Manufacturing Acquisitions in Mississippi

Memphis-based family office SouthWorth Capital Management has acquired American Furniture Manufacturing (AFM), a vertically integrated producer of upholstered residential furniture headquartered in Ecru, Mississippi. AFM operates over 700,000 square feet of manufacturing and assembly space, employs more than 650 people across its subsidiaries (Peak Living, Independent Furniture Supply, Delta Furniture Manufacturing, Southern Fibers), and will partner with SouthWorth to accelerate growth and expand market reach; financial terms were not disclosed.

Accelevation has acquired SteelPro, a structural steel fabricator based in Houston, Mississippi with operations in Memphis, Tennessee, to expand its vertically integrated manufacturing capabilities for data center infrastructure. The deal increases Accelevation's fabrication capacity and brings SteelPro's expertise in generator platforms, external steel structures, and cooling tower systems; SteelPro founder Jeremy Harrell joins Accelevation's leadership team.

Sustainable Investing at Goldman Sachs Alternatives (Goldman Sachs) has completed the acquisition of Atlas-SSI, a North American designer, manufacturer and service provider of water management equipment. Atlas-SSI was previously a portfolio company of XPV Water Partners; Goldman Sachs intends to use its global network and resources to expand Atlas-SSI's market reach, broaden its offerings and accelerate growth to meet rising demand for water infrastructure solutions.

TRG, LLC has acquired MS Rubber Company, a Jackson, Mississippi-based industrial supplier and fabricator of rubber products; the transaction closed on September 12, 2023. MS Rubber (founded 1963) supplies hydraulic hoses, fittings, belts, gaskets and related products across Mississippi and the Southern U.S.; TRG (headquartered in Appleton, Wisconsin) said the acquisition expands its footprint and sealing/distribution capabilities in the Southeastern United States.

Heartland Steel Holdings, a portfolio company of LFM Capital, has acquired SteelPro, a structural steel design and fabrication company based in Houston, Mississippi. The add-on expands Heartland's engineered products and fabrication capacity to better serve material handling integrators, general contractors and e-commerce/warehouse customers; terms were not disclosed.

New York-based private equity firm Blue Wolf Capital Partners announced an investment in Vicksburg Forest Products, a family-owned Southern Yellow Pine sawmill headquartered in Jackson, Mississippi. The capital will support a major capacity expansion (including a new chip-n-saw line and dry kilns) to increase output to about 180 million board feet annually and add roughly 60 jobs; terms were not disclosed.

MiddleGround Capital acquired Attala Steel Industries, a manufacturer of steel foundation products for utility‑scale solar, and will integrate the business with its existing portfolio company EDSCO Fasteners. Attala, headquartered in Kosciusko, Mississippi with an additional facility in Hillsboro, Texas, will continue operating under its management with founder Billy Atwood remaining an investor and board member while Kevin Heskett is expected to lead the combined business.

Kadant Inc. completed the acquisition of Syntron Material Handling Group, LLC from Levine Leichtman Capital Partners. Syntron, based in Tupelo, Mississippi, is a designer and manufacturer of vibratory and conveying equipment serving end markets such as mining, aggregates, and food processing; Kadant said the deal expands its material-handling capabilities and commercial footprint.