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Press releases > Generational Equity Advises Northern Iron & Machine in its Sale to Lawton Standard

Generational Equity Advises Northern Iron & Machine in its Sale to Lawton Standard

By Generational Equity

Sep 6, 2022, 07:00 et
Northern Iron & Machine sold to Lawton Standard

Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Northern Iron & Machine to The Lawton Standard Co. The transaction closed August 12, 2022. 

Located in St. Paul, Minnesota, Northern Iron & Machine (NIM) operates a full-service foundry, specializing in high-quality metal castings and machined parts. The Company’s uncompromising commitment to quality and customer satisfaction has established it as a preeminent supplier of heavy industrial parts to large locomotive, construction, and agricultural industrial OEMs. 

The C. A. Lawton Co., Temperform, LLC, Penn-Mar Castings, LLC, and QESC, LLC combined are known as The Lawton Standard Co. (Lawton) which is headquartered in De Pere, Wisconsin. With unprecedented experience in the foundry industry, The Lawton Standard Co. is vertically integrated and closely held. They are focused on bringing foundries into the future.

NIM specializes in producing castings of gray, ductile, and austempered ductile iron up to 250 lbs. Additionally, the Company performs value-added machining work, transforming iron castings into precision parts. This acquisition adds to The Lawton Standard Co. offerings by both size and method. This will benefit both Lawton and NIM customers with expanded sourcing options.

Scott J Hamlett, retiring CEO of Northern Iron & Machine, says, “I’m excited to announce the sale of Northern Iron & Machine to The Lawton Standard Company. Lawton, with their expertise in the foundry industry, will be able to take NIM to the next level. Lawton has the resources necessary to improve operational efficiencies and technical abilities. Best of all, they’ll continue the culture of a close-knit family organization.”

Alex Lawton, CEO of Lawton Standard, says, “Northern Iron & Machine’s history goes back to 1906 when they first started serving the agricultural industries. They quickly advanced to serve more markets with malleable and ductile iron. We appreciate their strong desire to meet customers’ expectations for quality and delivery and their commitment to continuous improvement. NIM utilizes modern and efficient equipment and is run by well-trained, dedicated workers. We’re eager to develop and grow from an interchange of knowledge and projects between NIM and all locations.”

Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team led by Senior M&A Advisor, Stephen Dinehart, with the support of Vice President, M&A, Jacob Mangalath, successfully closed the deal. Executive Managing Director - North America, Edward G. Weber established the original relationship with NIM.

“This is a win-win for all major stakeholders. The merger expands services to both Lawton’s and NIM’s customers plus the NIM team has expanded professional opportunities,” said Dinehart.

About Generational Equity

Generational EquityGenerational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.

With more than 300 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management. 

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.

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Terry D. Wickman, President, Keytroller
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Ralph Noblin, President of Noblin & Associates
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Larry Moore, Owner, A Company Portable Restrooms
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Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
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Jay Dinnison, Owner of Sharpe Mixers
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Larry Moore, Owner, A Company Portable Restrooms
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Bryan D. Horn, Owner, Over Under Clothing
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Bil MacLeslie, CEO, ipHouse
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Generational Equity’s professional staff helped me every step of the way. Their network and professionals are the only reason I sold my company this quickly. For me this is a once in a lifetime sale and I was unfamiliar with the process. I was able to lean on them with questions and concerns.
Betty L. Brennan, President, Taylor Studios
The most important contribution I think Ahmad made was with his personality and work ethic. He is sincere, efficient, and very hard working. He was available to me at all times, whether it was for specific detail of the negotiation or just to talk through the bigger picture. He listened, advised, and recommended, but never forced his idea or opinions. In the time we worked together, he became a valued colleague and also a friend.
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Bil MacLeslie, CEO, ipHouse
Through the sale process, Generational brought in several interested buyers and we closed in about 6 months. I am so glad I accepted that invitation to the conference and could not be happier with the whole process. The team at Generational coupled with their knowledge and guidance was so valuable that in the end, I know I could never have done this on my own!
JoAnn Ellis, Owner of Fondren 5 Star Kennels
I decided to attend the conference and hopefully receive some guidance on how to structure an exit plan of my business. Upon arriving at the conference, I was so impressed with the presentation given by Generational Equity that I set a future appointment that week to discuss the possibility of selling my business with their Senior Managing Director David Robinson.
JoAnn Ellis, Owner of Fondren 5 Star Kennels
I wanted to take this opportunity to thank you for all that you have done for us. Not only did you take care of all the aspects of the sale but took extra care to make sure we knew what it looked like every step of the way. I will definitely recommend your company to anyone that is in a position to or looking to exit their business.
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Jay Dinnison, Owner of Sharpe Mixers
I need to say an immense thank you to Don Ho for his stellar work ethic, attention to detail, and tireless effort. Also thank you to the whole crew at GE! Without you, Don could not do such a phenomenal job. We were shooting for closing and funding before the end of 2020, due to the uncertainty of the political landscape and taxes. I am happy to report we closed last week and will be funding tomorrow.
Dr. Caty J. Catron PhD, RN, VA-BC – Owner, Vic The Picc, LLC
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Eric Erlandson, Owner, Action Fastenings, Inc.
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