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News

Led by its Management Team, Hynes Industries Completes Financial Restructuring, Nearly $6 Million in Fresh Capital Added

Posted by Rick Organ on Apr 12, 2019 4:04:56 PM

Hynes Industries logo on building at headquarters in Youngstown, Ohio.

April 12, 2019—Hynes Industries, a leading North American precision-engineered custom roll forming, metal fabricating and strip/wire manufacturer, is pleased to announce the completion of its financial restructuring, including the injection of nearly $6 million in fresh growth capital, led by its management team along with other investors.

“I want to personally thank our suppliers, customers and employees for their support during this period of financial restructuring,” Hynes Industries CEO and President Rick Organ said. “This new injection of capital has established a strong financial foundation at Hynes Industries and will allow us to execute against our plans for continued growth and investment in 2019 and beyond.”

Hynes Industries CFO Ryan Day shared, “We would like to acknowledge our bank group, led by JPMorgan Chase and including First National Bank. Throughout this process they have offered tremendous support and have proven to be true business partners.”

For more than 90 years, Hynes Industries has provided innovative, customized metal solutions to its customers, with a focus on product quality, customer service and delivery performance.

“We’re confident this latest round of investment will enable Hynes to further expand our capabilities and to deliver ever increasing value to our customers,” said Organ. “This represents the final piece in a transformational journey undertaken by our team nearly two years ago. Combined with the recent successful implementation of our ERP system, our achievement of ISO 9001:2015 certification and the development of supporting business processes, we have put in place the essential foundation to position Hynes for future growth alongside our customer partners and suppliers.”

Headquartered in Youngstown, Ohio, with locations in Painesville, Ohio and Kokomo, Indiana, Hynes Industries is a leading North American manufacturer of rolled formed shapes, strip steel and flat wire. Hynes is a trusted partner to a diversified base of premier customers operating within the truck trailer, building and construction products, home and long-term care products and a variety of other markets. For more information, please visit www.hynesindustries.com.