PITTSBURGH — Genesys Industries announced that the company has acquired 100% of Latrobe Foundry Machine & Supply Company.
Genesys expects the acquisition to be accretive to its earnings within six months of closing. In addition, Genesys Industries will acquire Latrobe Foundry's Whitney, Pennsylvania, facility.
Latrobe Foundry, based in Latrobe, Pennsylvania, was founded in 1933 by Louis C. Steiner and is a leading manufacturer of high-quality threaded and flanged aluminum pipe fittings and hardware. Latrobe Foundry is a multi-location manufacturer and has an established product line that is used in a wide variety of businesses, including the aerospace, agricultural, chemical, construction and marine industries. The company's products are distributed by some of the largest suppliers in the industry, such as McMaster-Carr, MSC Industrial, Ferguson and many more regional suppliers.
Latrobe Foundry has a rich history in manufacturing. Ted Steiner, president, and Sally Shirey, vice president of Latrobe Foundry, are the grandchildren of Louis C. Steiner and Michael Steiner, vice president, is his great-grandson.
In 2019, a second facility was opened in Pasco, Washington, by Michael Steiner.
Genesys Industries said in a statement:
"We are excited about the acquisition of LF. This addition expands our already increasing footprint in the manufacturing of mechanical hardware components for industry. It fits well with our expanding parts catalog of over 124,000 unique SKUs. With this acquisition, we add an additional 13,000-square-foot facility in Pennsylvania."
"Latrobe Foundry and Genesys share common markets, hardware product lines, manufacturing expertise and values," said Ted Steiner. "Working together, we will be able to offer a broader range of products and enhanced service levels for our customers."
