Welded Tubes, Inc. has been acquired by Lock Joint Tube
Liberty Steel Products, Inc. (LSP) has sold Welded Tubes, Inc. to Lock Joint Tube.
Welded Tubes was incorporated and opened in 1958, in Orwell, Ohio, by the Lewis family of Warren, Ohio. The Ashtabula County plant had previously been owned and operated by the Brainard Steel Company (Sharon Steel), as a tube manufacturing facility. Re-opened as WTI, the management initially planned to manufacture and supply carbon steel tubing to the automotive industry. Unfortunately, due to timing issues, the US economy was in the beginning of a recession that adversely affected the auto industry, forcing WTI to diversify and look to other manufacturing areas. Welded Tubes began supplying the floor care industry with high-quality vacuum cleaner handles and wands. Because this product needed to be of high quality for fabrication and plating purposes, this business partnership proved to be an excellent match. By 1965, vacuum wands and handles were the primary and largest market segment for the company, and stayed that way for almost 30 years.
Selecting hot-rolled, cold-rolled, aluminized and galvanized steel, Lock Joint Tube services fabricators and distributors, as well as original equipment manufacturers with different sized and shaped steel tubing used in such diverse industries as automotive, office furniture, healthcare, exercise and display fixtures, to name a few.
LSP, established in 1965, is a leader in the processing and distribution of carbon flat-rolled steel products, including hot-rolled, cold-rolled, coated and pre-painted steels. The group’s broad capabilities and commitment to service has consistently ranked them in the Top 50 metal service centers in the nation. Headquartered in North Jackson, Ohio, LSP consists of Liberty Steel Products, Liberty Steel Building Products and Mississippi Steel Processing.
Oaklins’ team in Cleveland served as the exclusive financial advisor to Welded Tubes, Inc. in this transaction.
Talk to the deal team
Mark A. Filippell
Managing DirectorCleveland, United States
Oaklins Citizens Capital Markets
Andrew R. Ripich
AssociateCleveland, United States
Oaklins Citizens Capital Markets
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