Birmingham, Michigan-based Quarton Partners announced Monday that Houston, Texas-based private equity firm Freestone Partners partnered with management and investment company ORIX Corporate Capital to acquire Cyclone Steel Services, Inc. Cyclone is a Houston, Texas-based provider or steel plate processing services primarily to the petrochemical and oil and gas industries.
Cyclone's CEO, Steve Lesikar, will continue to run the company along with his existing senior management team, and he will continue to own a substantial share of the company. Quarton Partners acted as the exclusive advisor to Cyclone. The transaction closed on November 30, 2012.