Allegiance Capital Corporation, a Dallas-based private investment bank specializing in the lower middle market, announced that it has facilitated a majority recapitalization for its client, Glunt Industries, with investors Merit Capital Partners and FNB Capital Corporation.
Headquartered in Warren, OH, Glunt Industries is the domestic provider in remanufacturing and servicing equipment for U.S. steel and aluminum mills. Glunt Industries will continue to be led by Dennis Glunt and, with Merit Capital as its partner, will continue to pursue its growth objectives.
“Glunt Industries represents the highest level of service to the steel and aluminum mills throughout North America,” said Christopher Parisi, managing director at Allegiance Capital Corporation, and specialist in the steel industry. “The largest steel and aluminum industry players depend on Glunt Industries to help them keep their facilities running at maximum capacity and efficiency. It has truly been a joy to work with Dennis Glunt and his entire management team.”
Terms of the private transaction were not disclosed.
Allegiance Capital is currently involved in several engagements in manufacturing and distribution.