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Rail News: M&A
Trinity Industries Inc. recently reached an agreement to sell all Trinity Fittings Group stock to the group’s management team and investment firm Levine Leichtman Capital Partners. Terms weren’t disclosed.
After the transaction closes in about a month, the group — which operates plants in Russellville, Ark., and Enid, Okla. — will be renamed Hackney Ladish Inc.
“While the fittings business is a current contributor to Trinity’s profitability, we do not view it as a core part of our strategy,” said Trinity President and Chief Executive Officer Timothy Wallace in a prepared statement.
Trinity Industries also operates rail, rail-car leasing and management services, inland barge, construction products and energy equipment groups.
6/2/2006
Rail News: M&A
Trinity Industries sells fittings group
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Trinity Industries Inc. recently reached an agreement to sell all Trinity Fittings Group stock to the group’s management team and investment firm Levine Leichtman Capital Partners. Terms weren’t disclosed.
After the transaction closes in about a month, the group — which operates plants in Russellville, Ark., and Enid, Okla. — will be renamed Hackney Ladish Inc.
“While the fittings business is a current contributor to Trinity’s profitability, we do not view it as a core part of our strategy,” said Trinity President and Chief Executive Officer Timothy Wallace in a prepared statement.
Trinity Industries also operates rail, rail-car leasing and management services, inland barge, construction products and energy equipment groups.
