ORIX Mezzanine & Private Equity Investments announced today a mezzanine and private equity investment in support of the acquisition of Cyclone Steel Services, Inc. (Cyclone) by Freestone Partners, LLC and management. Cyclone’s CEO, Steve Lesikar, will continue to run the company along with his existing senior management team and will retain a substantial ownership share of the company.
Jeff Sangalis, Managing Director of ORIX Mezzanine and Private Equity Investments said, “We are pleased to be partnering with such a fine company and management team. It is also a pleasure to work once again with Freestone Partners.”
Mark Leyerle, Managing Director at Freestone Partners commented, “We are excited to have Steve Lesikar and ORIX as our partners in the Cyclone investment. Both bring deep expertise and experience to the team.”
Cyclone specializes in precision cutting and value-added processing of steel plate for critical applications in the petrochemical and oil and gas industries. The company provides a full-service solution regardless of the customer’s requirements by utilizing oxy-fuel, plasma or high definition plasma cutting technologies. In addition, Cyclone offers its customers several value-added secondary processes.