Global Fastener News

2004 FIN – T-3 Sells Lone Star, Walker & Ameritech

May 15
00:00 2013

2004 FIN Lone Star Team Opens Sigma Fasteners

March 30, 2004 FIN – Six former LSS-Lone Star-Houston employees formed Sigma Fasteners Inc. to manufacture studs, tap ends, double-ends and specialty bolting and supply coatings.
Sigma opened last month with Judy Jandl, Jerry Jandl, Chris Baker, Charles Moran, Steve Brust, and Patty Paton as the initial employees.
LSS Lone Star was sold by T-3 Energy Services to a new investor partnership, Lone Star Fasteners L.P. (see FIN, March 23, 2004). Judy Jandl, who started in the fastener industry in 1967, said all the Sigma employees have at least 15 years of fastener experience. Sigma is located at 11133 I-45 South #120, Conroe, TX 77302. Tel: 936 441-2288 Fax 936 441-2289 E-mail: Web: com ©2004/2013 Fastener Industry News.

March 23, 2004 FIN – T-3 Energy Services Inc. sold its three Houston fastener manufacturing companies to a new investor partnership named Lone Star Fasteners L.P.
T-3 has held LSS-Lone Star-Houston Inc., Walker Bolt Manufacturing Company and Ameritech Fastener Manufacturing since merging with Industrial Holdings Inc. in 2001.
Bruce Ross is the new president of Lone Star. Ross has a financial background, including 15 years as a commercial lender and 5 years as an investment banker. His Louisiana-based partners are Robert Hollier, former CEO of Osca, a oil service company he sold two years ago; and David Duplantis, who was COO of a coil tubing company.
Upon the merger Judy Jandl and several other management teams members left. Jandl is reportedly involved in a new company, Sigma Fasteners.
Stephen Cabral remains vice president/sales.
“The biggest appeal [of the fastener companies] is the energy services business,” Ross explained the investors’ interest. “We all know it is a cyclical business and we believe the cycle is on the way up.”
In their search for an acquisition, Ross commented to FIN “we kissed a lot of frogs. This one is the prince. Lone Star has great people, products, capabilities, manufacturing, plating and a strong client base. It is a great business.”
T-3 CEO Gus Halas told FIN the fastener companies were sold because they “did not fit with our core competence.” T-3 provides oilfield products and services in the upstream oil and gas industry, petrochemical and refinery plants, shipyards and offshore fabrication companies.
“These companies are all outstanding, with exceptional customers and employees; however, they did not fit with our core competence,” Halas explained. “We feel these companies offer more value to the new owners. More importantly, the new company will continue to provide rewarding employment for our former divested companies, I wish to thank these employees for their service and dedication to T-3 and wish them the very best for the future.”
Lone Star manufactures and distributes standard and specialty bolting for the energy industry and provides in-house coating services. Walker Bolt manufacturing fasteners in small quantities and Ameritech manufactures military and aerospace parts.
The new parent company is located at 24131 Hardy Rd., Spring, TX 77383. Tel: 800 395-5843. Fax 281 353-4989. Web: ©2004/2013 Fastener Industry News.
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