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Lawton Standard partners with NewSpring to pursue continued national growth

Investment proceeds used to help facilitate addition of AMSCO Wear Products to the Lawton family

The Lawton Standard, Co. (“Lawton”), a diversified provider of specialty iron and steel castings and related products and services, today announced that NewSpring, a family of private equity strategies, has invested in the company through its dedicated private credit strategy, NewSpring Mezzanine. Wells Fargo supported the investment with senior debt financing, and Oakland Standard served as an independent sponsor. This investment will help facilitate the company’s acquisition of AMSCO Wear Products, Inc. (“AMSCO”), a specialty steel products and castings distributor to the scrap metal, recycling, and mining industries.

Adding AMSCO will allow Lawton to continue bolstering its distribution capabilities and further diversify the customer base and end markets served. AMSCO leverages its design, engineering and metallurgy expertise, and proprietary relationships to deliver a complete line of mission-critical wear products. The combined company will serve more than 500 unique customers and have exposure across more than 15 end markets.

“Our company prides itself on providing the highest levels of metallurgical expertise and engineering capabilities to a wide range of customers. Combined with a full suite of complementary offerings, we’ve strengthened our long-standing relationships with our growing list of large OEM and other niche customers who have come to trust our ability to meet their needs over the years,” said Lawton CEO Alex Lawton. “We’re thrilled to partner with NewSpring and bring the AMSCO Wear Products business into our family of companies as we continue to grow into more geographic markets and provide new products and services that move the needle for our customers.”

In recent years, The Lawton Standard Co. has built a highly diversified, one-stop shop to provide specialty castings and related products and services. The company continues to expand to meet foundry needs and now has a physical presence in seven states.  

NewSpring Mezzanine partners with business owners, independently or with other financial sponsors, to provide flexible mezzanine debt and equity solutions to lower-middle market businesses. The firm has significant experience in the manufacturing industry. It will leverage its operational expertise to help Lawton expand.

“With a significant foothold in a growing number of markets, Lawton Standard is well positioned to continue its rapid growth through acquisitions and product expansion,” said Greg Barger, NewSpring General Partner. “Lawton is run by the type of highly experienced, operationally focused leadership team we seek to partner with, and we look forward to working with them to elevate how best to take this business to new heights as casting services remain a critical aspect of the U.S. manufacturing industry.”