T-3 Sells Lone Star, Walker & Ameritech

John Wolz

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.�
T-3 CEO Gus Halas said 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.
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. Web: LSSLoneStar.com �2004 FastenerNews.com