Plymouth Tube c.1964 NIPSCO photo from 1964 profile of Winamac

The Winamac site consists of a cold draw, a hot mill, and a Quench and Temper line which manufacture carbon and alloy seamless steel tubing for diverse end markets, including construction, drilling, utilities, military, oil and gas, and other industrial applications.

“After more than 60 years in Winamac, our friends at Plymouth Tube Co. have made the decision to focus their energies and investments elsewhere,” said Nathan Origer, executive director of the Pulaski County Community Development Commission. “With financial backing from Shadowbriar Capital, Crossroads Seamless USA has acquired the real and personal property at SR 14, Winamac, and continued operations. We hate to lose such a long-time corporate citizen, but recognize that the only constant is change, and that, sometimes, it takes fresh blood, vision, and capital to forge ahead. We thank the Van Pelt family and all of the P.T. leadership over the years for their presence in Winamac and look forward to seeing what the future holds for Crossroads Seamless.”

For Shadowbriar, based in Los Angeles, the acquisition represents an opportunity to leverage the growth model it has successfully implemented at its other value- added metal processing portfolio company businesses. With 35 years of demonstrated leadership experience in the carbon and alloy steel tube industry, George Thompson has joined Crossroads Seamless USA as the company’s president.

“Crossroads Seamless USA brings an excellent array of hot finished, cold drawn and tube finishing capabilities and a workforce that is truly exceptional,” said Thompson. “We are very excited to expand the company’s production volumes and processing capabilities to increase the value we bring to customers.”

“Crossroads Seamless USA intends to become a leading domestic producer of carbon steel seamless tubing from the company’s excellent manufacturing facility in Indiana,” said Matt Homme, managing partner of Shadowbriar Capital Partners. “We are confident that George Thompson’s strong industry relationships and commercial background will drive significant growth in the years to come working collaboratively with the company’s outstanding workforce and leadership team.”

The sale of the Winamac Plymouth Tube plant follows the company’s announced closure of its West Monroe, LA site earlier in July 2024 and enables Plymouth to focus on its product leadership strategy targeting core aerospace, defense, medical tubing, nuclear tubing and fluid power markets. Plymouth emerges in a strengthened position to increase the differentiated value it brings to customers.

“Plymouth is grateful to the Winamac employees who have delivered substantial value for customers and for Plymouth since 1962,” said Paul Lemke, Plymouth’s board chair. “We are excited for its future with Shadowbriar and eager to embark on Plymouth’s second century with a sharpened focus on extending our product leadership for highly demanding specialty markets.”

Stout Capital served as financial advisor to Plymouth on the transaction. Kilpatrick Townsend & Stockton provided legal counsel to the sellers, and McDonald Hopkins provided legal counsel to the buyer.

About Crossroads Seamless USA: Crossroads Seamless USA is a domestic producer of carbon and alloy seamless tubing located in Winamac, Indiana. With over six decades of operating history in the Midwestern United States through its predecessor entities, Crossroads Seamless USA demonstrates excellent manufacturing capabilities, customer service, and commitment to quality. The company services a diverse North American customer base across end markets that include construction, drilling, utilities, military, oil & gas, and other industrial applications. For more information on Crossroads Seamless USA, please visit www.Xseamless.com.

About Shadowbriar Capital Partners: Shadowbriar is a Los Angeles based private equity firm that seeks to make control investments in leading lower middle-market industrial businesses that demonstrate strong potential. Shadowbriar looks to partner with outstanding management teams on a long-term basis to drive significant growth, both organically and through post-closing add-on acquisitions. Additional portfolio companies include VORTEQ Coil Finishers, LLC and Flextrude Aluminum Shapes, LLC. For more information on Shadowbriar, please visit www.shadowbriar.com.

About Plymouth Tube Co.: Plymouth Tube Company is a global specialty manufacturer of stainless, nickel alloy, and carbon alloy precision steel tubing. Plymouth Engineered Shapes manufactures titanium, stainless, nickel alloy, carbon and alloy semi-finished extrusions and semi-finished shaped bar. Under five continuous generations of family ownership, Warrenville, IL-headquartered Plymouth Tube celebrates its 100th Anniversary in 2024. For more information on Plymouth Tube Company, please visit www.plymouth.com.