services to help our customers operate their shops as efficiently and profitably as possible,” said Jerry Kroetch, President and second-generation owner of Scotchman. “We believe that the combination of Scotchman Industries and Steelmax Tools will strengthen our roots as an American manufacturer and allow us to serve our customers and our community for the next 60 years and we look forward to being a part of that future.”
“Emko Capital is thrilled to support the combination of two iconic brands in the metal fabrication and welding industries, and we look forward to contributing to the continued growth of both businesses and formation of SMX Industrial Solutions.” Said Dean Emmerton, Managing Partner of Emko Capital.
Scotchman Industries, based in Philip, SD, is a market leading manufacturer of hydraulic ironworkers, cold saws and hydraulic presses. The company has a legacy of more than five decades and is renowned for its commitment to quality, innovation, and customer satisfaction.
Steelmax Tools, with operations in Colorado and Pennsylvania, is a key supplier of fabrication and welding mechanization solutions, including magnetic drilling machines, plate and pipe bevellers and trackless and track-mounted welding carriages.
Emko partnered with Tecum Capital and Woodforest National Bank to finance the transaction.